Analyst calls: Apple initiated with a 'buy'
Allegiant Travel is upgraded to 'buy,' and Dendreon is downgraded to 'underperform.'
Wednesday's noteworthy upgrades include:
- Allegiant Travel (ALGT) upgraded to Buy from Hold at Deutsche Bank
- SAP (SAP) upgraded to Buy from Hold at ThinkEquity
- Wendy's (WEN) upgraded to Outperform from Neutral at Wedbush
- AMC Networks (AMCX) upgraded to Positive from Neutral at Susquehanna
- Alcoa (AA) downgraded to Underperform from Market Perform at BMO Capital
- BHP Billiton (BHP) downgraded to Neutral from Outperform at Credit Suisse
- Dendreon (DNDN) downgraded to Underperform from Neutral at BofA/Merrill
- Duke Energy (DUK) downgraded to Neutral from Buy at UBS
- Syngenta (SYT) downgraded to Sell from Neutral at UBS
- HMS Holdings (HMSY) downgraded to Hold from Buy at Jefferies
- Office Depot (ODP) downgraded to Market Perform from Outperform at Bernstein
- Staples (SPLS) downgraded to Market Perform from Outperform at Bernstein
- Pinnacle West (PNW) downgraded to Neutral from Buy at Citigroup
- USG (USG) downgraded to Neutral from Buy at Longbow
- Waste Management (WM) downgraded to Underweight from Equal Weight at Morgan Stanley
- Amazon.com (AMZN) initiated with a Market Perform at BMO Capital
- Apple (AAPL) initiated with a Buy at UBS
- EMC (EMC) initiated with a Buy at UBS
- IBM (IBM) initiated with a Neutral at UBS
- Juniper (JNPR) initiated with a Market Perform at JMP Securities
- Rex Energy (REXX) initiated with an Outperform at Wells Fargo
- ViroPharma (VPHM) initiated with a Market Perform at Wells Fargo
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A light news day combined with heavy technicals weighed on the market.
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