Analyst calls: BP downgraded
Elan is upgraded to 'market perform,' and Affymax is downgraded to 'neutral.'
Monday's noteworthy upgrades include:
- AB InBev (BUD) upgraded to Neutral from Reduce at Nomura
- Cummins (CMI) upgraded to Conviction Buy from Buy at Goldman
- RockTenn (RKT) upgraded to Overweight from Neutral at JPMorgan
- Rockwood (ROC) upgraded to Overweight from Equal Weight at First Analysis
- Safeway (SWY) upgraded to Neutral from Underperform at BofA/Merrill
- Southwestern Energy (SWN) upgraded to Conviction Buy from Buy at Goldman
- VMware (VMW) upgraded to Neutral from Sell at Citigroup
- WebMD (WBMD) upgraded to Strong Buy from Market Perform at Raymond James
- Elan (ELN) upgraded to Market Perform from Underperform at Leerink
- Sotheby's (BID) upgraded to Buy from Hold at Craig-Hallum
- Occidental Petroleum (OXY) upgraded at Raymond James
- Akamai (AKAM) upgraded to Outperform from Neutral at Macquarie
- Aeropostale (ARO) downgraded to Hold from Buy at KeyBanc
- Affymax (AFFY) downgraded to Neutral from Outperform at RW Baird
- PetSmart (PETM) downgraded to Equal Weight from Overweight at Johnson Rice
- BP (BP) downgraded to Buy from Strong Buy at ISI Group
- Alcatel-Lucent (ALU) downgraded to Underweight from Neutral at HSBC
- Teva (TEVA) downgraded to Hold from Buy at Argus
- Owens Corning (OC) downgraded to Market Perform from Outperform at Wells Fargo
- Heinz (HNZ) downgraded to Neutral from Buy at Citigroup
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All hail the bull market, which ended the week with a big rally. But it also is starting to look a little like 1987, which suffered an epic blow-out.
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