Analyst calls: JC Penney downgraded to 'sell'

Dendreon is upgraded to 'outperform,' and Aeropostale is downgraded to 'neutral.'

By MSN Money Partner Jan 11, 2013 12:45PM
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Friday's noteworthy upgrades include:
  • Community Health (CYH) upgraded to Buy from Neutral at BofA/Merrill
  • Dendreon (DNDN) upgraded to Outperform from Market Perform at Bernstein
  • Forest Labs (FRX) upgraded to Neutral from Sell at Goldman
  • Mindray Medical (MR) upgraded to Buy from Neutral at Goldman
  • NRG Energy (NRG) upgraded to Conviction Buy from Buy at Goldman
  • Oasis Petroleum (OAS) upgraded to Outperform from Market Perform at Wells Fargo
  • Philip Morris (PM) upgraded to Conviction Buy from Buy at Goldman
  • Tenet Healthcare (THC) upgraded to Buy from Neutral at BofA/Merrill
  • Ford (F) upgraded to Conviction Buy from Buy at Goldman
  • Viacom (VIA) upgraded to Buy from Neutral at Janney Capital
Friday's noteworthy downgrades include:
  • Stock market ComstockJ.C. Penney (JCP) downgraded to Sell from Neutral at UBS with price target on the shares slashed to $13 from $21. Analyst Michale Binetti noted the retailer's earnings outlook is deteriorating, and there are signs that its cash flow is reaching distressed levels.
  • 3M Company (MMM) downgraded to Underweight from Neutral at JPMorgan
  • Aeropostale (ARO) downgraded to Neutral from Overweight at Piper Jaffray
  • Calpine (CPN) downgraded to Buy from Conviction Buy at Goldman
  • Campbell Soup (CPB) downgraded to Buy from Conviction Buy at Goldman
  • Corning (GLW) downgraded to Neutral from Buy at Goldman
  • Cummins (CMI) downgraded to Hold from Buy at Jefferies
  • Dr Pepper Snapple (DPS) downgraded to Market Perform from Outperform at Bernstein
  • Electronic Arts (EA) downgraded to Neutral from Overweight at Piper Jaffray
  • General Mills (GIS) downgraded to Sell from Neutral at Goldman
  • J.M. Smucker (SJM) downgraded to Neutral from Buy at Goldman
  • Research in Motion (RIMM) downgraded to Underperform at BMO Capital
  • Watson Pharmaceuticals (WPI) downgraded to Neutral from Buy at Goldman
  • Pepco Holdings (POM) downgraded to Neutral from Outperform at Credit Suisse
  • BHP Billiton (BHP) downgraded to Neutral from Outperform at Macquarie
  • Rio Tinto (RIO) downgraded to Neutral from Outperform at Macquarie
  • Wynn Resorts (WYNN) downgraded to Outperform from Buy at CLSA
  • Fiserv (FISV) downgraded to Neutral from Overweight at JPMorgan
  • Eaton (ETN) downgraded to Neutral from Buy at Buckingham
  • Legg Mason (LM) downgraded to Hold from Buy at Sandler O'Neill
  • Herbalife (HLF) downgraded to Neutral from Buy at Janney Capital
  • Sherwin-Williams (SHW) downgraded to Neutral from Buy at Northcoast
Friday's noteworthy initiations include:
  • AIG (AIG) initiated with an Outperform at FBR Capital
  • AOL (AOL) initiated with a Hold at Cantor
  • comScore (SCOR) initiated with a Hold at Cantor
  • D.R. Horton (DHI) initiated with a Buy at BofA/Merrill
  • GATX Corp. (GMT) initiated with a Buy at Stifel Nicolaus
  • Masco (MAS) initiated with a Buy at BofA/Merrill
  • Molson Coors (TAP) initiated with a Buy at Nomura
  • Owens Corning (OC) initiated with a Buy at BofA/Merrill
  • Salix (SLXP) initiated with an Outperform at RBC Capital
  • Shutterstock (SSTK) initiated with a Buy at Cantor
  • Discovery (DISCA) coverage resumed with a Neutral at JPMorgan
  • VeriSign (VRSN) initiated with a Neutral at B. Riley Caris
  • Abbott (ABT) initiated with an Equal Weight at Barclays
  • Ciena (CIEN) initiated with a Buy at Maxim
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