Top Analyst Upgrades and Downgrades (AWR, BNNY, MT, ARMH, AZO, SAN, FB, GME, IR, IBM, MANU, MRVL, NWSA, NTI, NYX, TIVO, VOD, JPM, GS, MS, BCS, AAPL, RIMM)

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These are the top analyst calls of upgrades, downgrades and initiations we have seen from Wall St. research calls this Tuesday morning.

American States Water Co. (NYSE: AWR) cut to Neutral at Baird.

Annie's Inc. (NYSE: BNNY) started as Buy at SunTrust Robinson Humphreys.

ArcelorMittal (NYSE: MT) started as Buy at Jefferies.

ARM Holdings PLC (NASDAQ: ARMH) cut to Sell at Deutsche Bank (Monday overseas call).

AutoZone Inc. (NYSE: AZO) maintained Buy but removed from Conviction Buy List at Goldman Sachs.

Banco Santander S.A. (NYSE: SAN) cut to Hold at ING (Monday overseas call).

Facebook Inc. (NASDAQ: FB) maintained Overweight but target cut to $30 from $45 at JPMorgan.

GameStop Corp. (NYSE: GME) raised to Buy at Goldman Sachs.

Ingersoll-Rand PLC (NYSE: IR) cut to Neutral at BofA/ML.

International Business Machines Corp. (NYSE: IBM) raised to Overweight with $240 price target at Barclays.

Manchester United PLC (NYSE: MANU) initiated after quiet period and started as the following: Neutral at BofA/ML, Outperform at Credit Suisse, Buy at Deutsche Bank, Buy at Jefferies and Neutral at Nomura.

Marvell Technology Group Ltd. (NASDAQ: MRVL) raised to Neutral at Nomura.

News Corp. (NASDAQ: NWSA) raised to Overweight at Barclays.

Northern Tier Energy L.P. (NYSE: NTI) started as Outperform at Credit Suisse and started as Buy at Goldman Sachs.

NYSE Euronext Inc. (NYSE: NYX) raised to Outperform at KBW.

TiVo Inc. (NASDAQ: TIVO) raised to Overweight with $13 target at JPMorgan.

Vodafone Group PLC (NASDAQ: VOD) Cut to Market Perform at Bernstein.

J.P. Morgan Chase & Co. (NYSE: JPM) has made a rival coverage switch. The firm lowered the rating for Goldman Sachs Group Inc. (NYSE: GS) to Underweight from Neutral, while it has raised Morgan Stanley (NYSE: MS) to Overweight from Neutral. Barclays PLC (NYSE: BCS) was cut to Neutral at JPMorgan.

Canaccord Genuity noted that Apple Inc. (NASDAQ: AAPL) is seeing soft iPhone 4S sales but it sees strong pent-up demand for iPhone 5. The firm also said that Research In Motion Ltd. (NASDAQ: RIMM) weakness persists as channel checks indicate weak BlackBerry sales and the firm maintained below-consensus estimates.

JON C. OGG


Filed under: 24/7 Wall St. Wire, Analyst Calls Tagged: AAPL, ARMH, AWR, AZO, BCS, BNNY, FB, GME, GS, IBM, IR, JPM, MANU, MRVL, MS, MT, NTI, NWSA, NYX, RIMM, SAN, TIVO, VOD
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