Notable Analyst Rating Changes 12/04: BAC, SNV, FSLR, AKAM Upgraded; TTWO, SWHC, AKS, NFLX Downgraded

December 4, 2009 10:51 AM EST

UPGRADES:
Standard & Poor's Ratings Services raised its preferred-stock ratings on Bank of America Corp. (NYSE: BAC) to 'BB' from 'B'. The firm also raised their preferred-stock ratings on BofA's bank subsidiaries to 'BB+' from 'B'. All other ratings, including the 'A/A-1' counterparty credit rating, are affirmed. The outlook is stable.

FBR Research upgrades Synovus Financial (NYSE: SNV) to Market Perform from Underperform and maintaining our price target of $2.50. Click Here for more color.

Collins Stewart upgrades First Solar (NASDAQ: FSLR) from Hold to Buy, also setting a $160 price target. For more color, Click Here.

Citi upgrades Akamai Technologies (NASDAQ: AKAM) from Hold to Buy, also boosting its price target from $23 to $31. Oppenheimer also upgraded Akamai Tech from Perform to Outperform.

Natixis Bleichroeder upgrades ATP Oil & Gas (Nasdaq: ATPG) from Hold to Buy.

For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades

DOWNGRADES:
Take Two (NASDAQ: TTWO) taking a downgrade from several ratings firms:

• Kaufman Brothers to Sell from Buy, and cuts price target from $11 to $7. Click Here for more color;
  
• Wells Fargo to Market Perform from Outperform, and set a lower valuation of $7 - $8 from $13 - $15. For more color, Click Here;
  
• Piper Jaffray to Neutral from Overweight and lowers price target to $10 from $15. Click Here for more color;
  
• Brean Murray to Hold from Buy, and removed their $14 price target. For more color, Click Here;
  
• Cowen & Co. to Neutral from Outperform;
  
• MKM Partners to Buy from Neutral.

Merriman Curhan Ford downgrades Smith & Wesson Holding Corp. (NASDAQ: SWHC) from Buy to Neutral. For more color, Click Here. Cowen & Co also downgraded Smith & Wesson from Outperform to Neutral.

Citi downgrades AK Steel (NYSE: AKS) from Buy to Hold. Price target $21.

Citi also downgrades Netflix (NASDAQ: NFLX) from Buy to Hold. The firm maintained their $59 price target.

For daily real-time Downgrades go to http://www.streetinsider.com/Downgrades

NEW COVERAGE:
Bank of America initiates coverage Moody's (NYSE: MCO) with a Buy rating and price target of $28. The firm also started McGraw-Hill (NYSE: MHP) with a Buy and price target of $38. The firm cited the outlook for growth in credit markets

Oppenheimer initiates coverage on Visa (NYSE: V) with an Outperform and price target of $95. The firm also initiated MasterCard (NYSE: MA) with an Outperform rating and price target $290.

Morgan Stanley initiates coverage on ConAgra Foods (NYSE: CAG) with a Equalweight rating. Price target $23.

Wedbush initiates coverage on Avon Products (NYSE: AVP) with an Outperform rating. Price target $45. Click Here for more color.

Jefferies & Co initiates coverage on Under Armour (NYSE: UA) with a Buy rating. Price target $32.

For daily real-time New Coverage go to http://www.streetinsider.com/New+Coverage

Related Categories

Special Reports

Stocks Mentioned

Related Entities

• Piper Jaffray
• Brean Murray Carret & Co.
• Kaufman Bros.
• Citi
• Morgan Stanley
• Jefferies & Co
• Banc of America
• Merriman Curhan Ford
• Natixis Bleichroeder
• Collins Stewart
• Notable Analyst Rating Changes
• Cowen & Co

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