Notable Analyst Rating Changes 03/27: (NOK) (PCG) (VMW) Upgraded; (CLF) (ZIOP) (APOL) Downgraded

March 27, 2013 10:51 AM EDT Send to a Friend
UPGRADES
Swedbank upgrades Nokia Corp (NYSE: NOK) from Neutral to Buy, with a price target of €3. Click Here for more color.

Bernstein raises PG&E Corporation (NYSE: PCG) from Market Perform to Outperform, adjusting its price target from $45 up to $52.

ISI Group lifts VMware (NYSE: VMW) from Buy to Strong Buy, lowering its price target from $130 down to $115.

Barclays raises AOL, Inc. (NYSE: AOL) from Equalweight to Overweight, moving its price target from $38 up to $44.

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

DOWNGRADES
Morgan Stanley downgrades Cliffs Natural Resources (NYSE: CLF) from Equalweight to Underweight.

ZIOPHARM Oncology (Nasdaq: ZIOP) downgraded by two today:
  • JPMorgan from Overweight to Neutral; and

  • Brinson Patrick from Market Outperform to Market Perform, slashing its price target from $7 down to $1.50.

Wells Fargo reduces Apollo Group (Nasdaq: APOL) from Outperform to Market Perform and cut its valuation range from $32 to $35 down to a range of $17 to $19. Click Here for more color.

CLSA trims Focus Media Holding (Nasdaq: FMCN) from Buy to Underperform with a price target of $27.

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

NEW COVERAGE
CLSA initiates Rackspace (NYSE: RAX) with an Underperform and $52 price target.

Needham & Company begins Palo Alto Networks (NYSE: PANW) at Buy rating and $70 price target. Click Here for more color.

Stephens starts salesforce.com (NYSE: CRM) with an Overweight and price target of $220.

Topeka Capital assumes Pioneer Natural Resources (NYSE: PXD) at Buy and $158 price target. Click Here for more color.

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JPMorgan, Morgan Stanley, Needham & Company, Barclays, Notable Analyst Rating Changes, Wells Fargo

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