Notable Analyst Rating Changes 05/11: (VZ) (INCY) (T) Upgraded; (JPM) (BBY) (PSSI) Downgraded

May 11, 2012 11:08 AM EDT
UPGRADES
Credit Suisse upgrades Verizon Communications (NYSE: VZ) from Neutral to Outperform, its price target raised from $38 to $45.

Goldman Sachs moves Incyte (Nasdaq: INCY) from Neutral to Buy with a price target of $29 (up from $21). Click Here for more color.

Credit Suisse raises AT&T (NYSE: T) from Neutral to Outperform, moving its price target from $30 to $36.50.

Credit Suisse lifts Bed Bath and Beyond (Nasdaq: BBBY) from Neutral to Outperform, its price target boosted from $75 to $91.

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

DOWNGRADES
JPMorgan (NYSE: JPM) docked by two:
  • FBR from Outperform to Market Perform, cutting its price target from $50 to $37; and

  • Stifel Nicolaus from Buy to Hold.
Credit Suisse reduces Best Buy (NYSE: BBY) from Outperform to Neutral, its price target lowered from $32 to $20.

Baird trims PSS World Medical (Nasdaq: PSSI) from Outperform to Neutral, its price target lowered from $29 to $21.

TD Securities lops Talisman Energy (NYSE: TLM) from Action-List Buy to Buy, its price target lowered from $18 to $17. Click Here for more color.

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

NEW COVERAGE
Wells Fargo resumes Brinker Int'l (NYSE: EAT) at Outperform and valuation range of $37 - $40. Click Here for more color.

BofA/Merrill Lynch starts Zumiez, Inc. (Nasdaq: ZUMZ) with a Buy and $44 target.

Topeka Capital initiates Wynn Resorts (Nasdaq: WYNN) with a Buy rating and a $180 price target.

BofA/Merrill Lynch assumes Nokia (NYSE: NOK) with an Underperform rating and EUR 2.20 target.

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Credit Suisse, Stifel, JPMorgan, Robert W Baird, Notable Analyst Rating Changes, Wells Fargo