Market Digest 4-27-10

 American International downgraded at KBW
7:25 AM EDT

AIG was downgraded to Underperform, Keefe, Bruyette & Woods said. $6 price target. See little long-term value in the stock, given the current capital structure.

 A123 Systems initiated at Thomas Weisel
8:30 AM EDT

AONE coverage initiated at Thomas Weisel with a Market Weight rating and $11 price target. The Street's medium term goals are unrealistic but the company's li-ion technology presents a competitive solution in a vastly growing market.

 Boeing upgraded at Wells
7:20 AM EDT

BA was upgraded from Market Perform to Outperform, Wells Fargo said. Cyclical earnings growth should be strong, even though the 2011 consensus estimate may prove optimistic.

 Becton Dickinson initiated at Barclays
7:45 AM EDT

BDX coverage initiated at Barclays with an Equal Weight rating and $85 price target. Analysts noted balance sheet flexibility, experienced management, accelerating FCF, and valuation.

 Choice Hotels downgraded at Baird
7:08 AM EDT

CHH was downgraded from Outperform to Neutral, Robert Baird said. $41 price target. Company is seeing slower EBITDA growth.

 Catalyst Health Solutions downgraded at Barclays
7:44 AM EDT

CHSI downgraded to Equal Weight from Overweight on valuation, Barclays said. Price target tweaked higher to $46 from $44.

 Express Scripts upgraded at Barclays
7:42 AM EDT

ESRX upgraded to Overweight from Equal Weight on strong expectations for the upcoming quarter, Barclays said. Price target surged to $132 from $107. 2011 EPS estimate raised to $6.32.

 Huntington Bancshares downgraded at Deutsche
7:24 AM EDT

HBAN was downgraded from Buy to Hold, Deutsche Bank said. $6 price target. Valuation call, as the stock has nearly doubled in 2010.

 Health Management upgraded at Susquehanna
7:17 AM EDT

HMA was upgraded from Neutral to Positive, Susquehanna Financial said. $10 price target. Company is likely to achieve margin gains throughout 2010.

 Starwood upgraded at Barclays
7:44 AM EDT

HOT upgraded to Equal Weight from Underweight as the global lodging industry is at the cusp of a protracted recovery period, Barclays said. Price target surged to $58 from $34. 2010 and 2011 EPS estimates increased to $0.93 and $1.62, respectively.

 H&R Block upgraded at Oppenheimer
7:05 AM EDT

HRB was upgraded from Perform to Outperform, Oppenheimer said. $22 price target. Company should benefit from an improving economy and labor market.

 International Game rated new Buy at Keybanc
7:36 AM EDT

IGT was initiated with a Buy rating, Keybanc said. $27 price target. Technology and superior service should help the company past its competition.

 Insituform downgraded at Janney
8:19 AM EDT

INSU was downgraded from Buy to Neutral, Janney Montgomery said. Company had a poor quarter, especially in sewer rehab.

 Intel rated new Buy at Sterne Agee
7:09 AM EDT

INTC was initiated with a Buy rating, Sterne Agee said. $28 price target. Servers should show seasonal strength, boosting gross margins.

 Alliant Energy downgraded at Barclays
7:45 AM EDT

LNT downgraded to Equal Weight from Overweight on relative valuation to the utility group, Barclays said. Price target maintained at $36.

 Marriott International numbers raised at Goldman
8:01 AM EDT

Shares of MAR now seen reaching $42, according to Goldman Sachs. Estimates also increased, given better global travel trends. Buy rating.

 Marriott International upgraded at Barclays
7:43 AM EDT

MAR upgraded to Equal Weight from Underweight as the entire lodging industry was upgraded to Neutral, Barclays said. 2010 and 2011 EPS estimates lifted to $1.03 and $1.43, respectively. Price target jumped to $38 from $22.

 Marvell Technology upgraded at Deutsche
7:22 AM EDT

MRVL was upgraded from Hold to Buy, Deutsche Bank said. $28 price target. Company has attractive growth prospects in Storage and Mobile segments.

 Nasdaq downgraded at Susquehanna
7:19 AM EDT

NDAQ was downgraded to Neutral, Susquehanna Financial said. Consensus estimates may be too high and the company could face increased competition from the NYSE.

 NV Energy downgraded at Soleil
7:18 AM EDT

NVE was downgraded to Hold, Soleil Securities said. $13.50 price target. Company is seeing weak retail sales.

 Oracle rated new Buy at Citigroup
8:26 AM EDT

ORCL was initiated with a Buy rating, Citigroup said. $32 price target. Company can grow its software margins.

 Plum Creek downgraded at UBS
7:43 AM EDT

PCL was downgraded from Neutral to Sell, UBS said. Valuation call, based on a $37 price target.

 Pharmaceutical Product Dev. upgraded at Goldman
8:06 AM EDT

PPDI was upgraded to Neutral, Goldman Sachs said. $28 price target. Company is seeing strong new business wins and lower cancellations.

 Penn Virginia downgraded at Jefferies
8:33 AM EDT

PVA was downgraded from Buy to Hold, Jefferies said. $28 price target. Valuation call, as the company lacks near-term catalysts.

 Sanmina-SCI upgraded at Needham
7:35 AM EDT

SANM was upgraded from Hold to Buy, Needham & Co. said. $23 price target. Company is seeing a solid rebound in customer demand.

 Suntrust upgraded at Deutsche
7:23 AM EDT

STI was upgraded from Hold to Buy, Deutsche Bank said. $34 price target. Stock has been lagging, but credit should also improve in the company's key markets later this year.

 SXC Health Solutions initiated at Barclays
7:43 AM EDT

SXCI coverage initiated at Barclays with an Equal Weight rating and $74 price target. 2010 and 2011 EPS estimates set at $2.02 and $2.60, respectively. No leverage and over $300M in cash, analysts noted.

 Terex upgraded at BofA/Merrill
8:02 AM EDT

TEX upgraded to Buy from Neutral as fundamentals appear to have bottomed, Bank of America/Merrill Lynch said. Price target surged to $40 from $27.

 Ulta Salon, Cosmetics & Fragrance downgraded at Thomas Weisel
8:34 AM EDT

ULTA downgraded to Market Weight from Overweight due to uncertainty related to management change, Thomas Weisel said. Maintain $26 price target.

 Vulcan Materials rated new Hold at Jefferies
7:10 AM EDT

Coverage of VMC was started with a Hold rating, Jefferies said. $57 price target. Demand is particularly weak in California and Florida.

 Boardwalk Pipeline Partners price target cut at Credit Suisse

8:20 AM EDT

BWP price target reduced to $33 from $35. Operating results were above expectations, but distribution was lighter, Credit Suisse said. Reiterate Outperform rating.

 Caterpillar estimates, target boosted at UBS
7:42 AM EDT

Shares of CAT now seen reaching $74, according to UBS. Estimates also upped, to match the company's new guidance. Neutral rating.

 Cavium Networks numbers upped at UBS
7:39 AM EDT

CAVM estimates were boosted through 2011, UBS said. Company should realize operating leverage in the coming quarters. Buy rating and new $37 price target.

 Ciena price target lifted at Credit Suisse
8:23 AM EDT

CIEN price target raised to $26 from $19. AT&T finally announced CIEN as one of its two key domain suppliers for optical and transport equipment, Credit Suisse said. Reiterate Outperform rating.

 Ciena estimates, target raised at Citigroup
8:23 AM EDT

Shares of CIEN now seen reaching $25, according to Citigroup. Estimates also increased, as the company sees higher potential sales growth. Buy rating.

 Comerica estimates, target increased at Citigroup
8:27 AM EDT

CMA estimates were raised through 2012, Citigroup said. Company seeing better credit and margin results. Hold rating and new $48 price target.

 Canadian National price target higher at Credit Suisse
8:19 AM EDT

CNI price target increased to $71 from $68 after reporting solid 1Q10 results. Full year 2010 outlook was substantially more positive, Credit Suisse added. Maintain Neutral rating.

 Rockwell Collins numbers boosted at Goldman
8:07 AM EDT

Shares of COL now seen reaching $74, according to Goldman Sachs. Estimates also upped, to match the company's new guidance. Neutral rating.

 Dolby Laboratories numbers upped at Goldman
7:59 AM EDT

DLB estimates were boosted through 2012, Goldman Sachs said. Company should benefit from higher PC shipments and 3D screen sales. Neutral rating and new $64 price target.

 Electronic Arts numbers increased at UBS
7:46 AM EDT

ERTS estimates were raised through 2011, UBS said. New games appear to be selling well. Buy rating and new $23 price target.

 Flir Systems numbers upped at Goldman
8:08 AM EDT

FLIR estimates were boosted through 2012, Goldman Sachs said. Commercial demand is coming back. Neutral rating and ne $31 price target.

 Google cut from Conviction Buy list at Goldman
7:56 AM EDT

GOOG was removed from the Conviction Buy list, Goldman Sachs said. Stock has underperformed of late, but still appears attractively valued based on long-term growth prospects. $680 price target.

 Lorillard estimates, target increased at Goldman
8:03 AM EDT

LO estimates were raised through 2012, Goldman Sachs said. Company is seeing better volumes. Buy rating and new $96 price target.

 Netlogic estimates, target raised at UBS
7:40 AM EDT

Shares of NETL now seen reaching $40, according to UBS. Estimates also increased, given stronger enterprise demand. Buy rating.

 Newfield Exploration numbers increased at FBR
7:29 AM EDT

NFX estimates were raised through 2011, FBR Capital Markets said. Capital shift could drive additional production growth. Outperform rating and new $72 price target.

 PNC Financial estimates, target boosted at Citigroup
8:28 AM EDT

Shares of PNC now seen reaching $75, according to Citigroup. Estimates also upped, given better credit trends and higher realized net interest margin. Hold rating.

 Roper estimates, target increased at Morgan Stanley
7:51 AM EDT

ROP estimates were raised through 2012, Morgan Stanley said. Company is seeing double-digit orgainc order growth. Equal-weight rating and new $65 price target.

 Radio Shack numbers raised at FBR
7:28 AM EDT

Shares of RSH now seen reaching $29, according to FBR Capital Markets. Estimates also increased, as same-store sales growth is accelerating. Outperform rating.

 Constellation Brands numbers upped at UBS
7:44 AM EDT

STZ estimates were boosted through 2012, UBS said. Company is likely to buyback more shares. Buy rating and new $21 price target.

 Target price target increased at Credit Suisse
8:20 AM EDT

TGT price target improved to $64 from $55. The company is making a clear shift from "pay less" to "expect more," Credit Suisse said. Reiterate Outperform rating.

 Texas Instruments target boosted at BofA/Merrill
8:01 AM EDT

TXN price target improved to $28 from $26 after solid 1Q10 results, Sales in hear, margins out of gas, Bank of America/Merrill Lynch said. Maintain Neutral rating.

 Texas Instruments numbers boosted at FBR
7:31 AM EDT

Shares of TXN now seen reaching $36, according to FBR Capital Markets. Robust demand is driving growth across the board. Outperform rating.

 Ultra Petroleum numbers raised at Morgan Stanley
7:49 AM EDT

Shares of UPL now seen reaching $63, according to Morgan Stanley. Estimates also increased, given the potential of development at Pinedale. Overweight rating.

 Urban Outfitters numbers raised at UBS
7:45 AM EDT

Shares of URBN now seen reaching $48, according to UBS. Estimates also increased, given solid comp sales trends. Buy rating.

 Veeco Instruments cut from Top Picks Live at Citigroup
8:25 AM EDT

VECO was removed from the Top Picks Live list, Citigroup said. Valuation call, based on a $52 price target. Buy rating.

 Veeco Instruments numbers increased at UBS
7:41 AM EDT

VECO estimates were raised through 2011, UBS said. Expect shipments to ramp in the second half of the year. Buy rating and new $71 price target.

 Whirlpool estimates, target boosted at Goldman
7:57 AM EDT

Shares of WHR now seen reaching $130, according to Goldman Sachs. Estimates also upped, to match the company's new guidance. Buy rating.

 WMS Industries price target higher at BofA/Merrill
8:01 AM EDT

WMS price target jumped to $55 from $49 as 3Q10 results are in line, Bank of America/Merrill Lynch said. Reiterate Buy rating.