Market Digest 5-10-10

 American Axle & Mfg downgraded at Barclays
7:50 AM EDT

AXL downgraded to Equal Weight from Overweight and price target lowered to $11 from $13. Investors are likely to favor suppliers with less leverage and stronger organic growth prospects, Barclays said.

 Boeing upgraded at Goldman
8:12 AM EDT

BA was upgraded from Neutral to Buy, Goldman Sachs said. Company was also added to the Conviction List, given continued expected growth in the aerospace sector. Estimates also boosted, as the company should see higher margins. $90 price target.

 BigBand Networks downgraded at BofA/Merrill
8:31 AM EDT

BBND downgraded to Underperform from Buy due to order delays, pricing pressures and uncertain value creation path, Bank of America/Merrill Lynch said. Price target cut to $3. Estimates cut through 2012.

 BorgWarner upgraded at Barclays
7:49 AM EDT

BWA upgraded to Overweight from Equal Weight on valuation, Barclays said. Price target held at $48.

 Carefusion upgraded at Susquehanna
7:27 AM EDT

CFN was upgraded to Positive, Susquehanna Finanical said. $33 price target. Last quarter likely marked a floor in the company's earnings.

 Cemex upgraded at Credit Suisse
8:18 AM EDT

CX upgraded to Outperform from Neutral as U.S. construction market is turning the page, Credit Suisse said. Price target jumped to $15 from $10.

 DirecTV Group upgraded at BofA/Merrill
8:35 AM EDT

DTV upgraded to Buy from Neutral and price target boosted to $43 from $38. No fighting the momentum of a strong balance sheet being put to work, Bank of America/Merrill Lynch said.

 Devon Energy upgraded at Argus
8:42 AM EDT

DVN was upgraded from Hold to Buy, Argus Research said. $76 price target. Company has raised a lot of cash through its asset sales, which should be re-deployed in a positive way.

 El Paso upgraded at Morgan Stanley
8:01 AM EDT

EP was upgraded to Overweight, Morgan Stanley said. $15 price target. Company has closed its funding gap and management should improve execution over the coming quarters.

 Fortress upgraded at Goldman
8:10 AM EDT

FIG was upgraded to Buy, Goldman Sachs said. $7.50 price target. Organic growth is improving.

 General Dynamics downgraded at Goldman
8:26 AM EDT

GD was downgraded from Buy to Neutral, Goldman Sachs said. Valuation call, based on an $87 price target.

 Genworth Financial upgraded at BofA/Merrill
8:30 AM EDT

GNW upgraded to Buy from Neutral on earnings momentum and valuation, Bank of America/Merrill Lynch said. $20 price target. Estimates raised through 2011.

 KAR Auction downgraded at Goldman
8:19 AM EDT

KAR was downgraded from Buy to Neutral, Goldman Sachs said. Valuation call, based on a $17 price target.

 Liberty Interactive downgraded at BofA/Merrill
8:41 AM EDT

LINTA downgraded to Neutral from Buy on contagion concerns, Bank of America/Merrill Lynch said. Price target cut to $16 from $18.

 Moodys downgraded at Piper Jaffray
8:11 AM EDT

MCO downgraded at Piper Jaffray. Rating lowered to Neutral from Overweight. Price target lowered to $30 from $38. Maintains 2010 EPS estimates of $1.87.

 Meru Networks initiated at BofA/Merrill
8:41 AM EDT

MERU coverage initiated with a Buy rating and $20 price target. Unique offering in a growth market, Bank of America/Merrill Lynch said.

 Nike upgraded at Sterne Agee
8:43 AM EDT

NKE was upgraded to Buy, Sterne Agee said. $85 price target. Evolution in designs should drive further growth.

 Northern Trust upgraded at Goldman
8:09 AM EDT

NTRS was upgraded to Buy, Goldman Sachs said. Company should benefit from higher currency volumes. $59 price target.

 Nu Skin upgraded at Stifel
8:46 AM EDT

NUS was upgraded from Hold to Buy, Stifel Nicolaus said. $32 price target. Pullback has created an attractive entry point.

 OfficeMax upgraded at Goldman
8:13 AM EDT

OMX was upgraded from Neutral to Buy, Goldman Sachs said. $22 price target. Visibility is improving, along with the employment data.

 PNC Financial upgraded at Stifel
8:45 AM EDT

PNC was upgraded from Hold to Buy, Stifel Nicolaus said. Valuation call, based on an $85 price target.

 Rackspace cut from Conviction Buy List at Goldman
8:33 AM EDT

RAX was removed from the Conviction Buy list, Goldman Sachs said. Company lacks near-term catalysts, and the stock is already up 75% over the past 12 months.

 Rackspace downgraded at ThinkEquity
7:29 AM EDT

RAX was downgraded from Buy to Hold, ThinkEquity said. Company could face margin headwinds.

 Rue21 initiated at Credit Suisse
8:17 AM EDT

RUE coverage initiated at Credit Suisse with an Outperform rating and $41 price target. One of the great remaining retail stories, analysts said.

 Sapient upgraded at Piper Jaffray
8:12 AM EDT

SAPE upgraded at Piper Jaffray. Rating raised to Neutral from Underweight. Price target raised to $9 from $7. 2010 EPS estimates lowered to $0.33 from $0.34.

 Stifel Financial upgraded at KBW
7:31 AM EDT

SF was upgraded to Outperform from Market Perform, Keefe, Bruyette & Woods said. Recent pullback has created a buying opportunity. $64 price target.

 SS&C Technologies initiated Credit Suisse
8:17 AM EDT

SSNC initiated with an Outperform rating and $19 price target, Well positioned to capitalize on the recovery in the financial services market, Credit Suisse said.

 SS&C Technologies initiated at JP Morgan
8:09 AM EDT

SSNC initiated at JP Morgan. Introduces Overweight rating and $19 price target. Introduces 2010 EPS estimates of $0.83.

 SS&C Technologies rated new Equal-weight at Morgan Stanley
8:07 AM EDT

SSNC was initiated with an Equal-weight rating, Morgan Stanley said. Stock has already performed well following its IPO, but the company has an attractive recurring revenue model.

 Thor Industries upgraded at Baird
7:20 AM EDT

THO was upgraded from Neutral to Outperform, Robert Baird said. $40 price target. Company had a strong quarter, has low inventory and seeing more robust orders.

 Time Warner upgraded at UBS
7:48 AM EDT

TWC was upgraded from Neutral to Buy, UBS said. $57 price target. Improvements in the economy and competitive environment should help the company drive growth.

 US Bancorp upgraded at Stifel
8:44 AM EDT

USB was upgraded from Hold to Buy, Stifel Nicolaus said. $34 price target. Pullback has created an attractive buying opportunity.

 inVentive Health downgraded at Barclays
7:48 AM EDT

VTIV downgraded to Equal Weight from Overweight as the company entered into an agreement to be acquired by Thomas H. Lee for $26 a share, Barclays said. Price target held at $26.

 Yahoo upgraded at Susquehanna
7:26 AM EDT

YHOO was upgraded to Positive, Susquehanna Financial said. $19 price target. Valuation call, as the market is underestimating the MSFT deal and the company's Chinese assets.

 Ameristar Casinos numbers cut at Goldman

8:20 AM EDT

ASCA estimates were lowered through 2012, Goldman Sachs said. Company is seeing lower sales and margins across the board. Neutral rating and new $18 price target.

 Cisco Systems estimates raised at Morgan Stanley
8:05 AM EDT

CSCO estimates were increased through 2012, according to Morgan Stanley. Company is likely to beat expectations this week and boost guidance. Equal-weight rating.

 Cisco Systems estimates upped at UBS
7:56 AM EDT

CSCO estimates were boosted through 2011, UBS said. Lead times are coming down and Tandberg should have a bigger impact on results. Neutral rating and $28 price target.

 Cablevision estimates, target boosted at Goldman
8:17 AM EDT

Shares of CVC now seen reaching $24, according to Goldman Sachs. Estimates also upped, given better video growth trends. Neutral rating.

 Gaylord Entertainment numbers raised at FBR
7:38 AM EDT

Shares of GET now seen reaching $32, according to FBR Capital Markets. Estimates also increased, given improving trends outside of the damage to Opryland. Outperform rating.

 Goodrich cut from Conviction Buy List at Goldman
8:27 AM EDT

GR was removed from the Conviction Buy list, Goldman Sachs said. Stock has been flat versus the market, but estimates remain ahead of consensus expectations. $90 price target.

 Level 3 estimates lowered at Goldman
8:31 AM EDT

LVLT estimates were cut through 2012, Goldman Sachs said. Company is facing pricing and currency pressures. Sell rating and $0.80 price target.

 Madison Square Garden estimates increased at UBS
7:50 AM EDT

MSG estimates were raised through 2011, UBS said. Company is seeing strong affiliate fees and lower player costs. Neutral rating and $22 price target.

 Ralcorp estimates, target reduced at UBS
7:52 AM EDT

Shares of RAH now seen reaching $68, according to UBS. Estimates also lowered, given higher expected promotional spending. Neutral rating.

 Sandridge estimates, target reduced at Goldman
8:22 AM EDT

Shares of SD now seen reaching $8, according to Goldman Sachs. Estimates also lowered, given lower production rates and higher expected costs. Neutral rating.

 Staples estimates lowered at UBS
7:49 AM EDT

SPLS estimates were cut through 2012, UBS said. Company has currency exposure from Europe. Neutral rating and $26.25 price target.

 SolarWinds added to Conviction Buy List at Goldman
8:15 AM EDT

SWI was added to the Conviction Buy list, Goldman Sachs said. Stock has pulled back, though commercial demand remains strong. $28 price target.

 Textron estimates increased at Morgan Stanley
8:03 AM EDT

TXT estimates were raised through 2012, Morgan Stanley said. Company is seeing better industrial demand. Overweight rating and $30 price target.

 Warner Chilcott estimates lowered at Goldman
8:25 AM EDT

WCRX estimates were cut through 2013, Goldman Sachs said. Company is seeing lower sales across the board. Neutral rating and $26 price target.

 Cimarex Energy numbers boosted at UBS
7:53 AM EDT

Shares of XEC now seen reaching $70, UBS said. Estimates also upped, as the company is seeing a higher mix of liquids and lower costs. Buy rating.