Upgrades
INFY – Kaufman sees modest rev upside for offshore IT, despite a seasonally soft quarter
AAPL – Apple: More talk of Apple reaching 45 million iPads in CY11 – Ticonderoga
ORCL – Oracle: Positive takeaways from IBM’s impact conference – BMO Capital Markets
FRX – Forest Labs upgraded to Outperform from Neutral at Credit Suisse
JPM – JPMorgan Chase: Oppenheimer reviews yesterday morning’s qtrly results; trading near record levels, credit quality continued to improve
SOL – ReneSola initiated with Buy at boutique firm
HOG – Harley-Davidson upgraded to Strong Buy from Market Perform at Raymond James
AHGP – Alliance Holdings upgraded to Outperform from Market Perform at Raymond James
BRCM – Broadcom resumed with a Buy at Auriga U.S.A; tgt lowered to $50
OSTK – Overstock.com initiated with a Buy at The Benchmark Company; tgt $18
USO – Wunderlich slightly raises tgts on Oil and Gas E&P names on higher oil price forecast
CPF – Central Pacific Financial upgraded to Neutral from Sell at B. Riley
Downgrades
XLF – U.S Financials downgraded Neutral from Overweight at Goldman
MSFT – Microsoft ests lowered at ISI Group on lower PC shipments
GG – Goldcorp downgraded to Underweight from Neutral at HSBC
OPEN – OpenTable ticking lower; weakness attributed to tier 1 firm downgrade
CYH – Community Health: A low observation rate, in and of itself, does not prove anything – Oppenheimer
TXT – Textron downgraded to Hold from Buy at Deutsche Bank
AN – AutoNation downgraded to Sell from Neutral at Goldman
TRLG – True Religion initiated with a Buy at BB&T; tgt $31
NSC – Norfolk Southern added to Short Term Sell List at UBS
XRX – Xerox: Greater opportunity for FX tailwinds & solid revenue growth in 2H11 than supply risk – Brean Murray
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