These are the top analyst calls of upgrades, downgrades and initiations we have seen from Wall St. research calls this Tuesday morning.
American States Water Co. (NYSE: AWR) cut to Neutral at Baird.
Annie’s Inc. (NYSE: BNNY) started as Buy at SunTrust Robinson Humphreys.
ArcelorMittal (NYSE: MT) started as Buy at Jefferies.
ARM Holdings PLC (NASDAQ: ARMH) cut to Sell at Deutsche Bank (Monday overseas call).
AutoZone Inc. (NYSE: AZO) maintained Buy but removed from Conviction Buy List at Goldman Sachs.
Banco Santander S.A. (NYSE: SAN) cut to Hold at ING (Monday overseas call).
Facebook Inc. (NASDAQ: FB) maintained Overweight but target cut to $30 from $45 at JPMorgan.
GameStop Corp. (NYSE: GME) raised to Buy at Goldman Sachs.
Ingersoll-Rand PLC (NYSE: IR) cut to Neutral at BofA/ML.
International Business Machines Corp. (NYSE: IBM) raised to Overweight with $240 price target at Barclays.
Manchester United PLC (NYSE: MANU) initiated after quiet period and started as the following: Neutral at BofA/ML, Outperform at Credit Suisse, Buy at Deutsche Bank, Buy at Jefferies and Neutral at Nomura.
Marvell Technology Group Ltd. (NASDAQ: MRVL) raised to Neutral at Nomura.
News Corp. (NASDAQ: NWSA) raised to Overweight at Barclays.
Northern Tier Energy L.P. (NYSE: NTI) started as Outperform at Credit Suisse and started as Buy at Goldman Sachs.
NYSE Euronext Inc. (NYSE: NYX) raised to Outperform at KBW.
TiVo Inc. (NASDAQ: TIVO) raised to Overweight with $13 target at JPMorgan.
Vodafone Group PLC (NASDAQ: VOD) Cut to Market Perform at Bernstein.
J.P. Morgan Chase & Co. (NYSE: JPM) has made a rival coverage switch. The firm lowered the rating for Goldman Sachs Group Inc. (NYSE: GS) to Underweight from Neutral, while it has raised Morgan Stanley (NYSE: MS) to Overweight from Neutral. Barclays PLC (NYSE: BCS) was cut to Neutral at JPMorgan.
Canaccord Genuity noted that Apple Inc. (NASDAQ: AAPL) is seeing soft iPhone 4S sales but it sees strong pent-up demand for iPhone 5. The firm also said that Research In Motion Ltd. (NASDAQ: RIMM) weakness persists as channel checks indicate weak BlackBerry sales and the firm maintained below-consensus estimates.
JON C. OGG