These are some of the top analyst upgrades, downgrades and initiations seen so far this Tuesday. There is a larger concentration around biotech and emerging pharma this morning, but that is coincidental.
AFLAC Inc. (NYSE: AFL) cut to Neutral at Stern Agee.
American Express Co. (NYSE: AXP) cut to Underweight at J.P. Morgan.
Apollo Investment Corp. (NASDAQ: AINV) cut to Neutral at J.P. Morgan.
ARM Holdings PLC (NASDAQ: ARMH) cut to Equal Weight at Morgan Stanley.
Biogen Idec Inc. (NASDAQ: BIIB) cut to Neutral at BofA/Merrill Lynch.
Celgene Corp. (NASDAQ: CELG) raised to Buy at BofA/Merrill Lynch.
Credit Suisse Group (NYSE: CS) raised to Outperform at BNP-Paribas.
Dell Inc. (NASDAQ: DELL) cut to Neutral at boutique firm Monnes Crespi Hardt.
Green Mountain Coffee Roasters Inc. (NASDAQ: GMCR) raised to Buy with $50 target at Argus.
Infosys Ltd. (NYSE: INFY) raised to Buy at UBS.
Logitech International S.A. (NASDAQ: LOGI) cut to Underperform at Credit Suisse.
Lloyds Banking Group PLC (NYSE: LYG) raised to Neutral at J.P. Morgan.
Mellanox Technologies Ltd. (NASDAQ: MLNX) raised to Buy at UBS.
Nektar Therapeutics (NASDAQ: NKTR) started as Buy at Lazard.
PDL BioPharma Inc. (NASDAQ: PDLI) cut to Underperform at Credit Suisse.
Pharmacyclics Inc. (NASDAQ: PCYC) started as Outperform at Credit Suisse.
Read also: The Best Biotech Stocks for 2013
Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) cut to Hold at Jefferies.
Royal Bank of Scotland Group PLC (NYSE: RBS) raised to Overweight at J.P. Morgan.
United Continental Holdings Inc. (NYSE: UAL) cut to Neutral at J.P. Morgan.
US Airways Group Inc. (NYSE: LCC) cut to Neutral at J.P. Morgan.
Vertex Pharmaceuticals Inc. (NASDAQ: VRTX) cut to Neutral at Lazard.
ViroPharma Inc. (NASDAQ: VPHM) raised to Buy at BofA/Merrill Lynch.
Weatherford International Ltd. (NYSE: WFT) maintained Underperform and named Bear of the Day at Zacks.
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Jon C. Ogg