Top Analyst Upgrades and Downgrades (AA, CP, ENDP, GE, GS, MS, PBR, SYY, AAPL)

The research calls are running light this week with many firms still on skeleton crews. These are some of this Thursday’s key analyst upgrades, downgrades, and initiations seen in Wall Street research calls.

Alcoa Inc. (NYSE: AA) Reiterated Buy and $18 target at Argus.
Canadian Pacific Railway (NYSE: CP) Maintained Neutral but cut estimates at BofA/ML.
Endo Pharmaceuticals Holdings Inc. (NASDAQ: ENDP) Reiterated Buy and Raised target to $43 at BofA/ML.
General Electric Co. (NYSE: GE) Maintained Neutral at Zacks.
Goldman Sachs Group. Inc. (NYSE: GS) Maintained Outperform with $190 target but cut estimates at Credit Suisse.
Morgan Stanley (NYSE: MS) Maintained Outperform with $35 target but cut estimates at Credit Suisse.
Petroleo Brasileiro (NYSE: PBR) Maintained Neutral and $43 target at Credit Suisse.
SYSCO Corporation (NYSE: SYY) Maintained Hold but raised 2011-2012 estimates at Argus.

This week we began the year-end crunch over future valuations for 2011 and expectations ahead.  We took a look at the full 360-degree review for Apple Inc. (NASDAQ: AAPL) to evaluate whether it can live up to expectations as a stock in 2011 and beyond.  We also made a biotech review for the big biotechs with the most upside in 2011 based upon analyst expectations and more.

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JON C. OGG