The 24/7 Wall St. Top Analyst Calls of the Week were in shares of the following: AT&T Inc. (NYSE: T); Automatic Data Processing, Inc. (NYSE: ADP); Best Buy Co., Inc. (NYSE: BBY); Chesapeake Energy Corporation (NYSE: CHK); Dendreon Corporation (NASDAQ: DNDN); E*TRADE Financial Corporation (NASDAQ: ETFC); J.C. Penney Company, Inc. (NYSE: JCP); J.P. Morgan Chase & Co. (NYSE: JPM); Goldman Sachs Group Inc. (NYSE: GS); Morgan Stanley (NYSE: MS); Jefferies Group, Inc. (NYSE: JEF); KLA-Tencor Corporation (NASDAQ: KLAC); Life Technologies Corporation (NASDAQ: LIFE); McDonald’s Corporation (NYSE: MCD); Michael Kors Holdings Limited (NYSE: KORS); Netflix, Inc. (NASDAQ: NFLX); Vistaprint NV (NASDAQ: VPRT); and Zynga Inc. (NASDAQ: ZNGA).

We have covered these in more detailed summaries below and some of these will have links to broader coverage calls.  

AT&T Inc. (NYSE: T) has been a bit under pressure and frankly its earnings did not help the situation for the bulls despite some positive metrics.  Now there is a bit more caution as the stock was reinstated in coverage on Friday at Credit Suisse: with a NEUTRAL and a mere $30.00 price target. This was one of Jim Cramer’s 4 FAVORITE DJIA PICKS FOR 2012 and it is the highest yield of the DJIA. 

Automatic Data Processing, Inc. (NYSE: ADP) met its second quarter earnings estimates this last week but apparently there are some valuation concerns despite the CFO seeing some continued positive trends in the economy.  On Thursday there were two downgrades: Cut to NEUTRAL at Citigroup and Cut to MARKET PERFORM at Wells Fargo.  Shares were around $57.oo pre-earnings and ended the week down at $55.34 and that may be another failed break-out attempt on the chart as the year high is $57.10.

Best Buy Co., Inc. (NYSE: BBY) is supposed to be down and out with absolutely nothing going for it.  In fact, its real risk is that no one under 30 or so may ever go there again.  Not so fast, according to Credit Suisse as the firm reinstated coverage with an OUTPERFORM rating and with a call of almost 30% upside to its $32.00 price target (versus $28.21 target from Thomson Reuters. This drove shares up 1.7% on Friday when the broad market was down.

Chesapeake Energy Corporation (NYSE: CHK) is the pure-play when it comes to investing in natural gas.  It is no secret that nat-gas is in the tank.  Apparently J.P.Morgan just couldn’t take the pressure any longer.  The analyst team there cut Chesapeake to UNDERWEIGHT on Thursday… That is just a “Sell” masqueraded by vocabulary.

Dendreon Corporation (NASDAQ: DNDN) was given two calls of caution or at least calls with no enthusiasm despite its shares having more than doubled from the lows.  Zacks maintained a NEUTRAL rating with a $14.00 target, while the team at Cantor Fitzgerald started it with only a HOLD rating.  Both calls came on Wednesday and Wednesday’s was Dendreon’s highest price of the week.

E*TRADE Financial Corporation (NASDAQ: ETFC) is still supposed to be a buyout target according to the great analyst predictions of 2012, even though the company’s review ended with nothing.  Earnings stank up the joint and the promise (or forecast) of exceptionally low rates through 2014 offers no comfort for earnings at online brokers.  The stock was cut to NEUTRAL at Goldman Sachs this week.  Keep in mind that Goldman Sachs was the firm hired to go find a buyer for E*TRADE.  Not promising at all.

The Allstate Corporation (NYSE: ALL) Started as Outperform at William Blair.
AT&T Inc. (NYSE: T) Reinstated as Neutral with $30 price target at Credit Suisse.
Best Buy Co., Inc. (NYSE: BBY) Started as Outperform with $32 target at Credit Suisse.
Celgene Corporation (NASDAQ: CELG) Cut to Hold on Valuation at Argus.
Cliffs Natural Resources (NYSE: CLF) Cut to Neutral at Credit Suisse.
Equity One Inc. (NYSE: EQY) Cut to Sell at Citigroup.
Hartford Financial Services Group (NYSE: HIG) Cut to Neutral at JPMorgan.
J.C. Penney Company, Inc. (NYSE: JCP) Raised to Overweight at Piper Jaffray; Maintained as Buy but raised price target to $49 at Argus.
Juniper Networks Inc. (NYSE: JNPR) Cut to Market Perform at Morgan Keegan.
Kimco Realty Corporation (NYSE: KIM) Cut to Neutral at Citigroup.
The Progressive Corporation (NYSE: PGR) Started as Underperform at William Blair.
Sandridge Energy Inc. (NYSE: SD) Started as Buy at Citigroup.
Synaptics Inc. (NASDAQ: SYNA) Raised to Buy at Needham; Cut to Neutral at Stern Agee.
Under Armour, Inc. (NYSE: UA) Reiterated as Buy with $102 price target at Canaccord Genuity.
Vistaprint NV (NASDAQ: VPRT) Cut to Underperform as Bear of the Day at Zacks.
ZOLL Medical Corporation (NASDAQ: ZOLL) maintained Outperform as Bull of the Day at Zacks.

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JON C. OGG

This weeks top analyst calls were in the following stocks: Bank of New York Mellon (NYSE: BK); Beam (NYSE: BEAM); Cell Therapeutics (NASDAQ: CTIC); Cisco Systems (NASDAQ: CSCO); Demand Media (NYSE: DMD); First Solar (NASDAQ: FSLR); General Electric (NYSE: GE); Goldman Sachs Group (NYSE: GS); Rackspace Hosting (NYSE: RAX); Sprint Nextel (NYSE: S); and Vistaprint (NASDAQ: VPRT). We also have a rivaling look at Apple (NASDAQ: AAPL) as we look for upside elsewhere.

We have added in summaries, links to more details of these calls, and added in color where applicable.

Bank of New York Mellon (NYSE: BK) has already been punished hard with banks and fiduciary banks. This last Thursday came a call from Zacks, calling it the Bear of the Day due to overhanging issues ahead. Keep in mind that this one has earnings this coming week.

Beam (NYSE: BEAM) is now on its own and we saw in the first week of October that the alcohol producer had been given an Overweight by Barclays and been put on the Conviction Buy List at Goldman Sachs. Now this last week came a more cautious report from Argus, who only gave a Hold rating. We will be tracking this one as Argus often looks at metrics that many other analyst reports do not take into consideration.

Cell Therapeutics (NASDAQ: CTIC) was given a highly unusual call from Zacks as the Bull of the Day on Friday with full details at BiohealthInvestor.com. This was actually a raise to Outperform based on a likely approval of pixantrone. Analysts often shy away from covering low-priced small cap stocks of this nature.

Cisco Systems (NASDAQ: CSCO) is well off of its lows and the company is in the middle of its restructuring. A firm called ISI Group started Cisco with a Buy rating and a $20.00 price target this last Friday.

Demand Media (NYSE: DMD) managed to come back strong on Friday, but on this last Wednesday (and the afternoon before) its shares were being hit hard. The controversial online content site was downgraded to Neutral at Goldman Sachs. The new price target was taken down to $8.20 as this one trades at about 33-times consensus earnings estimates for 2011.

Align Technology, Inc (NASDAQ: ALGN) Started as Neutral with $19 target at Credit Suisse.
Baidu, Inc. (NASDAQ: BIDU) Cut to Buy from Strong Buy at S&P Equity Research (late-Tuesday).
Brocade Communications Systems, Inc. (NASDAQ: BRCD) Cut to Underweight at JPMorgan.
Demand Media, Inc. (NYSE: DMD) Cut to Neutral at Goldman Sachs.
First Solar Inc. (NASDAQ: FSLR) Cut to Sell at Ticonderoga.
Hecla Mining Company (NYSE: HL) named Value stock of the day at Zacks.
hhgregg, Inc. (NYSE: HGG) cut to Underperform as Bear of the Day at Zacks.
InterMune, Inc. (NASDAQ: ITMN) Reiterated Buy with $44 target at Canaccord Genuity.
Limited Brands, Inc. (NYSE: LTD) named Bull of the Day at Zacks.
Minefinders Corp. (NYSE: MFN) named growth stock of the day at Zacks.
Nokia Corporation (NYSE: NOK) Raised to Neutral at Nomura.
Patriot Coal Corporation (NYSE: PCX) Cut to Sell at Goldman Sachs.
Seagate Technology PLC (NASDAQ: STX) Cut to Neutral at JPMorgan.
Vistaprint N.V. (NASDAQ: VPRT) Cut to Sell at Goldman Sachs.

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JON C. OGG

Allscripts Healthcare Solutions Inc. (NASDAQ: MDRX) Reiterated Buy with $27 target at Argus.
Alpha Natural Resources, Inc. (NYSE: ANR) Started as Neutral at JPMorgan.
AMC Networks Inc. (NASDAQ: AMCX) Started as Buy with $42 target at BofA/ML.
American Eagle Outfitters, Inc. (NYSE: AEO) Cut to Hold at Citigroup.
Bank of America Corporation (NYSE: BAC) Maintained Outperform with $14 target at Credit Suisse.
Cracker Barrel Old Country Store, Inc. (NASDAQ: CBRL) Cut to Neutral at SunTrust.
Emerson Electric Co. (NYSE: EMR) Cut to Hold at Argus.
The Jones Group Inc. (NYSE: JNY) Raised to Buy with $14 target at BofA/ML.
LDK Solar Co., Ltd. (NYSE: LDK) Cut to Underperform at Wells Fargo.
Perry Ellis International (NASDAQ: PERY) Raised to Buy with $26 target at BofA/ML.
Priceline.com Inc. (NASDAQ: PCLN) Reiterated Outperform as Bull of the Day at Zacks.
Ryder System, Inc. (NYSE: R) named Value stock of the day at Zacks.
Starwood Hotels & Resorts Worldwide Inc. (NYSE: HOT) Maintained Outperform but cut target to $64 at Credit Suisse.
SunCoke Energy Inc. (NYSE: SXC) Started as Outperform with $19 target at Credit Suisse.
VistaPrint NV (NASDAQ: VPRT) Cut to Neutral as Bear of the Day at Zacks.

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JON C. OGG

Allied Health Care International, Inc. (NASDAQ: AHCI) is up more than 56% before market open to $3.83, relative to a 52-week range of $1.86-$3.10. Saga Group Limited announced it would by the company for $175 million.

VistaPrint NV (NASDAQ: VPRT) is down more than 36% to $27.11, relative to a 52-week range of $27.75-$56.25. Oppenheimer downgraded the price target of the share to $35.

Yahoo! Inc. (NASDAQ: YHOO) is up more than 5% premarket to $14.21, relative to a 52-week range of $12.94-$14.84. Yahoo! announced that Alibaba Group, which it owns, will be receiving royalties from spinoff Alipay.

Alcatel-Lucent (NYSE: ALU) Cut to Sell at S&P Equity Research.
Altria Group Inc. (NYSE: MO) Raised to Buy at Stifel Nicolaus.
American International Group, Inc. (NYSE: AIG) Started as Hold at Citigroup.
Banco Bilbao Vizcaya Argentaria, S.A. (NYSE: BBVA) Cut to Hold at Citigroup.
Domino’s Pizza Inc. (NYSE: DPZ) Reiterated Buy and raised target to $33 at Argus.
Eaton Corporation (NYSE: ETN) Reiterated Buy as Value at Zacks.
EarthLink Inc. (NASDAQ: ELNK) Raised to Strong Buy at S&P Equity Research.
Fastenal Company (NASDAQ: FAST) Raised to Outperform as Bull of the Day at Zacks.
3M Co. (NYSE: MMM) Reiterated Buy with $108 target at Argus.
Morgan Stanley (NYSE: MS) Maintained Underperform as Bear of the Day at Zacks.
Royal Caribbean Cruises Ltd. (NYSE: RCL) Cut to Neutral at JPMorgan; Raised to Overweight at Barclays.
Sprint Nextel Corporation (NYSE: S) Maintained Outperform but cut target to $7 at Credit Suisse.
Starbucks Corporation (NASDAQ: SBUX) Reiterated Outperform and raised target to $48 at Credit Suisse.
Vistaprint N.V. (NASDAQ: VPRT) Cut to Perform at Oppenheimer.

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JON C. OGG

CafePress’s product offerings include a wide array covering t-shirts, hats, canvas art prints, banners, stickers, iPhone and iPad cases, mugs, water bottles, GPS units, cards and calendars.  It develops its products through such activities as: screen printing and garment printing; creative photo merchandising; promotional product marketing; and mass-customization services for retailers and product manufacturers.  It is involved in E-commerce and a variety of other distribution channels. Company sales are subject to seasonal influences.  Fourth quarter revenues regularly lead the year owing to holiday sales.

The company lists substantial competition, but the two most widely recognized competitors listed are going to be VistaPrint N.V. (NASDAQ: VPRT) for small businesses and Shutterfly, Inc. (NASDAQ: SFLY) for photographic products. Other competitors are Etsy, CustomInk, Spreadshirt, Threadless and Zazzle.

Upon completion of this IPO the company anticipates 28.4 million in outstanding shares.  This total is subject to certain common share exclusions specified in the offering document including: 4.2 million shares subject to exercisable options; shares reserved for the company’s stock incentive plan and employee stock purchase plan; and conversion of 11.1 million shares of preferred stock).

CafePress’s net revenues had doubled from $64.1 million in 2006 to $127.9 million in 2010.  Meanwhile net income tripled from $1.02 million in 2006 to $33.3 million for 2010.  Net revenues and income rose roughly 40% for the quarter ending March 31, 2011 compared with March, 2010.

The selling stockholders are offering the shares through underwriters. J.P. Morgan Securities LLC and Jefferies & Company, Inc. and Cowen and Company, LLC with Morgan and Jefferies acting as joint book-running managers.

As far as a use of funds, it listed “to increase our working capital, create a public market for our common stock and facilitate our access to the public capital markets” and “…for general corporate purposes, including working capital and capital expenditures.”

The co-founders are Fred Durham with a 19.0% stake and Maheesh Jain with a 17.3% stake; Sequoia Capital Funds is also listed as a 20.4% owner.

The full preliminary IPO filing can be seen here.

JON C. OGG

Athenahealth (ATHN) Started as Hold at Auriga.
Concur Tech (CNQR) Cut to Neutral at Piper Jaffray.
North American Energy (NOA) Cut to Market Perform at Raymond James.
Temple-Inland (TIN) Cut to Neutral at UBS.
UnitedHealth (UNH) Cut to Underperform at Oppenheimer.
Vistaprint (VPRT) Cut to Hold at Citigroup.

JON C. OGG

Williams-Sonoma (WSM) Who can afford to decorate a home? Earnings fall. Sells off to $7.26 from 52-week high of $31.88.

Pilgrim’s Pride (PPC) Lenders extend debt, but market is still nervous. Down to $1.10 from 52-week high of $30.15.

McKesson (MCK) Weak guidance. Slips to $35.50 from 52-week high of $68.43.

Vistaprint (VPRT) Bad forecast and downgrades. Daily double. Plunges to $16 from 52-week high of $48.60.

Clean Energy Fuels (CLNE) Plan to raise money hurts shares. Falls to $6.62 from 52-week high of $19.95.

Douglas A. McIntyre