Top Analyst Upgrades & Downgrades (AET, AIG, AXAS, AMAT, FST, FOSL, IBM, KAI, KLAC, NFLX, NE, NOR, OPEN, RAVN, STX, SBUX, TLAB, WDC, YUM)

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Thursday morning.

Aetna Inc. (NYSE: AET) Reiterated Buy and raised target to $51 at Argus.
American International Group Inc. (NYSE: AIG) Reinstated as Neutral with $32 target at Credit Suisse.
Abraxas Petroleum Corp. (NASDAQ: AXAS) Maintained Buy with $6 target at Canaccord Genuity.
Applied Materials Inc. (NASDAQ: AMAT) Maintained Buy but cut price target to $19 at Argus.
Forest Oil Corporation (NYSE: FST) Cut to Underperform at BofA/ML.
Fossil, Inc. (NASDAQ: FOSL) Cut to Hold at S&P Equity Research (late-Wednesday).
International Business Machines Corp. (NYSE: IBM) Cut to Market Perform at Wells Fargo.
Kadant Inc. (NYSE: KAI) Maintained Buy as Value at Zacks.
KLA-Tencor Corporation (NASDAQ: KLAC) Raised to Buy at UBS.
Netflix, Inc. (NASDAQ: NFLX) Reiterated Buy and raised target to $325 at BofA/ML.
Noble Corporation (NYSE: NE) Cut estimates and Target at Canaccord Genuity; Reiterated Buy at Argus.
Noranda Aluminum Holding Corp. (NYSE: NOR) Cut to Underperform at BofA/ML.
OpenTable, Inc. (NASDAQ: OPEN) Reiterated Buy with $115 target at Canaccord Genuity.
Raven Industries (NASDAQ: RAVN) Reiterated Outperform as Bull of the Day at Zacks.
Seagate Technology PLC (NASDAQ: STX) Raised to Overweight at JPMorgan.
Starbucks Corporation (NASDAQ: SBUX) Cut to Neutral at Goldman Sachs.
Tellabs, Inc. (NASDAQ: TLAB) Cut to Underperform as Bear of the Day at Zacks.
Western Digital Corporation (NYSE: WDC) Raised to Overweight at JPMorgan.
Yum! Brands, Inc. (NYSE: YUM) Cut to Sell at Goldman Sachs.

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JON C. OGG