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Top Analyst Upgrades & Downgrades (AMR, BAC, STD, CREE, DELL, EMC, EPB, INTC, NRGY, IRDM, MAS, NTAP, QCOM, RVBD, SEM, TOL, X, VCLK, VECO, WLP, XLNX)

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

AMR Corporation (NYSE: AMR) Cut to Sell at Ticonderoga.
Bank of America Corporation (NYSE: BAC) Removed from U.S. Focus List at Credit Suisse.
Banco Santander (NYSE: STD) Cut to Neutral at JPMorgan.
Cree Inc. (NASDAQ: CREE) Started as Neutral at Credit Suisse.
Dell Inc. (NASDAQ: DELL) Reiterated Buy with $22 target at Argus.
EMC Corporation (NYSE: EMC) Reiterated Buy with $32 target at Argus.
El Paso Pipeline Partners, L.P. (NYSE: EPB) added to U.S. Focus List at Credit Suisse.
Intel Corporation (NASDAQ: INTC) Cut to Reduce at Nomura; Reiterated Buy and raised target to $29 at Gleacher.
Inergy, L.P. (NYSE: NRGY) Cut to Sell at Citigroup.
Iridium Communications Inc. (NASDAQ: IRDM) Started as Outperform at Morgan Keegan.
Masco Corporation (NYSE: MAS) Maintained Underperform as Bear of the Day at Zacks.
NetApp Inc. (NASDAQ: NTAP) Raised to Strong Buy at S&P Equity Research (late Wednesday).
QUALCOMM Incorporated (NASDAQ: QCOM) Reiterated Outperform at CRedit Suisse.
Riverbed Technology, Inc. (NASDAQ: RVBD) Raised to Buy at Wunderlich.
Select Medical Holdings Corporation (NYSE: SEM) Reiterated Buy as Value at Zacks.
Toll Brothers Inc. (NYSE: TOL) Cut to Hold at Citigroup.
United States Steel Corp. (NYSE: X) Raised to Buy at S&P Equity Research (late Wednesday).
ValueClick, Inc. (NASDAQ: VCLK) Cut to Hold at S&P Equity Research (late Wednesday).
Veeco Instruments Inc. (NASDAQ: VECO) Started as Neutral at Credit Suisse.
WellPoint (NYSE: WLP) Raised to Outperform as Bull of the Day at Zacks.
Xilinx Inc. (NASDAQ: XLNX) Reiterated Buy and Raised target to $41 at Gleacher & Co.

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JON C. OGG