These are some of the top analyst upgrades, downgrades and initiations seen in Wall Street research calls this Wednesday.
Applied Materials Inc. (NASDAQ: AMAT) Raised to Neutral at Goldman Sachs.
Ariba Inc. (NASDAQ: ARBA) Cut to Neutral at Goldman Sachs.
The Blackstone Group LP (NYSE: BX) Raised to Buy at Stern Agee.
China Telecom (NYSE: CHA) Raised to Outperform at Credit Suisse.
Dell Inc. (NASDAQ: DELL) Cut to Neutral at Mizuho; Maintained Underperform and target cut to $14 at Credit Suisse.
Dendreon Corporation (NASDAQ: DNDN) Started as Underperform at Jefferies; Maintained Hold with $11 target at Canaccord Genuity.
EMC Corp. (NYSE: EMC) Reiterated Buy with $36 target at Argus.
Facebook, Inc. (NASDAQ: FB) Started as Buy with $40 target at Needham.
IntercontinentalExchange, Inc. (NYSE: ICE) Raised to Buy at Deutsche Bank.
Jazz Pharmaceuticals (NASDAQ: JAZZ) Started as Outperform at Credit Suisse.
NASDAQ OMX Group (NASDAQ: NDAQ) Cut to Hold at Deutsche Bank.
Patriot Coal (NYSE: PCX) Cut to Hold at Deutsche Bank.
Procter & Gamble Co. (NYSE: PG) Reiterated Buy with $70 target at Argus.
Starbucks Corporation (NASDAQ: SBUX) Raised to Buy at BofA/ML.
Weyerhaeuser Co. (NYSE: WY) Started as Buy at Goldman Sachs.
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JON C. OGG