Top Analyst Upgrades & Downgrades (DF, DLR, ELLI, FTE, GGP, GOOG, INFY, KMI, PNRA, RNR, RYL, R, SKS, CRM)

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These are some of the top analyst upgrades, downgrades and initiations seen in Wall Street research calls this Friday.

Dean Foods Company (NYSE: DF) Cut to Neutral at Goldman Sachs.

Digital Realty Trust Inc. (NYSE: DLR) Raised to Buy at Jefferies.

Ellie Mae, Inc. (NYSE: ELLI) Started as Buy at ThinkEquity.

France Telecom SA (NYSE: FTE) Raised to Hold at Deutsche Bank.

General Growth Properties Inc. (NYSE: GGP) Started as Market Perform at Wells Fargo.

Google Inc. (NASDAQ: GOOG) Started as Neutral at Wedbush.

Infosys Ltd. (NASDAQ: INFY) Cut to Equal-weight at Barclays.

Kinder Morgan Inc. (NYSE: KMI) Raised to Buy at Citigroup.

Panera Bread Co. (NASDAQ: PNRA) Started as Buy at KeyBanc.

RenaissanceRe Holdings, Ltd. (NYSE: RNR) named as Bull of the Day at Zacks.

Ryland Group Inc. (NYSE: RYL) Cut to Neutral at Credit Suisse.

Ryder System, Inc. (NYSE: R) named as Bear of the Day at Zacks.

Saks Inc. (NYSE: SKS) Cut to Underperform at BofA/ML.

Salesforce.com (NYSE: CRM) Started as Buy at ThinkEquity.

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JON C. OGG