Top Analyst Upgrades and Downgrades (ANF, AGN, AEO, ABC, AAPL, COH, GPS, INTC, MHR, MSFT, MRVL, NKE, RHT, SEE, TJX, TROW, URBN, STX, CSCO, EXC, XOM, HON, STI, OXY)

Abercrombie & Fitch Co. (NYSE: ANF) started as Sell at Citigroup.

Allergan Inc. (NYSE: AGN) reiterated Buy and $104 target at Argus.

American Eagle Outfitters Inc. (NYSE: AEO) started as Buy at Citigroup.

AmerisourceBergen Corp. (NYSE: ABC) reiterated Buy with $50 target at Argus.

Apple Inc. (NASDAQ: AAPL) reiterated Buy and raised target to $810 at Goldman Sachs, reiterated Buy and raised target to $775 at Argus, reiterated Outperform at Credit Suisse and maintained Buy with $750 target at Needham.

Coach Inc. (NYSE: COH) started as Neutral at Citigroup.

Gap Inc. (NYSE: GPS) started as Neutral at Citigroup.

Intel Corp. (NASDAQ: INTC) maintained Hold with $29 target at Jefferies.

Magnum Hunter Resources Corp. (NYSE: MHR) started as Outperform at Credit Suisse.

Microsoft Corp. (NASDAQ: MSFT) started as Hold at Jefferies.

Marvell Technology Group Ltd. (NASDAQ: MRVL) cut to Neutral at Citigroup.

Nike Inc. (NYSE: NKE) cut to Neutral at Citigroup.

Red Hat Inc. (NYSE: RHT) started as Buy at Jefferies.

Sealed Air Corp. (NYSE: SEE) named Bear of the Day at Zacks.

TJX Cos. (NYSE: TJX) started as Buy at Citigroup.

T. Rowe Price Group Inc. (NASDAQ: TROW) cut to Neutral at Credit Suisse.

Urban Outfitters Inc. (NASDAQ: URBN) started as Neutral at Citigroup.

Argus Model Portfolio changes: selling Seagate Technologies PLC (NASDAQ: STX) and adding Cisco Systems Inc. (NASDAQ: CSCO), adding to positions in Exelon Corp. (NYSE: EXC) and selling Exxon Mobil Corp. (NYSE: XOM), selling Honeywell International Inc. (NYSE: HON) and taking new positions in SunTrust Banks Inc. (NYSE: STI) and Occidental Petroleum (NYSE: OXY).

Analysts do not like this BAE/EADS proposed aerospace and defense merger overseas.

JON C. OGG

Contact [email protected] for any questions or corrections.