Top Analyst Upgrades and Downgrades (ADTN, ALKS, CBS, CSCO, GLW, DCI, ERJ, INCY, JNPR, MJN, MDT, REGN, SAP, LUV, VVUS, YUM, ZLTQ)

These are some of the top analyst upgrades, downgrades and initiations seen so far from Wall St. research calls this Thursday:

ADTRAN Inc. (NASDAQ: ADTN) cut to Sell at UBS but raised to Neutral at Citigroup.

Alkermes PLC (NASDAQ: ALKS) started as Neutral at Credit Suisse.

CBS Corp. (NYSE: CBS) raised to Outperform at Wedbush.

Cisco Systems Inc. (NASDAQ: CSCO) cut to Underweight at J.P. Morgan.

Corning Inc. (NYSE: GLW) cut to Sector Perform at RBC.

Donaldson Co. (NYSE: DCI) raised to Buy with $41 target at Bank of America/Merrill Lynch.

Embraer S.A. (NYSE: ERJ) cut to Underperform and named Bear of the Day at Zacks.

Incyte Corp. (NASDAQ: INCY) maintained Buy with $25 target but raised earnings estimates to breakeven in 2013 at Argus.

Juniper Networks Inc. (NYSE: JNPR) raised to Overweight at J.P. Morgan.

Mead Johnson Nutrition Co. (NYSE: MJN) cut to Neutral at J.P. Morgan.

Medtronic Inc. (NYSE: MDT) raised to Outperform with $50 target at Credit Suisse.

Regeneron Pharmaceuticals Inc. (NASDAQ: REGN) cut to Hold at Brean.

SAP A.G. (NYSE: SAP) cut to Neutral at Citigroup.

Southwest Airlines Co. (NYSE: LUV) raised to Outperform and named as Bear of the Day at Zacks.

VIVUS Inc. (NASDAQ: VVUS) cut to Sell at Brean.

Yum! Brands Inc. (NYSE: YUM) cut to Hold at Argus.

Zeltiq Aesthetics (NASDAQ: ZLTQ) maintained Buy but cut target to $7.50 at Canaccord Genuity.

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