Hewlett-Packard Co. (NYSE: HPQ) was reiterated as Buy and the price target was raised to $40 from $39 at Merrill Lynch. Credit Suisse maintained its Neutral rating and $35 price target.
InterMune Inc. (NASDAQ: ITMN) was downgraded to Market Perform from Outperform with a $50 to $52 price range at Wells Fargo.
International Rectifier Corp. (NYSE: IRF) rose almost 50% on Wednesday as Infineon is acquiring the company. The stock was downgraded to Market Perform from Strong Buy at Raymond James. Goldman Sachs raised its rating to Neutral from Sell.
Lowe’s Companies Inc. (NYSE: LOW) was reiterated as Buy and the price target was raised to $61 from $59 at Merrill Lynch.
Madison Square Garden Co. (NASDAQ: MSG) was downgraded to Hold from Buy at Stifel.
MeetMe In. (NASDAQ: MEET) initiated with an Outperform at JMP Securities.
Photronics Inc. (NASDAQ: PLAB) was raised to Buy from Hold at Needham & Co.
Procter & Gamble Co. (NYSE: PG) was reiterated as Buy with a $92 price target at Argus, which talked up P&G’s chances of margin expansion into the disposal of the 90 to 100 brands.
Staples Inc. (NASDAQ: SPLS) was reiterated as Underperform with a $9 price target (versus a $11.32 close) at Merrill Lynch.
Target Corp. (NYSE: TGT) was reiterated as Underperform with a $50 price target (versus $60.33 close) at Merrill Lynch.
Tesla Motors Inc. (NASDAQ: TSLA) was started as Outperform with a $300 price target at CLSA in a report from Wednesday evening.
Tiffany & Co. (NYSE: TIF) was reiterated as Buy with a $108 price target (versus a $99.47 close) at Sterne Agee. The report is on the heels of Tiffany debuting its new T Collection this week.
In case you missed Wednesday’s top analyst upgrades and downgrades, they included Activision, BHP Billiton, Dunkin’ Brands, Hertz, JetBlue, Panera Bread and more.