Baidu: Analysts' Upgrades, Dowgrades

Change in Ratings

American Eagle(AEO Quote) was upgraded to Buy, Lazard Capital Markets said. Valuation call, based on a $22 price target. Sales trends are also accelerating.

Credit Suisse upgraded Aflac(AFL Quote) to Outperform from Neutral on improved fundamental trends. Price target increased to $60 from $52. 2009 and 2010 EPS estimates set at $4.86 and $5.25, respectively.

Abercrombie & Fitch(ANF Quote) was upgraded to Outperform, Friedman, Billings Ramsey said. Expect more promotions, especially at Hollister, to combat market share losses.

Baidu(BIDU Quote) was downgraded to Market Perform, Bernstein Research said. $460 price target. Valuation has caught up with the fundamentals.

Deere(DE Quote) was upgraded from Market Perform to Outperform, Wells Fargo said. Company had a strong quarter, and earnings should bottom in 2010. Also, Deere estimates were increased through 2011, Goldman Sachs said. Improving commodity prices should boost farm demand. Neutral rating and new $57 price target.

Genzyme(GENZ Quote) was upgraded from Hold to Buy, Citigroup said. $63 price target. Cerezyme shipments are approaching, and the stock is already pricing in several potential negative news items.

Liberty Global(LBTYA Quote) initiated at JP Morgan. Initiated with a Neutral rating and $23.50 price target. Introduces 2009 EPS estimates of -$2.77.

Supervalu(SVU Quote) was downgraded from Equal-weight to Underweight, Morgan Stanley said. Company will struggle to try and turn around its core grocery business.

Safeway(SWY Quote) was upgraded to Equal-weight, Morgan Stanley said. Company appears to be making progress in its price positioning.

US Bancorp(USB Quote) was upgraded from Neutral to Outperform, Robert Baird said. Valuation call, based on a $29 price target. Company is on a clear path to return to normalized earnings.

Watson Pharmaceuticals(WPI Quote) was upgraded from Hold to Buy, Citigroup said. $48 price target. Expect Arrow purchase to add to earnings as well as improving generic margins.