Analyst Actions: Dell, Intel Upgraded; Warburg Slams Aetna

Dell (DELL - Cramer's Take - Stockpickr) was one of the few stocks in positive territory early on, having received some endorsements from brokerages. Banc of America Securities upped it to strong buy from buy, as did Robertson Stephens, and Bear Stearns raised the stock to buy from attractive. Dell lately was up 1 5/8 to 52 13/16.

Robbie Stephens also lifted Intel (INTC - Cramer's Take - Stockpickr) to strong buy from buy.

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Warburg Dillon Read downgraded Aetna (AET - Cramer's Take - Stockpickr) to reduce from hold, a day after Aetna rejected a $70-a-share takeover offer from WellPoint Health Networks (WLP - Cramer's Take - Stockpickr). It's rare that a Wall Street firm will unleash a rating below hold/neutral, but Warburg reportedly said it's concerned about Aetna management and its "ability to effectively manage the company through this tumultuous period."

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U.S. Bancorp Piper Jaffray upgraded Avid Technology (AVID - Cramer's Take - Stockpickr) to buy from neutral, setting a price target of 40.

Credit Suisse First Boston cut its rating on Chiron (CHIR - Cramer's Take - Stockpickr) to buy from strong buy.

Thomas Weisel Partners analyst Doug van Dorsten started coverage of Eloquent (ELOQ - Cramer's Take - Stockpickr) with a buy rating and a 12-month price target of 60.

J.P. Morgan set a 12-month price target for FleetBoston Financial (FBF - Cramer's Take - Stockpickr) at 38.

Donaldson Lufkin & Jenrette upped Kohl's (KSS - Cramer's Take - Stockpickr) to buy from market performer.

SG Cowen said it started coverage of Landacorp (LCOR - Cramer's Take - Stockpickr) as a strong buy.

Thomas Weisel analyst Keith Gay initiated coverage on VarsityBooks.com (VSTY - Cramer's Take - Stockpickr) with a buy rating.