Analysts' Upgrades, Downgrades: Nokia

CHANGE IN RATINGS

Biomarin (BMRN Quote) upgraded at Citigroup from Hold to Buy. $17 price target. Valuation call, as the company should see little effect from the new Obama healthcare plan.

Chicago Bridge & Iron (CBI Quote) upgraded at Goldman Sachs to Neutral from Sell. Shares are down 32% since last week due to concerns over liquidity and capacity to back future awards. Believe market is pricing in a high level of financial distress that isn't warranted. Price target cut to $7 from $9.

CBS (CBS Quote) upgraded at Pali from Sell to Neutral. Valuation call, even though estimates were also cut.

Celanese (CE Quote) upgraded at Goldman Sachs to Buy from Neutral based on valuation and early signs of improvements in China. Note company's early-cycle end markets and defensive growth opportunities. Price target at $10. ...