Citigroup: Analysts' Upgrades, Downgrades

Citigroup is upgraded to Outperform from Perform at Oppenheimer.
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NEW YORK (

TheStreet

) --

CHANGE IN RATINGS

Beckman Coulter

(BEC)

was initiated with a Buy rating and $71 price target at Morgan Joseph, which said the company is positioned well for growth in emerging markets and has an attractive recurring revenue model.

Citigroup

(C) - Get Report

was upgraded to Outperform from Perform at Oppenheimer. $4.58 price target. Citigroup is trading below tangible book value and has attractive overseas assets, Oppenheimer said.

Cracker Barrel

(CBRL) - Get Report

was upgraded from Hold to Buy at Keybanc, which said Cracker Barrel is improving operations and should benefit from higher travel activity. $59 price target.

Chatham Lodging Trust

(CLDT) - Get Report

was initiated at Barclays with an Overweight rating and $21 price target. Chatham is expected to grow rapidly as it plans to complete $200 million worth of acquisitions per year in its initial years, Barclays said.

Dreamworks

(DWA)

was downgraded from Buy to Hold at Jefferies, which also cut estimates, as

Shrek

is performing below expectations. $28 price target.

Fortune Brands

(FO)

was upgraded to Buy at Longbow Research. $54 price target. Longbow also raised estimates for Fortune, because of higher expectations for faucet and cabinet sales.

Home Depot

(HD) - Get Report

was upgraded to Buy at Longbow Research. $39 price target. Longbow said Home Depot should see an extended period of earnings growth.

Health Net

(HNT)

was upgraded from Hold to Buy at Stifel Nicolaus, which said earnings should continue to meet or exceed expectations. $28 price target.

J. Crew

(JCG)

was downgraded to Market Perform from Outperform at BMO Capital Markets. $48 price target. Stock is already pricing in market share gains, BMO said.

Lowe's

(LOW) - Get Report

was upgraded at Longbow to Buy. $29 price target. Lowe's stock has pulled back 15%, and the company should see a long period of earnings growth, Longbow said.

Manpower

(MAN) - Get Report

was upgraded to Overweight from Equal Weight at Barclays on valuation and strong guidance. Price target lowered to $61 from $63.

Nvidia

(NVDA) - Get Report

was upgraded to Outperform from Market Perform, FBR Capital Markets said. Valuation call, as the company is slowly building valuable franchises. $18 price target.

Omnicom

(OMC) - Get Report

was upgraded to Outperform from Market Perform at BMO Capital, which said the stock looks attractive following an 18% pullback. Estimates also boosted, to reflect a big account win at Chevrolet. $45 price target.

Salary.com

(SLRY)

was downgraded to Market Weight from Overweight at Thomas Weisel as company embarks on extensive restructuring. Price target trimmed to $3.50 from $5.

Supervalu

(SVU)

was upgraded from Underweight to Equal Weight at Morgan Stanley on valuation, even though Morgan Stanley said the company still faces challenges.

Under Armour

(UA) - Get Report

was upgraded from Neutral to Buy at UBS. $38 price target. Industry checks suggest that several growth drivers are emerging for 2011, UBS said.

Waddell & Reed

(WDR) - Get Report

was downgraded from Outperform to Market Perform by FBR Capital Markets. $32 price target. Flagship asset strategy fund continues to underperform, FBR Capital said.

Dentsply International

(XRAY) - Get Report

was downgraded at Bank of America/Merrillto Neutral from Buy on concerns that 40% of XRAY sales come from Europe. Price target lowered to $36 from $41.

STOCK COMMENTS / EPS CHANGES

AES

(AES) - Get Report

2010 and 2011 EPS estimates cut to 90 cents and $1.06, respectively, at Barclays, which said AES had its strongest balance sheet in its history. Maintain Overweight rating and $14 price target.

AutoZone

(AZO) - Get Report

price target was increased to $224 from $198 at Citigroup. AutoZone's impressive third-quarter 2010 results are highlighted by continued share gains and solid comps, Citigroup said. Maintain Buy rating.

Clearwire

(CLWR)

estimates, target raised at UBS. Shares are now seen reaching $8, according to UBS. Estimates also increased, given better whole contribution. Neutral rating.

Petrohawk Energy

(HK)

estimates were raised through 2011 at UBS. The Company held an upbeat analyst meeting and should see better volume growth next year, UBS said. Buy rating and $28 price target.

Netgear

(NTGR) - Get Report

price target was cut to $30 from $33 at Bank of America/Merrill Lynch. European exposure already priced into shares, and Netgear's hedging strategy is working as intended for the second quarter, Bank of America/Merrill Lynch said. Estimates lowered through 2012. Reiterate Buy rating.

Metro PCS

(PCS)

numbers boosted at UBS. Shares now seen reaching $10. Estimates also raised, given greater number of subscribers and new pricing. Buy rating.

Sara Lee

(SLE)

price target was boosted to $14.50 at Morgan Stanley, which said management appears confident about continued business momentum. Equal Weight rating.

Trina Solar Limited

(TSL)

price target, estimates were cut at Barclays. Price target lowered to $20 from $27 on disappointing first-quarter results and weak second-quarter guidance. 2010 and 2011 EPS estimates were trimmed to $1.93 and $1.55, respectively. Maintain Equal Weight rating.

This article was written by a staff member of TheStreet.com.