Pepsi ( PEP) upgraded at UBS from Neutral to Buy. $60 price target. Cost inflation should moderate by the fourth quarter, and sales trends are improving. Pentair ( PNR) rated new Equal-weight at Barclays Capital. $20 price target. Company has seen a sharp downturn in orders, but still holds attractive franchises. Research in Motion ( RIMM) rated new Hold at Kaufman Brothers. $50 price target. Company is experiencing margin compression. Research in Motion ( RIMM) downgraded at J.P. Morgan with an Underweight rating due to inevitable declines in average sales prices and growing R&D expenses. Believe that company has reached peak earnings power, but growth rate will slow over the next 18 months as enterprise net adds fall victim to rising unemployment. Price target at $40. Western Digital ( WDC) upgraded at Goldman Sachs to Buy from Neutral based on presence in faster-growing areas such as 2.5" notebook HDD and branded retail. Expect hard drive channel inventory snapback in the short-term, with potential intermediate-term increases in demand. Price target raised to $22 from $20.50. Williams-Sonoma ( WSM) downgraded at Barclays Capital from Equal-weight to Underweight. $8 price target. Stock is up 150% since November, which doesn't factor several risks the company faces.