Archer Daniels Midland ( ADM) upgraded at BMO to Outperform. $38 price target. Underlying fundamentals appear to be improving.

Adtran ( ADTN) upgraded at Morgan Stanley from Equal-weight to Overweight. $45 price target. Company has multiple potential sales drivers.

BB&T ( BBT) downgraded at Credit Suisse to Underperform from Neutral. Higher rates have reduced unrealized bond gains, reducing ability to offset charge-offs with reserves, Credit Suisse said. Price target trimmed by a dollar to $28.

Cheesecake Factory ( CAKE) upgraded at Piper from Underweight to Neutral, Piper Jaffray said. Company has a clean balanced sheet and is positioned well to grow in 2011.

Comerica ( CMA) downgraded at Citigroup from Hold to Sell, Citigroup said. $40 price target. Stock is already pricing in potential interest rate hikes.

Chipotle ( CMG) upgraded at Piper from Neutral to Overweight, Piper Jaffray said. Company is a market leader with attractive demographic trends. $265 price target.

CMS Energy ( CMS) downgraded at Oppenheimer from Outperform to Perform, Oppenheimer said. Valuation call.

Centene Corp ( CNC) upgraded at Barclays to Overweight from Equal Weight. Centene will maintain a solid set of assets in the growing market of Medicaid-managed care, Barclays said. Price target raised to $32 from $25.

Charles River ( CRL) downgraded at Deutsche from Buy to Hold, Deutsche Bank said. Valuation call, as the company has limited near-term visibility. $37 price target.

DR Horton ( DHI) downgraded at Barclays to Equal Weight from Overweight. Valuation call, Barclays said. Maintain $13 price target.

DR Horton ( DHI)upgraded at Wells to Outperform. Housing activity should improve in each of the next two years.

Entergy ( ETR) downgraded at JP Morgan from Overweight to Neutral, JP Morgan said. $76 price target. Company faces headline risk at its nuclear arm.

ExxonMobil ( XOM) upgraded at Oppenheimer from Perform to Outperform, Oppenheimer said. $90 price target. Higher oil prices should allow the company to accelerate its buyback program.

Hershey ( HSY) upgraded at Janney to Buy, Janney Montgomery said. $54 price target. Company has reinvested earnings and should see a few years of solid growth upcoming.

Lamar Advertising ( LAMR) downgraded at Barclays to Equal Weight from Overweight. Economic uncertainty depresses small business ad budgets, Barclays said. Price target trimmed to $36 from $38.

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