Red Hat, Celgene: Analysts' New Ratings

Editor's Note: Green and red arrows refer to intraday stock price movement.

NEW YORK ( TheStreet) -- CHANGE IN RATINGS

Biogen Idec ( BIIB) upgraded at RBC from Sector Perform to Outperform, RBC Capital said. $75 price target. New analyst expects Tysabri to perform above consensus expectations.

Celgene ( CELG) downgraded at RBC from Outperform to Sector Perform, RBC Capital said. $55 price target. Valuation call, as the stock is already pricing in solid 2011 growth.

Chesapeake Energy ( CHK) upgraded at Canaccord from Hold to Buy, Canaccord Genuity said. $49 price target. Company is improving capital productivity and realizing higher gas prices.

Ciena ( CIEN) rated new Outperform at Wells Fargo. Company is leveraged to a multi-year optical upgrade cycle.

Celestica ( CLS) upgraded at Collins Stewart from Neutral to Buy, Collins Stewart said. $15 price target. Company is turning its business around and winning new customers.

Flextronics ( FLEX) upgraded at Collins Stewart from Neutral to Buy, Collins Stewart said. $11 price target. Company can deliver double-digit growth in each of the next two years.

Fluor ( FLR) upgraded at BMO from Underperform to Market Perform, BMO Capital said. $66 price target. Company has a solid balance sheet, and can absorb losses from two fixed-price contracts.

Netease.com ( NTES) upgraded at Brean Murray from Hold to Buy, Brean Murray said. $54 price target. Company is seeing higher demand across the board.

Ormat Technologies ( ORA) downgraded at Baird to Neutral from Outperform, Robert Baird said. $24 price target. Company lowered its guidance, because of rising costs.

Oracle ( ORCL) rated new Hold at ThinkEquity. $35 price target. Stock is already pricing in solid near-term growth.

Quanta Services ( PWR) downgraded at Deutsche Bank to Hold. $22 price target. Valuation call, as the stock is up 26% over the past three months.

Regeneron Pharmaceuticals ( REGN) upgraded at RBC from Sector Perform to Outperform, RBC Capital said. $48 price target. Company continues to price solid clinical data.

Red Hat ( RHT) downgraded at JP Morgan from Neutral to Underweight. $32 price target. Valuation call, as the stock is already pricing in healthy free cash flow growth.

Sprint Nextel ( S) rated new Buy at Kaufman Bros. $6.25 price target. Valuation call, as business is beginning to stabilize.

Tellabs ( TLAB) rated new Market Perform at Wells Fargo. Legacy businesses still account for about half of sales.

URS ( URS) rated new Buy at BB&T Capital. $59 price target. Company is among the leaders in multiple end markets.

This article was written by a staff member of TheStreet.

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