Charles Schwab ( SCHW) downgraded at Wells from Outperform to Market Perform, Wells Fargo said. Company lacks near-term catalysts.

Southern Company ( SO) downgraded at JP Morgan from Neutral to Underweight, JP Morgan said. Smaller utilities offer better values at current levels.

Safeway ( SWY) upgraded at Jefferies to Buy from Hold, Jefferies said. $25 price target. Improving employment, especially in all-important California market.

Ultra Petroleum ( UPL) downgraded at Stifel from Buy to Hold, Stifel Nicolaus said. Company will be hurt by lower natural gas prices.

United Parcel ( UPS) downgraded at JP Morgan from Overweight to Neutral, JP Morgan said. $82 price target. Company is facing slower volumes and cost pressures.

URS ( URS) rated new Buy at Lazard. $48 price target. Company should post solid earnings in 2012.

VMware ( VMW) downgraded at Citigroup from Neutral to Sell, Citigroup said. $80 price target. Incremental concern about slowdown in core server business.

Wisconsin Energy ( WEC) downgraded at Baird from Outperform to Neutral, Robert Baird said. Valuation call, based on a $35 price target.

Williams Sonoma ( WSM) downgraded at Wedbush from Outperform to Neutral, Wedbush said. $35 price target. Promotions on national brands are not likely to go away.

Xcel Energy ( XEL) downgraded at Baird from Outperform to Neutral, Robert Baird said. $27 price target. Company faces increased regulatory risk.

STOCK COMMENTS / EPS CHANGES

AmerisourceBergen ( ABC) estimates, target lowered at UBS. Shares of ABC now seen reaching $44, according to UBS. Estimates also lowered on Medco distribution contract. Buy rating.

AGCO ( AGCO) target raised at Jefferies to $60. Lean manufacturing beginning to yield margin improvements. Buy rating.

Yamana Gold ( AUY) numbers boosted at Credit Suisse. Shares of AUY now seen reaching $20, according to Credit Suisse. Estimates also upped, given higher expected production growth. Outperform rating.

Blackstone Group ( BX) numbers raised at Jefferies. Shares of BX now seen reaching $18, Jefferies said. Estimates also raised as marks set to improve. Buy rating.

CONSOL Energy ( CNX) numbers cut at UBS. Shares of CNX now seen reaching $78, according to UBS. Estimates also lowered on lowered natural gas forecast. Buy rating.

Covance ( CVD) estimates, target lowered at Citigroup. Shares of CVD now seen reaching $55, according to Citigroup. Estimates also lowered on headwinds and IT spending. Buy rating.

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