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Equity Briefing: Upgrades and Downgrades for August 23rd: AB, ACAS, ADTN, AEO, AKS, ANH, ARCC, ARLP, ASH, BHP

Thu, 08/23/2012 - 7:13am
The Associated Press

A number of stocks were upgraded and downgraded by equities research analysts today, as reported by Analyst Ratings Network (http://bit.ly/arndailyr) and Equity Briefing:

Credit Suisse  upgraded shares of AllianceBernstein Holding LP (NYSE: AB) from a neutral rating to an outperform rating. Credit Suisse now has a $16.00 price target on the stock, up previously from $14.50.

Stephens  initiated coverage on shares of American Capital (NASDAQ: ACAS). They issued an overweight rating on the stock and set a $13.00 price target.

Credit Suisse  downgraded shares of ADTRAN, Inc. (NASDAQ: ADTN) from a neutral rating to an underperform rating. Their analysts now have a $18.00 price target on the stock, down previously from $22.00.

Nomura  reiterated its buy rating on shares of American Eagle (NYSE: AEO).

Dahlman Rose  downgraded shares of AK Steel Holding Co. (NYSE: AKS) from a hold rating to a sell rating. Their analysts now have a $5.00 price target on the stock.

Sterne Agee  upgraded shares of Anworth Mortgage Asset Co. (NYSE: ANH) from a neutral rating to a buy rating. Sterne Agee now has a $7.20 price target on the stock.

Stephens  initiated coverage on shares of Ares Capital (NASDAQ: ARCC). They issued an overweight rating on the stock.

Global Hunter Securities  initiated coverage on shares of Alliance Resource (NASDAQ: ARLP). They issued a neutral rating on the stock and set a $68.00 price target.

Jefferies Group  reiterated its buy rating on shares of Ashland Inc. (NYSE: ASH).

Nomura  reiterated its buy rating on shares of BHP Billiton (NYSE: BHP).

Piper Jaffray  raised its price target on shares of BJ's Restaurants, Inc. (NASDAQ: BJRI) to $45.00.

Piper Jaffray  raised its price target on shares of Cheesecake Factory (NASDAQ: CAKE) to $37.00. They have an overweight rating on the stock.

Jefferies Group  reiterated its positive rating on shares of Calix Networks (NASDAQ: CALX).

Credit Agricole  initiated coverage on shares of Caterpillar Inc. (NYSE: CAT). They issued an outperform rating on the stock and set a $105.00 price target.

Dahlman Rose  initiated coverage on shares of CGG Veritas (NYSE: CGV). They issued a buy rating on the stock and set a $42.00 price target.

Nomura  reiterated its neutral rating on shares of Chico's (NYSE: CHS).

Howard Weil  lowered its price target on shares of Continental Resources, Inc. (NYSE: CLR) from $88.00 to $85.00. They have a market perform rating on the stock.

DA Davidson  initiated coverage on shares of Clearwire (NASDAQ: CLWR). They issued a neutral rating on the stock and set a $1.90 price target.

Cantor Fitzgerald  downgraded shares of CoreSite Realty Corp (NYSE: COR) from a buy rating to a hold rating. Their analysts now have a $28.00 price target on the stock.

Jefferies Group  reiterated its buy rating on shares of Covidien plc (NYSE: COV).

Barclays Capital  initiated coverage on shares of Cirrus Logic, Inc. (NASDAQ: CRUS). They issued an overweight rating on the stock and set a $47.00 price target.

Stay on top of analysts' coverage with Analyst Ratings Network's free daily email newsletter that provides a concise list of analysts' upgrades, downgrades and initiations. Register at http://bit.ly/arndailyr

Content and Media Contact: newseditor@equitybriefing.com

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Equity Briefing via Thomson Reuters ONE

HUG#1635965

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