Top Analyst Upgrades and Downgrades (ADBE, AA, AAPL, ARRY, CHK, CMG, EMC, HOV, MTG, SNDK, SPG)

These are some of the key research calls from this Thursday’s analyst upgrades, downgrades, and initiations seen from Wall Street research calls:

Adobe Systems Inc. (NASDAQ: ADBE) Reiterated Buy but added to Conviction Buy List at Goldman Sachs.
Alcoa, Inc. (NYSE: AA) Raised to Neutral at HSBC.
Apple Inc. (NASDAQ: AAPL) technical price target issued at $320 to $230 at INO (short affiliate audio-video).
Array Biopharma, Inc. (NASDAQ: ARRY) Cut to Neutral at UBS.
Chesapeake Energy Corporation (NYSE: CHK) Started as Neutral at Susquehanna.
Chipotle Mexican Grill, Inc. (NYSE: CMG) Raised to Buy from Underperform at Jefferies; Raised to Perform at Oppenheimer.
EMC Corp. (NYSE: EMC) Maintained Buy but removed from Conviction Buy List at Goldman Sachs.
Hovnanian Enterprises, Inc. (NYSE: HOV) Cut to Sell at UBS.
MGIC Investment Corporation (NYSE: MTG) Raised to Outperform at KBW.
SanDisk Corporation (NASDAQ: SNDK) Maintained Sell with $31 target at Auriga.
Simon Property Group Inc. (NYSE: SPG) Started as Hold at Jefferies.

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JON C. OGG