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Top Analyst Upgrades & Downgrades (AAPL, AXS, CEPH, DELL, INTC, MU, PTIE, PM, TIBX)

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Wednesday morning.

Apple Inc. (NASDAQ: AAPL) Maintained Buy with $450 target but lowered estimates at Jefferies.
AXIS Capital Holdings (NYSE: AXS) Cut to Underperform as Bear of the Day at Zacks.
Cephalon, Inc. (NASDAQ: CEPH) Dropped from Buy on buyout at BofA/ML.
Dell, Inc. (NASDAQ: DELL) maintained Outperform as Bull of the Day at Zacks, but Dell also Cut to Hold at Needham.
Intel Corporation (NASDAQ: INTC) on Focus List with Outperform rating and $28 target at Credit Suisse.
Micron Technology Inc. (NASDAQ: MU) Reiterated Outperform and $15 target at Credit Suisse.
Pain Therapeutics Inc. (NASDAQ: PTIE) STarted as Buy with $12 target at BofA/ML.
Philip Morris International (NYSE: PM) Added to Conviction Buy List at Goldman Sachs.
TIBCO Software Inc. (NASDAQ: TIBX) Raised to Buy at BofA/ML.

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JON C. OGG

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