Top Analyst Upgrades & Downgrades (ADI, APA, DAN, DELL, EXM, BEN, GIL, GG, HPQ, INTC, ICE, KBH, QIHU, RIMM, SPG, UA, VOD)

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

Analog Devices Inc. (NYSE: ADI) Reiterated Buy and Raised target to $53 at Gleacher & Co.
Apache Corporation (NYSE: APA) Reiterated Buy at BofA/ML.
Dana Holding Corporation (NYSE: DAN) Reiterated Strong Buy as Value at Zacks.
Dell Inc. (NASDAQ: DELL) Raised estimates but Maintained Underperform at Credit Suisse.
Excel Maritime Carriers (NYSE: EXM) Cut to Underperform as Bear of the Day at Zacks.
Franklin Resources Inc. (NYSE: BEN) Maintained Outperform as Bull of the Day at Zacks.
Gildan Activewear Inc. (NYSE: GIL) Started as Buy at BofA/ML.
Goldcorp (NYSE: GG) Raised to Overweight at HSBC.
Hewlett-Packard Co. (NYSE: HPQ) Cut to Neutral at JPMorgan; Cut to Hold at Brean Murray.
Intel Corporation (NASDAQ: INTC) Reiterated Outperform and Focus List at Credit Suisse; Maintained Buy with $28 target at Gleacher & Co.
IntercontinentalExchange Inc. (NYSE: ICE) Reiterated Buy and Raised estimate at Argus.
KB Home (NYSE: KBH) Raised to Neutral at UBS.
Qihoo 360 Technology Co. Ltd. (NYSE: QIHU) Started as Buy with $33 target at UBS.
Research-in-Motion Ltd. (NASDAQ: RIMM) Raised to Market Perform at Bernstein.
Simon Property Group Inc. (NYSE: SPG) Reiterated Buy and raised target to $125 at Argus.
Under Armour, Inc. (NYSE: UA) Raised to Buy at Citigroup.
Vodafone Group plc (NYSE: VOD) Raised to Buy at S&P Equity Research.

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JON C. OGG