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

American International Group Inc. (NYSE: AIG) Raised to Outperform at William Blair.

Bankrate, Inc. (NYSE: RATE) Started as Buy at SunTrust Robinson Humphrey.

Comerica Inc. (NYSE: CMA) Cut to Market Perform at BMO.

CNOOC Ltd. (NYSE: CEO) Raised to Hold at Jefferies.

Cree Inc. (NASDAQ: CREE) Cut to Hold at ThinkEquity.

Deckers Outdoor Corporation (NASDAQ: DECK) Raised to Neutral at Stern Agee.

First Solar, Inc. (NASDAQ: FSLR) Raised to Hold at Cantor Fitzgerald; Cut to Sell at Wunderlich; Maintained as Buy but cut target $40 from $50 at Argus.

Intel Corporation (NASDAQ: INTC) Maintained Outperform with $35 target and raised 2013 estimates at Credit Suisse.

International Business Machines Corporation (NYSE: IBM) Cut to Neutral at Macquarie; Raised estimates but maintained as Neutral at Credit Suisse.

SAP AG (NYSE: SAP) Reiterated Buy with $84 target at Argus.

T. Rowe Price Group (NASDAQ: TROW) named as Bull of the Day at Zacks.

Tata Motors Ltd. (NYSE: TTM) maintained as the most undervalued stock on the price-to-book versus return on equity valuation model at Credit Suisse.

United Continental Holdings, Inc. (NYSE: UAL) named as Bear of the Day at Zacks.

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