Top Analyst Upgrades and Downgrades (ALU, NLY, ARMH, BIIB, BX, COF, CS, DFS, IGT, NUAN, KORS, RVBD, VOD, DIS)

Alcatel-Lucent S.A. (NYSE: ALU) raised to Overweight at Morgan Stanley and reiterated Hold at Argus.

Annaly Capital Management Inc. (NYSE: NLY) raised to Neutral from Underperform at Stern Agee.

ARM Holdings PLC (NASDAQ: ARMH) had seen a major downgrade wave but now shares have been raised to Outperform at Credit Suisse.

Biogen Idec Inc. (NASDAQ: BIIB) raised to Buy with $167 price target at Citigroup and reiterated Outperform and raised target to $185 from $175 at Credit Suisse.

Blackstone Group L.P. (NYSE: BX) reiterated Buy and raised target price to $22 from $18 at Argus.

Capital One Financial Corp. (NYSE: COF) named Bear of the Day on concerns about what is in its portfolio at Zacks.

Credit Suisse Group (NYSE: CS) cut to Hold at Deutsche Bank.

Discover Financial Services (NYSE: DFS) raised to Outperform and raised target price to $47 from $44 at Credit Suisse.

International Game Technology (NYSE: IGT) raised to Buy with $20 target at Argus.

Nuance Communications Inc. (NASDAQ: NUAN) cut to Hold at Needham.

Michael Kors Holdings Ltd. (NYSE: KORS) named Bull of the Day as the high-end and “accessible” luxury demand fashion this designer’s growth around the world at Zacks.

Riverbed Technology Inc. (NASDAQ: RVBD) cut to Hold at Cantor Fitzgerald and cut to Market Perform at FBR Capital Markets.

Vodafone Group PLC (NASDAQ: VOD) raised to Buy at BofA/Merrill Lynch.

Walt Disney Co. (NYSE: DIS) reiterated Buy and raised target by $5 to $65 at Argus.