Top Analyst Upgrades and Downgrades: Analog Devices, Chelsea Therapeutics, Tesla, Westport, More

Analog Devices Inc. (NASDAQ: ADI) released earnings on Tuesday, and it raised the dividend by 9% and set a share buyback of up to $1 billion. Many analysts are raising their price targets: up to $60 at Canaccord Genuity. up to $55 at J.P. Morgan, up to $61 at Pacific Crest and up to $55 at Credit Suisse.

Chelsea Therapeutics International Ltd. (NASDAQ: CHTP) is surging after confirming an accelerated FDA approval of its Northera for the treatment of low blood pressure. Shares were up more than 30% to $6.65 in active trading. Deutsche bank raised its price target to $8, and Needham & Co. raised its price target to $10.

Tesla Motors Inc. (NASDAQ: TSLA) was started as Market Perform with a $150 price target (versus a $203.70 close) at FBR Capital Markets. Keep in mind that a competing call brought a price target upgrade to $215 just yesterday.

Westport Innovations Inc. (NASDAQ: WPRT) was started with an Outperform and assigned a $25 price target at FBR Capital Markets. This was also one of the 24/7 Wall St. picks for stocks that could double in 2014.

Other Key Analyst Calls

Actavis PLC (NYSE: ACT) was raised to Buy from Neutral, and the price target was raised to $250 from $185, at Goldman Sachs on the heels of the Forest Labs acquisition.

Capstone Turbine Corp. (NASDAQ: CPST) was raised to Outperform from Market Perform at FBR Capital Markets.

Calpine Corp. (NYSE: CPN) was downgraded to Neutral from Buy at UBS.

Cemex SAB de C.V. (NYSE: CX) was raised to Buy with price target of $16 at Sterne Agee.

Dillard’s Inc. (NYSE: DDS) was started as Neutral at Citigroup.

Dollar General Corp. (NYSE: DG) was downgraded to Market Perform from Outperform at Wells Fargo.

First Solar Inc. (NASDAQ: FSLR) was started as Market Perform at FBR Capital Markets.

Gogo Inc. (NASDAQ: GOGO) was raised to Overweight from Equal Weight at Evercore Partners.

J.C. Penney Co. Inc. (NYSE: JCP) was started with a Neutral rating at Citigroup.

Macy’s Inc. (NYSE: M) was started with a Buy rating at Citigroup.

SolarCity Corp. (NASDAQ: SCTY) was downgraded to Neutral from Outperform at RW Baird.

SunEdison Inc. (NYSE: SUNE) was started as Outperform and with a $20 price target (versus a $15.18 close) at FBR Capital Markets. Shares are indicated lower by more than 2% because of the earnings report.

SunPower Corp. (NASDAQ: SPWR) was started as Market Perform by FBR Capital Markets.

United Rentals Inc. (NYSE: URI) was started with a Buy rating at Stifel Nicolaus.