Upgrades: UBS upgrades Cott (COT 2.47) to Neutral from Sell... Citigroup upgrades salesforce.com (CRM 56.53) to Buy from Hold and maintains their $70 tgt, based on attractive valuation mitigating potential risks and C2H08 bringing positive stock and business seasonality, further combined with continuing themes of international adoption and operating margin break-out.
Downgrades: Oppenheimer downgrades Broadcom (BRCM 26.17) to Perform from Outperform, as they see a deceleration in Q408 that could affect BRCM's multiple for several quarters and note recent broadband and enterprise strength could be inventory- or order pattern-related, and a return to trendline will hurt future revenue... Jefferies downgrades Grey Wolf (GW 8.48) to Hold from Buy and lowers their tgt to $9 from $11.50, following the announcement that Precision Drilling will buy Grey Wolf for a cash and stock transaction valued around $9... Jefferies downgrades Marvell Tech (MRVL 15.67) to Hold from Buy and cuts their tgt to $15 from $22 saying they recommend investors move to the sidelines due to potential H.D.D inventory and material share loss at RIMM coupled with their belief that Marvell no longer deserves a premium multiple given its high exposure to the maturing HDD market and weak cellular positioning.