Analyst Actions - LTRE ALTH BCON HEV ROVI SPWRA and more

Upgrades & Downgrades

Today's analyst actions highlight big moves at Learning Tree, Rovi, Allos Therapeutics, Beacon Power, Ener1 and Sun Hydraulics.

Relative Tickers: NYSE: AYI, NYSE: HMY, Nasdaq: NRGY, NYSE: IVR, Nasdaq: LTRE, Nasdaq: NTAP, Nasdaq: ROVI, NYSE: VTR, Nasdaq: ALTH, Nasdaq: ATHR, Nasdaq: BCON, Nasdaq: HEV, NYSE: IDA, NYSE: KIM, NYSE: NSM, Nasdaq: SNHY, Nasdaq: SPWRA, NYSE: WMG, NYSE: DIA, NYSE: SPY, Nasdaq: QQQQ, NYSE: DOG, NYSE: SDS, NYSE: QLD, NYSE: NYX, NYSE: ICE, Nasdaq: NDAQ)

Analyst Actions

Upgrades:

Acuity Brands (NYSE: AYI) was upgraded to BUY from Hold by Canaccord Adams. The stock traded up 0.7% on better than average volume Wednesday. The stock is just off its 52-week high. Acuity Brands just launched organic LED lighting. The stock trades at about 24X its August fiscal year consensus EPS estimate, putting its PEG ratio at 0.75, when applying the 32% growth forecast for FY 12.

Harmony Gold (NYSE: HMY) was upgraded to NEUTRAL from Underweight by HSBC Securities (NYSE: HBC). The stock dropped 3% today on about average volume.

Inergy (Nasdaq: NRGY) was upgraded today to OUTPERFORM from Market Perform by Morgan Keegan. The stock traded down 2.4% on 10X normal volume. The company reported results on the 10th, and gapped open lower today.

Invesco Mortgage Capital (NYSE: IVR) was upgraded to BUY from Hold today by Stifel Nicolaus. The stock inched up by a fraction on less than normal volume. The company had just reported results on Tuesday.

Learning Tree (Nasdaq: LTRE) was upgraded to BUY from Hold by Stifel Nicolaus. The stock climbed 12% on 8.6X normal volume today. The company reported results on Tuesday, and gapped open higher Wednesday morning.

NetApp (Nasdaq: NTAP) was upgraded to OUTPERFORM from Sector Perform by RBC Capital Markets. The stock was down fractionally on less than normal volume.

Rovi (Nasdaq: ROVI) was upgraded to BUY from Hold by Maxim Group. The stock jumped 17.7% on 6X normal volume. ROVI reported results on Tuesday, and seemed to enthuse the market on its guidance.

Ventas (NYSE: VTR) was upgraded to BUY from Hold at Stifel Nicolaus. The stock hardly moved, though on more than two times normal volume.

Downgrades:

Allos Therapeutics (Nasdaq: ALTH) was downgraded to HOLD from Buy at Needham. The stock dropped 9% on 6X normal volume and was trading near its 52-week low. The company’s earnings disappointed, reported Tuesday night.

Atheros Communications (Nasdaq: ATHR) was downgraded to MARKET PERFORM from Outperform by FBR Capital. The stock hardly moved, and still sits at its 52-week high.

Beacon Power (Nasdaq: BCON) was downgraded to HOLD from Accumulate at Ardour Capital. BCON dropped 9.6% on somewhat heavier volume, and is at its 52-week low. The company reported EPS results on Tuesday.

Ener1 (Nasdaq: HEV) was downgraded to SELL from Hold at Wunderlich. The stock collapsed 27% on 4X normal volume, and sits at its 52-week low. The company reported a loss, driving the share action.

IdaCorp (NYSE: IDA) was downgraded to HOLD from Buy at KeyBanc Capital Markets. The stock was down 1.6% on twice normal volume.

Kimco Realty (NYSE: KIM) was downgraded to NEUTRAL from Buy at UBS (NYSE: UBS). The stock was off 2% on normal volume, while trading still near its high on the year.

National Semi (NYSE: NSM) was downgraded to MARKET PERFORM from Outperform at FBR Capital. The stock hardly moved on little volume and still sits near its 52-week high.

Sun Hydraulics (Nasdaq: SNHY) was downgraded to NEUTRAL from Outperform at Robert W. Baird. The stock dropped 9% on little volume, but still 5X normal volume.

SunPower (Nasdaq: SPWRA) was cut to HOLD from Buy at Brigantine. The stock lost a percentage point on the day and still sits near its 52-week high.

Warner Music Group (NYSE: WMG) was downgraded to HOLD from Buy at Needham. The stock hardly moved on normal volume.



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