Equity Brief: Ratings Changes for November 8th: CS, CVS, DAR, DECK, DISCA, DISH, DSX, DVN, ED

A number of stocks were upgraded and downgraded by equities research analysts today, as reported by Analyst Ratings Network (http://bit.ly/equitybriefdaily) and Equity Brief:

HSBC downgraded shares of Credit Suisse (CS) from an overweight rating to a neutral rating.

Zacks reiterated its neutral rating on shares of CVS Caremark (CVS). They have a $49.00 price target on the stock.

Maxim Group downgraded shares of Darling International Inc. (DAR) from a buy rating to a hold rating.

Zacks upgraded shares of Deckers Outdoor (DECK) from an underperform rating to a neutral rating. Zacks now has a $36.00 price target on the stock.

MKM Partners lowered its price target on shares of Discovery (DISCA) from $64.00 to $62.00. They have a neutral rating on the stock.

Brean Murray raised its price target on shares of DISH (DISH) from $40.00 to $42.00. They have a buy rating on the stock.

DNB Markets initiated coverage on shares of Diana Shipping Inc. (DSX). They issued a buy rating on the stock and set a $8.80 price target. They wrote, "We expect 2012 to mark the trough in dry bulk utilisation, at 83%, rising to 84% in 2013 and 87% in 2014 on a declining order book and longer sailing distances. We forecast annual ton-mile demand growth of 11% over 2013-2015, versus 9% annually over 2004-2007. We expect global export iron ore and coal capacity to increase by 10% p.a., after canvassing, and compiling data from, c90% of the world's iron ore, coal ports and miners. Our port study makes us confident commodity prices will stay low, justifying our above-trend demand growth assumption, arguing China will be incentivised to import rather than rely on domestic production due to higher production costs domestically."

UBS AG downgraded shares of Devon Energy Co. (DVN) from a buy rating to a neutral rating.

Citigroup downgraded shares of Devon Energy Co. (DVN) from a buy rating to a neutral rating.

RBC Capital upgraded shares of Consolidated Edison, Inc. (ED) from an underperform rating to a sector perform rating. RBC Capital now has a $60.00 price target on the stock.

Zacks reiterated its neutral rating on shares of Edison International (EIX). They have a $48.00 price target on the stock. Zacks' analyst wrote, "Based on lower-than-expected third-quarter 2012 earnings, delay in the 2012 General Rate Case (GRC) rate case decision, and continuing losses at the Midwest Generation unit, we maintain our long-term Neutral recommendation on the Edison International stock. Going forward, our modestly bullish outlook for the company is supported by the consistent performance of its stable utility operations, California's supportive regulatory environment, steep growth in the rate base, incremental dividend, and ongoing alternative energy projects in-line with the renewable energy mandate. However, several factors continue to weigh on the Edison International stock, including a tepid economy, volatile gas prices and the pending regulatory approval for recovery of capital expansion costs."

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