2012-12-12 17:48:15 -

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

UBS AG raised its price target on shares of Urban Outfitters, Inc. (URBN) from
$37.00 to $39.00. They have a neutral rating on the stock.

Credit Suisse downgraded shares of Volcano (VOLC) from an outperform rating to a
neutral rating. Their analysts now have a $27.00 price target on the stock, down
previously from $32.00. They wrote, "While we do not see achievement of the
acquisition metrics outlined above as unreasonable by any means, our analysis
suggests that VOLC will have to execute solidly on upcoming M&A in order to
create shareholder value with the potential for further dilution if funds are
spent on earlier stage/limited revenue   assets. Thus, while we continue to see
VOLC as a unique top-line growth story, we are moving to the sidelines pending
further clarity on potential M&A activity."

JPMorgan Chase initiated coverage on shares of Valeant Pharmaceuticals (VRX).
They issued an overweight rating on the stock and set a $75.00 price target.

Davenport upgraded shares of Walter Energy (WLT) from a neutral rating to a buy
rating. Davenport now has a $42.00 price target on the stock. They wrote, "The
upgrade is based on our view that WLT's valuation multiple will peak in 2013,
driven by a recovery in met coal prices. We expect a rebound in met prices will
drive improved investor sentiment towards WLT. This should propel its multiple
to peak levels as investors anticipate higher met prices driving significant
earnings growth in 2014."

Goldman Sachs initiated coverage on shares of Xcel Energy Inc. (XEL). They
issued a neutral rating on the stock and set a $29.00 price target. They noted
that the move was a valuation call. They noted that the move was a valuation
call.

Macquarie downgraded shares of Xcel Energy Inc. (XEL) from an outperform rating
to a neutral rating. Their analysts now have a $28.00 price target on the stock.

Credit Suisse initiated coverage on shares of Yelp (YELP). They issued an
outperform rating on the stock and set a $25.00 price target. They wrote, "Our
analysis suggests that the conversion rate of claimed local businesses to active
local accounts is greater by a factor of 2x for the older domestic cohorts. Yelp
has also disclosed that its International markets are essentially unmonetized.
Hence, it is currently generating its Local Advertising revenue from just
36,000 businesses, out of over 27 million in the US alone. Our long-term
estimates and price target are based on Yelp reaching 220,000 subscribers in
five years; we do not think this is a large ask given the size of the market."

JPMorgan Chase initiated coverage on shares of Yelp (YELP). They issued a
neutral rating on the stock and set a $19.00 price target.

Zacks reiterated its neutral rating on shares of Yahoo! Inc. (YHOO). They have a
$20.00 price target on the stock. Zacks' analyst wrote, "Yahoo! Inc. is one of
the leading providers of web-based services and advertisements. Third quarter
earnings beat the Zacks Consensus Estimate. Yahoo's search business faces
extremely tough competition from Google and Microsoft's ad platform is not
generating enough yet. We are encouraged by the refocusing of the company, the
many product upgrades and growth initiatives implemented, which are improving
engagement on Yahoo properties. However, Yahoo is not one of our favorite plays
in the space, given the uncertainty surrounding the search business,
deterioration of display ad revenue share and its limited progress in the fast-
growing mobile search segment. Reiterate Neutral."

Jefferies Group downgraded shares of ZIOPHARM Oncology Inc (ZIOP) from a buy
rating to a hold rating. Their analysts now have a $4.00 price target on the
stock, down previously from $7.00.

Goldman Sachs upgraded shares of Zimmer Holdings, Inc. (ZMH) from a sell rating
to a neutral rating. They wrote, "Our investment thesis is based on the
following factors: (1) improving outlook on US orthopaedic surgical volumes; (2)
decelerating rates of pricing pressure; (3) capital allocation optionality with
the potential for larger free cash flow returns to shareholders; and (4) shares
appear fairly valued at current levels. Since being added to the Americas Sell
List on August 9, 2011, ZMH shares are up 20.5% vs. the S&P 500 up 21.0%. On a
trailing 12-month basis, ZMH is +33.0% vs. the S&P 500 +13.0%."

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