Upgrades and Downgrades (PAR, ARRS, CP, CL, XRAY, DRC, EEP, HUM, KLAC, PNR, PT, TKC, BJ, DTE, G, MYL, RES, HAL, TSYS, WLL, VLCM)

Published on Friday, 30 July 2010 08:08 Written by Danny Miller

New York, July 30th (TradersHuddle.com) – Following are some of the top upgrades and downgrades before the market open.

Upgrades:

3Par (NYSE:PAR), the provider of utility computing storage services, was upgraded to a Hold from Sell at Canaccord Genuity.

Arris (NASDAQ:ARRS) was upgraded to a Hold from Underperform at Jefferies.

Canadian Pacific Railway (NYSE:CP), the Class 1 transcontinental railway, was upgraded to a Buy from Hold at BB&T. The firm set its target price at $70.

Colgate-Palmolive (NYSE:CL) was upgraded to a Buy from Neutral at Janney Montgomery Scott. Colgate reported is corporate results yesterday.

Dentsply (NASDAQ:XRAY), the dental supplies provider, was upgraded to a Buy from Hold at Soleil.

Dresser-Rand (NYSE:DRC) was upgraded to a Buy from Neutral at Global Hunter, with a target of $48.

Enbridge Energy (NYSE:EEP) was upgraded to Outperform from Market Perform at Morgan Keegan.

Humana (NYSE:HUM), the managed healthcare provider, was upgraded to Market Perform from Underperform at BMO Capital, ahead of its earnings report.

KLA-Tencor (NASDAQ:KLAC), the maker of yield management and process monitoring systems for the semiconductor industry, was upgraded to a Hold from Sell at Citigroup.

Pentair (NYSE:PNR) was upgraded to a Buy from Neutral at Janney Montgomery Scott.

Portugal Telecom (NYSE:PT) was upgraded to Market Perform from Underperform at Bernstein.

Turkcell (NYSE:TKC), the Turkish wireless provider, was upgraded to Neutral from Sell at Goldman.

Downgrades:

BJ's Wholesale (NYSE:BJ) was downgraded to a Neutral from Outperform at Cowen.

DTE Energy (NYSE:DTE), the diversified energy company based in Detroit Michigan, was downgraded to a Hold from Buy at Citigroup. CL

Genpact (NYSE:G), the company that helps streamline business processes, was downgraded to a Sell from Hold at Kaufman Brothers. The firm lowered its target price to $13 from $17 based on a maturing BPO market, concern growth in 2011 might disappoint, and an increased risk profile.

Mylan (NYSE:MYL), the generic and specialty pharmaceuticals company, was downgraded to Perform from Outperform at Oppenheimer following earnings. The firm believes contracting guidance is a signal that Mylan will be negatively impacted by continued pricing pressure and currency exchange rates. Additional priceing pressure in some of its markets will make a challenging environment for Mylan to achieve expected margins.

RPC Inc (NYSE:RES) and Halliburton (NYSE:HAL), the oil services companies, were downgraded to Market Perform from Outperform at FBR Capital. The firm believes the market is pricing-in near peak expectations for North American hydraulic fracturing earnings and underestimating the magnitude of the supply response already well underway. The industry is adding capacity, but is likely to overbuild.

TeleComm Systems (NASDAQ:TSYS) was downgraded to Perform from Outperform at Oppenheimer, following disappointing results and guidance. The firm said messaging systems weakness is expected to persist as SMS volume growth moderates.

Whiting Petroleum (NYSE:WLL) was downgraded to Neutral from Buy at SunTrust.

Volcom (NASDAQ:VLCM), the maker of men's and women's clothing, accessories, and related products, was downgraded to a Hold from Buy at Needham.