Endo (ENDP) (EW) (FRC) (PG) (RS) (LM) Ratings, Price Targets

Endo Pharmaceuticals (NASDAQ: ENDP), Edwards Lifesciences (NYSE: EW), First Republic Bank (NYSE: FRC), Procter & Gamble (NYSE: PG), Reliance Steel & Aluminum (NYSE: RS) and Legg Mason, Inc. (NYSE: LM) ratings and price targets.

Jefferies Group (NYSE:JEF) reiterated its "Buy" rating on Endo Pharmaceuticals (ENDP).

Canaccord Genuity reiterated its "Buy" rating on Edwards Lifesciences (EW).

Jefferies Group reiterated its "Hold" rating on First Republic Bank (FRC).

Procter & Gamble (PG) was downgraded by BMO Capital Markets from an “Outperform” rating to a “Market Perform” rating.

Reliance Steel & Aluminum (RS) was downgraded by CLSA from an “Outperform” rating to an “Underperform” rating.

Legg Mason, Inc. (LM) was upgraded by Keefe, Bruyette & Woods, Inc from a “Market Perform” rating to an “Outperform” rating.

Oshkosh (OSK) (AFFX) (VAR) (EW) (VFC) (CP) Ratings, Price Targets

Oshkosh Truck (NYSE: OSK), Affymetrix, Inc. (NASDAQ: AFFX), Varian Medical Systems (NYSE: VAR), Edwards Lifesciences (NYSE: EW), V.F. Co. (NYSE: VFC) and Canadian Pacific Railway Limited (NYSE: CP) ratings and price targets.

Affymetrix, Inc. (AFFX) was upgraded by JPMorgan Chase & Co. (NYSE:JPM) from an “Underweight” rating to a “Neutral” rating.

Varian Medical Systems (VAR) was upgraded by JPMorgan Chase & Co. from a “Neutral” rating to an “Overweight” rating.

Oshkosh Truck (OSK) was upgraded by JPMorgan Chase & Co. from a “Neutral” rating to an “Overweight” rating.

Edwards Lifesciences (EW) was upgraded by JPMorgan Chase & Co. from an “Underweight” rating to a “Neutral” rating.

V.F. Co. (VFC) was upgraded by Citigroup (NYSE:C) from a “Neutral” rating to a “Buy” rating.

Canadian Pacific Railway Limited (CP) was upgraded by JPMorgan Chase & Co. from an “Underweight” rating to a “Neutral” rating. They have a price target $74.00 on the company.

HeartWare (HTWR) (EW) (GU) (JNJ) (LL) (MXIM) Price Targets Changed

HeartWare (NASDAQ: HTWR), Edwards Lifesciences (NYSE: EW), Gushan Environmental Energy Limited (NYSE: GU), Johnson & Johnson (NYSE: JNJ), Lumber Liquidators (NYSE: LL) and Maxim Integrated Products Inc. (NASDAQ: MXIM) price targets adjusted by analysts.

Edwards Lifesciences (EW) had its price target lowered by Morgan Keegan from $97.00 to $91.00. They have an “Outperform” rating on the company.

Gushan Environmental Energy Limited (GU) had its price target lowered by Ardour Capital from $4.00 to $2.00. They have a “Hold” rating on the company.

HeartWare (HTWR) had its price target lowered by Morgan Keegan from $83.00 to $73.00. They have an “Outperform” rating on the company.

Johnson & Johnson (JNJ) had its price target lowered by Morgan Keegan from $70.00 to $68.00. They have a “Market Perform” rating on the company.

Lumber Liquidators (LL) had its price target lowered by Longbow Research from $28.00 to $22.00. They have a “Buy” rating on the company.

Maxim Integrated Products Inc. (MXIM) had its price target lowered by UBS AG (NYSE:UBS) from $27.00 to $23.00. They have a “Neutral” rating on the company.

Google (GOOG) (VCLK) (BBBY) (EPM) (UHS) (EW) Get New Coverage

Google Inc. (NASDAQ: GOOG), ValueClick Inc (NASDAQ: VCLK), Bed Bath & Beyond Inc. (NASDAQ: BBBY), Evolution Petroleum Co. (NYSE: EPM), Universal Health Services (NYSE: UHS) and Edwards Lifesciences (NYSE: EW) getting new analyst coverage.

Robert W. Baird initiated coverage on Google Inc. (GOOG). They placed an “Outperform” rating and a price target of $650.00 on the company.

Robert W. Baird initiated coverage on ValueClick Inc. (VCLK). They placed a “neutral” rating and a price target of $17.00 on the company.

Longbow Research initiated coverage on Bed Bath & Beyond Inc. (BBBY). They placed a “Buy” rating and a price target of $64.00 on the company.

MLV Capital initiated coverage on Evolution Petroleum Co. (EPM). They placed a “Buy” rating and a price target of $9.00 on the company.

Auriga initiated coverage on Universal Health Services (UHS). They placed a “Buy” rating and a price target of $45.00 on the company.

Wunderlich initiated coverage on Edwards Lifesciences (EW). They placed a “Buy” rating and a price target of $75.00 on the company.

Gildan (GIL) (FFIV) (UBSI) (EW) (EXAS) (FDO) Upgraded

Gildan Activewear (NYSE: GIL), F5 Networks (NASDAQ: FFIV), United Bankshares, Inc. (NASDAQ: UBSI), Edwards Lifesciences (NYSE: EW), EXACT Sciences Co. (NASDAQ: EXAS) and Family Dollar Stores, Inc. (NYSE: FDO) upgraded by analysts.

F5 Networks (FFIV) was upgraded by Goldman Sachs (NYSE:GS) from a “Sell” rating to a “Neutral” rating. They have a price target of $94.00 on the company.

United Bankshares, Inc. (UBSI) was upgraded by UBS AG (NYSE:UBS) from a “Neutral” rating to a “Buy” rating.

Edwards Lifesciences (EW) was upgraded by Rodman & Renshaw from an “Underperform” rating to a “Market Perform” rating. They have a price target of $66.00 on the company.

Gildan Activewear (GIL) was upgraded by FBR Capital from an “Underperform” rating to a “Market Perform” rating. They have a price target of $27.00 on the company.

EXACT Sciences Co. (EXAS) was upgraded by Rodman & Renshaw from a “Market Perform” rating to an “Outperform” rating. They have a price target of $12.00 on the company, up from $7.00.

Family Dollar Stores, Inc. (FDO) was upgraded by Goldman Sachs (NYSE:GS) from a “Neutral” rating to a “Buy” rating. They have a price target of $60.00 on the company.

Statoil (STO)(VAL) (EW) (BWLD) (IFSIA) (JWN) Upgraded

Statoil (NYSE: STO), The Valspar Co. (NYSE: VAL), Edwards Lifesciences (NYSE: EW), Buffalo Wild Wings (NASDAQ: BWLD), Interface, Inc. (NASDAQ: IFSIA) and Nordstrom, Inc. (NYSE: JWN) upgraded by analysts.

Statoil (STO) was upgraded by Collins Stewart from a “Sell” rating to a “Hold” rating.

The Valspar Co. (VAL) was upgraded by analysts at JPMorgan Chase & Co. (NYSE:JPM) to an “overweight” rating.

Edwards Lifesciences (EW) was upgraded by Credit Suisse (NYSE:CS) to an “Outperform” rating.

Buffalo Wild Wings (BWLD) was upgraded by Sterne Agee from a “Neutral” rating to a “Buy” rating.

Interface, Inc. (IFSIA) was upgraded by Longbow Research from a “Neutral” rating to a “Buy” rating. They have a price target of $18.00 on the company.

Nordstrom, Inc. (JWN) was upgraded by Stifel Nicolaus from a “Hold” rating to a “Buy” rating. They have a price target of $52.00 on the company.

GT Solar (SOLR) (PAAS) (PEP) (REV) (SO) (EW) Dowgraded

GT Solar International, Inc. (NASDAQ: SOLR), Pan American Silver Corp (NASDAQ: PAAS), PepsiCo, Inc. (NYSE: PEP), Revlon Incorporated (NYSE: REV), Southern Co (NYSE: SO) and Edwards Lifesciences (NYSE: EW) downgraded by analysts.

Pan American Silver (PAAS) was downgraded by Canaccord Genuity from a “Buy” rating to a “Hold” rating.

Goldman Sachs (NYSE:GS) downgraded Southern Co (SO) from a “Neutral” rating to a “Sell” rating.

GT Solar International, Inc. (SOLR) was downgraded by Credit Agricole from an “Outperform” rating to an “Underperform” rating.

PepsiCo, Inc. (PEP) was downgraded by Goldman Sachs from a “Buy” rating to a “Neutral” rating. They have a price target of $74.00 on the company.

Edwards Lifesciences (EW) was downgraded by Rodman & Renshaw from a “Market Perform” rating to an “Underperform” rating. They have a price target of $66.00 on the company.

Revlon Incorporated (REV) was downgraded by BMO Capital Markets from an “Outperform” rating to a “Market Perform” rating.

Big Movers (SPH) (GEOI) (SIX) (EW) (TLEO) on May 6

Among the big, positive movers on Friday, May 6, were Suburban Propane (SPH), Georesources (GEOI), Six Flags Entertainment (SIX), Edwards Lifesciences (EW) and Taleo Corp. (TLEO).

Suburban Propane (SPH) jumped $1.63, to close at $53.95, a gain of 3.12 percent.

Georesources (GEOI) was up $1.62 on the day to close at $25.83, a gain of 6.69 percent.

Six Flags Entertainment (SIX) climbed $1.61 to close at $75.41, a gain of 2.18 percent.

Edwards Lifesciences (EW) rose $1.60 to close the session at $88.20, a gain of 1.85 percent.

Taleo Corp. (TLEO) was up $1.60 to end the day at $36.62, a gain of 4.57 percent.

St. Jude Medical (STJ) Earnings Drop Ends Streak

Shares of St. Jude Medical (NYSE:STJ) are trading strong even after a disappointing quarter where net income for St. Jude Medical, Inc. was down to $233.4 million, or 71 cents a share, vs. $238.6 million, or 73 cents a share last year in the same quarter, a decline of 2.2 percent.

Revenue jumped for the quarter, rising 9 percent to $1.38 billion.

St. Jude Medical missed on the average analyst estimate of 78 cents a share. Estimates ranged from 77 cents a share to 80 cents a share.

St. Jude Medical Chairman, President and Chief Executive Officer Daniel J. Starks said, “During the first quarter, we continued to make good progress in developing the new growth drivers we need to return to double-digit sales growth on a sustainable basis. Our gross margin has strengthened, we have continued to invest in research and development at an elevated rate, and our sales and earnings growth outlook have both improved. We are off to a good start making 2011 another very successful year for St. Jude Medical.”

Major competitors of St. Jude Medical include Medtronic, Inc. (NYSE:MDT), Boston Scientific Corporation (NYSE:BSX), Intuitive Surgical, Inc. (NASDAQ:ISRG), Johnson & Johnson (NYSE:JNJ), and Edwards Lifesciences Corp. (NYSE:EW).

St. Jude Medical was trading at $52.75, gaining $1.75, or 3.43 percent, as of 1:22 PM EDT.

Medical Device Makers (VOLC) (EW) (XRAY) Among Hardest Hit in Japan

A large number of sectors have been hit hard in Japan, depending on the exposure they have to the country, and one not mentioned too much so far is the medical devices market, where those with the most exposure to Japan are Volcano Corp (NASDAQ:VOLC) Edwards Lifesciences Corp (NYSE:EW) and Dentsply International Inc (NASDAQ:XRAY).

About 30 percent of revenue generated by Volcano comes from Japan. Dentsply said key suppliers have been disrupted and has withdrawn its earnings guidance for 2011. Edwards Lifesciences Corp., which makes heart valves, generates about 17 percent of its revenue in Japan. At worst, Edwards sees disruptions being temporary and see no materially impact financial results from the earthquake damage.

Even so, analysts say every company should experience some degree of loss of sales as a result of the natural disaster.

Others device makers with significant exposure in Japan are Boston Scientific Corp (NYSE:BSX), with 12 percent of total sales in Japan, St Jude Medical Inc (NYSE:STJ) and Wright Medical Group Inc (NASDAQ:WMGI) at 11 percent each, Stryker Corp (NYSE:SYK) at 10 percent and Zimmer Holdings Inc (NYSE:ZMH) at 9 percent.

Larger diversified firms with less exposure are Medtronic Inc (NYSE:MDT), Johnson & Johnson (NYSE:JNJ) and Abbott Laboratories (NYSE:ABT) with from 5 percent to 6 percent of sales coming from Japan.

Of drugmakers, the largest exposure is Merck & Co Inc (NYSE:MRK) with about 8 percent of sales coming from Japan. Bristol Myers Squibb (NYSE:BMY) only has about 3 percent of sales come from there.

Volcano Corp. closed Tuesday at $23.56, down $1.21, or 4.88 percent. Edwards Lifesciences closed at $86.23, dropping $2.23, or 2.52 percent. Densply closed at $35.63, falling $1.55, or 4.17 percent.

Edwards Lifesciences (NYSE:EW) Gives Growth Roadmap for SAPIEN TAVI

Providing a long-term growth roadmap for SAPIEN TAVI sales, Edwards Lifesciences (NYSE:EW) said they see sales reaching $2.5 billion by 2016.

Canaccord said, "EW hosted an analyst day during which it provided 2011 guidance and a very bullish long-term growth roadmap for SAPIEN TAVI. 2011 sales guidance brackets our/consensus estimates; EPS guidance is below the Street on expenses to commercialize SAPIEN in US. EW expects to spend $40M on the SAPIEN's launch ($0.10 impact). The company sees $2.5B in SAPIEN sales by 2016, which is well above our bullish projections...Absent a take-out, we believe that valuation is full in the near term."

Canaccord Genuity maintains a "Hold" rating on Edwards Lifesciences, which closed Tuesday at $78.15, up $2.10, or 2.76 percent. Canaccord raised their price target on them from $67 to $73.