Plains (PXP) (CTL) (PNNT) (CVH) (PETD) (DF) Upgraded

Plains Exploration & Production Company (NYSE: PXP), CenturyLink, Inc. (NYSE: CTL), PennantPark Investment Corp. (NASDAQ: PNNT), Coventry Health Care, Inc. (NYSE: CVH), Petroleum Development Co. (NASDAQ: PETD) and Dean Foods Co (NYSE: DF) upgraded by analysts.

Plains Exploration & Production Company (PXP) was upgraded by Global Hunter Securities from an “Accumulate” rating to a “Buy” rating. They have a price target of $54.00 on the company, up from $40.00.

CenturyLink, Inc. (CTL) was upgraded by DA Davidson from an “Underperform” rating to a “Neutral” rating. They have a price target of $36.00 on the company.

PennantPark Investment Corp. (PNNT) was upgraded by Stifel Nicolaus from a “Hold” rating to a “Buy” rating. They have a price target of $12.00 on the company.

Coventry Health Care, Inc. (CVH) was upgraded by Standpoint Research from a “Hold” rating to a “Buy” rating. They have a price target of $35.00 on the company.

Petroleum Development Co. (PETD) was upgraded by Hilliard Lyons from a “Neutral” rating to a “Long” rating. They have a price target of $40.00 on the company.

Dean Foods Co. (DF) was upgraded by Credit Suisse (NYSE:CS) from an “Underperform” rating to a “Neutral” rating. They have a price target of $10.00 on the company.

Price Targets (MA) (MRK) (NTGR) (PETD) (RDNT) Weekly Recap

Price targets on shares of MasterCard (NYSE: MA), Merck & Co Inc (NYSE: MRK), NetGear Inc (NASDAQ: NTGR), Petroleum Development Co. (NASDAQ: PETD) and Radnet Incorporated (NASDAQ: RDNT) updated by analysts during the last week.

Argus raised their price target on MasterCard (MA) from $300.00 to $325.00. They have a “buy” rating on the company.

UBS AG (NYSE:UBS) raised their price target on Merck & Co Inc (MRK) from $40.00 to $42.00. They have a “buy” rating on the company.

Bank of America (NYSE:BAC) raised their price target on NetGear Inc (NASDAQ: NTGR) from $44.00 to $50.00. They have a “buy” rating on the company.

Pritchard cut their price target on Petroleum Development Co. (PETD) from $52.00 to $50.00. They have a “neutral” rating on the company.

Morgan Keegan raised their price target on Radnet Incorporated (RDNT) from $4.30 to $5.15. They have an “outperform” rating on the company.

Ratings Upgrade for (PETD) by Credit Suisse (CS)

Credit Suisse (CS) upgraded shares of Petroleum Development Corp. (NASDAQ:PETD) from "Neutral" to "Outperform," citing the recent pullback is a buying opportunity.

Weak results in the first quarter caused the share price of the company to get punished, but it rebounded strongly on Thursday, closing up by almost 9 percent.

Credit Suisse noted that the company has a deep oil-weighted project inventory that the market isn't taking into account concerning the valuation of the company.

Petroleum Development Corporation participates in the exploration for, development, production, and marketing of oil and natural gas.

It closed Thursday at $35.38, gaining $2.91, or 8.96 percent.

Ratings on (PETD) (PFCB) (SCHN) (VR) Upgraded

Ratings on shares of Petroleum Development Co. (NASDAQ: PETD), P.F. Chang’s China Bistro (NASDAQ: PFCB), Schnitzer Steel (NASDAQ: SCHN) and Validus Holdings, Ltd. (NYSE: VR) upgraded by analysts.

Credit Suisse (NYSE:CS) upgraded Petroleum Development Co. (PETD) from a “neutral” rating to an “outperform” rating. They have a price target of $42.00 on the company.

Raymond James (NYSE:RJF) upgraded P.F. Chang’s China Bistro (PFCB) from a “market perform” rating to an “outperform” rating.

Credit Agricole upgraded Schnitzer Steel (SCHN) to an “outperform” rating.

Stifel Nicolaus upgraded Validus Holdings, Ltd. (VR) from a “hold” rating to a “buy” rating. They have a price target of $40.00 on the company.

Price Targets on (PEGA) (HTHT) (PETD) (M) (PNM) Updated

Price targets on shares of Pegasystems Inc. (NASDAQ: PEGA), China Lodging Group (NASDAQ: HTHT), Petroleum Development Co. (NASDAQ: PETD), Macy’s (NYSE: M) and PNM Resources, Inc. (NYSE: PNM) updated by analysts.

Dougherty & Co. raised their price target on Pegasystems Inc. (PEGA) from $34.00 to $42.00. They have a “neutral” rating on the company.

BMC Equities Research analysts raised their price target on shares of China Lodging Group (HTHT) from $22.00 to $26.00. They have a “buy” rating on the company.

Bank of America (NYSE:BAC) cut their price target on Petroleum Development Co. (PETD) from $48.00 to $41.00. They have a “buy” rating on the company.

Citigroup (NYSE:C) raised their price target on Macy’s (M) from $32.00 to $44.00. They have a “buy” rating on the company.

Ladenburg Thalmann raised their price target on PNM Resources, Inc. (PNM) from $15.00 to $16.50. They have a “neutral” rating on the company.

Price Targets on (PEGA) (HTHT) (PETD) (M) (PNM) Updated

Price targets on shares of Pegasystems Inc. (NASDAQ: PEGA), China Lodging Group (NASDAQ: HTHT), Petroleum Development Co. (NASDAQ: PETD), Macy’s (NYSE: M) and PNM Resources, Inc. (NYSE: PNM) updated by analysts.

Dougherty & Co. raised their price target on Pegasystems Inc. (PEGA) from $34.00 to $42.00. They have a “neutral” rating on the company.

BMC Equities Research analysts raised their price target on shares of China Lodging Group (HTHT) from $22.00 to $26.00. They have a “buy” rating on the company.

Bank of America (NYSE:BAC) cut their price target on Petroleum Development Co. (PETD) from $48.00 to $41.00. They have a “buy” rating on the company.

Citigroup (NYSE:C) raised their price target on Macy’s (M) from $32.00 to $44.00. They have a “buy” rating on the company.

Ladenburg Thalmann raised their price target on PNM Resources, Inc. (PNM) from $15.00 to $16.50. They have a “neutral” rating on the company.

Price Targets on (MA) (MRK) (NTGR) (PETD) (RDNT) Updated

Price targets on MasterCard (NYSE: MA), Merck & Co Inc (NYSE: MRK), NetGear Inc (NASDAQ: NTGR), Petroleum Development Co. (NASDAQ: PETD) and Radnet Incorporated (NASDAQ: RDNT) were updated by analysts.

Argus raised their price target on MasterCard (MA) from $300.00 to $325.00. They have a “buy” rating on the company.

UBS AG (NYSE:UBS) raised their price target on Merck & Co Inc (MRK) from $40.00 to $42.00. They have a “buy” rating on the company.

Bank of America (NYSE:BAC) raised their price target on NetGear Inc (NTGR) from $44.00 to $50.00. They have a “buy” rating on the company.

Pritchard cut their price target on Petroleum Development Co. (PETD) from $52.00 to $50.00. They have a “neutral” rating on the company.

Morgan Keegan raised their price target on Radnet Incorporated (RDNT) from $4.30 to $5.15. They have an “outperform” rating on the company.

Biggest Winners (BEN) (PETD) (PTRY) (WCRX) (CAVM) on May 6

Among the winners on Friday, May 6, as measured by share price increases, were Franklin Resources (BEN), Petroleum Development (PETD), The Pantry (PTRY), Warner Chilcott Plc (WCRX) and Cavium Networks (CAVM).

Franklin Resources (BEN) was up $1.31, to close at $126.27, a gain of 1.05 percent.

Petroleum Development (PETD) jumped $1.31 on the day to close at $36.97, an increase of 3.67 percent.

The Pantry (PTRY) rose $1.31 to close at $16.35, a boost of 8.71 percent.

Warner Chilcott Plc (WCRX) soared $1.31 to close the session at $23.50, a gain of 5.90 percent.

Cavium Networks (CAVM) surged $1.31 to end the day at $46.12, climbing 2.92 percent.

Anadarko (NYSE:APC), Rex Energy (Nasdaq: REXX), Carrizo (Nasdaq:CRZO), Petroleum Development (Nasdaq:PETD) and QEP (NYSE:QEP) Niobrara Results Anticipated

Anticipation is growing over the Niobrara well results from energy companies like Anadarko (NYSE:APC), Rex Energy (Nasdaq:REXX), Carrizo (Nasdaq:CRZO), Petroleum Development (Nasdaq:PETD) and QEP (NYSE:QEP), who are expected to release findings over the next several months.

Barclays (NYSE:BCS) noted, "The Niobrara could be the next big oil-shale play. The Eagleford and arguably the Bakken and Barnett are the others. Activity in the area has picked up and we expect a slew of new well results (many in untested areas) over the coming months. Chesapeake's (NYSE:CHK) much anticipated JV deal could add to the buzz.

"News flow is expected to increase soon. Anadarko Petroleum, Rex Energy, Carrizo, Petroleum Development and QEP Resources are all due to report results from horizontal wells targeting the Niobrara between now and late January/mid-February. SM has recently completed its second well in Laramie county and NBL is also drilling its first wells in Wyoming. EOG has been monitoring well performance looking for more proof of matrix support and will provide an update in early 2011. Bill Barrett (NYSE:BBG) is testing the prospectivity of its acreage in the Wind River Basin. Continental Resources (NYSE:CLR) and Marathon Oil (NYSE:MRO) should spud their first wells soon."

Anadarko closed Thursday at $69.07, up $0.43, or 0.63 percent. Rex Energy closed at $12.35, up $0.25, or 2.07 percent. Carrizon ended the session at $30.31, up $1.21, or 4.16 percent. Petroleum Development was at $38.82, up $0.04, or 0.10 percent. QEP Resources ended the day at $37.29, up $0.08, or 0.22 percent.