SM Energy (SM) (AGPPY) (KYO) (ZUMZ) (CM) (HGSI) (ICON) Ratings, Price Targets

SM Energy (SM), Anglo Platinum Limited (AGPPY), Kyocera Co. (KYO), Zumiez (ZUMZ), CIBC (CM), Human Genome Sciences (HGSI) and Iconix Brand Group (ICON) had ratings and price targets on them adjusted by analysts.

HSBC downgraded Anglo Platinum Limited (AGPPY) from a "Neutral" rating to an "Underweight" rating.

Bank of America downgraded Kyocera Co. (KYO) from a "Buy" rating to a "Neutral" rating.

Caris & Co. downgraded SM Energy (SM) to an "Average" rating.

DA Davidson downgraded Zumiez (ZUMZ) from a "Buy" rating to a "Neutral" rating.

Credit Suisse downgraded CIBC (CM) from an "Outperform" rating to a "Neutral" rating.

Collins Stewart downgraded Human Genome Sciences (HGSI) from a "Buy" rating to a "Neutral" rating. They cut their price from $17.00 to $10.00 on the company.

Lazard Capital downgraded Iconix Brand Group (ICON) from a "Buy" rating to a "Neutral" rating.

SM Energy (SM) (JNPR) (ED) (EIHI) (CVGW) (CVGI) Ratings, Price Targets

SM Energy (NYSE: SM), Juniper Networks (NASDAQ: JNPR), Consolidated Edison, Inc. (NYSE: ED), Eastern Insurance Holdings, Inc. (NASDAQ: EIHI), Calavo Growers, Inc. (NASDAQ: CVGW) and Commercial Vehicle Group, Inc. (NASDAQ: CVGI) ratings and price targets.

SM Energy (SM) is now covered by Caris & Co.. They have an “average” rating on the firm.

Juniper Networks (JNPR) had its price target lowered by FBN Securities to $20.00. They have a “market perform” rating on the firm.

Consolidated Edison, Inc. (ED) was downgraded by ISI Group from a “hold” rating to a “sell” rating. They have a price target of $56.00 on the firm.

Eastern Insurance Holdings, Inc. (EIHI) was downgraded by Zacks Investment Research from an “outperform” rating to a “neutral” rating.

Calavo Growers, Inc. (CVGW) was upgraded by Zacks Investment Research from a “neutral” rating to an “outperform” rating.

Commercial Vehicle Group, Inc. (CVGI) was upgraded by Zacks Investment Research from a “neutral” rating to an “outperform” rating.

Vantage (VTG) (CF) (MCD) (SM) (AFAM) (ELON) Upgraded

Vantage Drilling Company (NYSE: VTG), CF Industries Holdings Inc (NYSE: CF), McDonald’s (NYSE: MCD), SM Energy (NYSE: SM), Almost Family, Inc. (NASDAQ: AFAM) and Echelon Co. (NASDAQ: ELON) upgraded by analysts.

CF Industries Holdings Inc. (CF) was upgraded by Goldman Sachs (NYSE:GS) from a “Sell” rating to a “Neutral” rating.

Echelon Co. (ELON) was upgraded by Jefferies (NYSE:JEF) from a “Hold” rating to a “Buy” rating. They have a price target of $11.00 on the company, up from $10.50.

McDonald’s (MCD) was upgraded by Piper Jaffray (NYSE:PJC) from a “Neutral” rating to an “Overweight” rating. They have a price target of $98.00 on the company.

SM Energy (SM) was upgraded by Jefferies from a “Hold” rating to a “Buy” rating. They have a price target of $114.00 on the company, up from $73.00.

Vantage Drilling Company (VTG) was upgraded by Wells Fargo & Co. (NYSE:WFC) from a “Market Perform” rating to an “Outperform” rating.

Almost Family, Inc. (AFAM) was upgraded by Robert W. Baird from an “Underperform” rating to a “Neutral” rating. They have a price target of $21.00 on the company.

Vale (VALE) (HUM) (SM) (OSG) (NVMI) (INTU) Price Targets Changed

Vale (NASDAQ: VALE), Humana (NYSE: HUM), SM Energy (NYSE: SM), Overseas Shipholding Group Inc. (NYSE: OSG), Nova Measuring Instruments Ltd. (NASDAQ: NVMI) and Intuit Inc. (NASDAQ: INTU) price targets adjusted by analysts.

Humana (HUM) had its price target raised by Goldman Sachs (NYSE:GS) to $100.00. They have a “Neutral” rating on the company.

Intuit Inc. (INTU) had its price target lowered by Jefferies (NYSE:JEF) to $53.00. They have a “Buy” rating on the company.

SM Energy (SM) had its price target raised by Stifel Nicolaus from $95.00 to $100.00. They have a “Buy” rating on the company.

Overseas Shipholding Group Inc. (OSG) had its price target lowered by Deutsche Bank (NYSE:DB) from $27.00 to $22.00. They have a “Hold” rating on the company.

Nova Measuring Instruments Ltd. (NVMI) had its price target lowered by Needham & Company from $16.00 to $14.00. They have a “Strong Buy” rating on the company.

Vale (VALE) had its price target lowered by Dahlman Rose from $45.00 to $43.00. They have a “Buy” rating on the company.

Transocean (RIG) (TCK) (WLT) (SM) (RKT) All Upgraded

Transocean (NYSE: RIG), Teck Resources Limited (NYSE: TCK), Walter Energy (NYSE: WLT), SM Energy (NYSE: SM) and Rock-Tenn Company (NYSE: RKT) upgraded by analysts.

Jefferies (NYSE: JEF) upgraded Transocean (NYSE: RIG) to a

“Buy” rating. They have a price target of $80.00 on the company.

JPMorgan Chase & Co. (NYSE: JPM) upgraded Rock-Tenn Company (RKT) from a “Neutral” rating to an “Overweight” rating. They have a price target of $80.00 on the company.

Wells Fargo & Co. (NYSE: WFC) upgraded SM Energy (SM) from a “Market Perform” rating to an “Outperform” rating.

BMO Capital Markets upgraded Teck Resources Limited (TCK) from a “Market Perform” rating to an “Outperform” rating.

BMO Capital Markets upgraded Walter Energy (WLT) to an “outperform” rating.

Petrohawk (HK) Bid from BHP (BHP) Pushes Up (PXD) (SM) (SFY)

Shares of companies like Pioneer Natural Resources (NYSE:PXD), SM Energy (NYSE:SM) and Swift Energy (NYSE:SFY), which own acreage in Eagle Ford, got a big boost from the premium offered from BHP Billiton (NYSE:BHP) for Petrohawk (NYSE:HK).

BHP's bid of $38.75 a share, was a 60 percent premium over the Thursday close of $23.79 a share by Petrohawk. The $12.1 billion bid was an all-cash offer.

Immediate response from some analysts is this deal is more than likely specific to Petrohawk, rather than an industry consolidation trend. Even so, it is good news for some in the natural gas industry, which could benefit from possible higher valuations as a result.

Swift Energy was trading at $40.92, gaining $3.18, or 8.43 percent, as of 10:51 AM EDT. SM Energy was at $77.97, up $5.83, or 8.08 percent. Pioneer Natural Resources was trading at $92.91, up $6.82, or 7.92 percent. HK was at $28.21, jumping $14.72, or 62.66 percent.

Other companies with large exposure to natural gas were also trading up on the day. EOG Resources (NYSE:EOG) was trading at $100.98, up $4.27, or 4.42 percent. EQT Corporation was at $57.13, gaining $2.40, or 4.39 percent. Carrizo Oil & Gas was at $39.44, up $1.45, or 3.82 percent. Chesapeake Energy (NYSE:CHK) was at $32.12, soaring $1.91, or 6.32 percent.

Pioneer Natural Resources holds 310,000 acres in the Eagle Ford. SM Energy holds 250,000 acres in the Eagle Ford, and Swift Energy holds 79,000 acres in the Eagle Ford.

BHP was trading at $91.15, down $1.13, or 1.22 percent.

Big Movers (INFY) (SM) (PTR) (ONXX) (EOC) on May 6

Among the big, positive movers on Friday, May 6, were Infosys Technologies (INFY), Sm Energy Company (SM), Petrochina Company (PTR), Onyx Pharmaceuticals (ONXX) and Empresa Nacional (EOC).

Infosys Technologies (INFY) jumped $1.52, to close at $64.82, a gain of 2.40 percent.

Sm Energy Company (SM) was up $1.51 on the day to close at $65.26, a gain of 2.37 percent.

Petrochina Company (PTR) climbed $1.51 to close at $134.89, a gain of 1.13 percent.

Onyx Pharmaceuticals (ONXX) rose $1.50 to close the session at $39.81, a gain of 3.92 percent.

Empresa Nacional (EOC) was up $1.50 to end the day at $25.38, a gain of 2.74 percent.

Chesapeake (CHK) (SM) (ETP) (KMI) Trade Mixed as Natural Gas Jumps

SM Energy (NYSE:SM), Energy Transfer Partners (NYSE:ETP), Kinder Morgan (NYSE:KMI) and Chesapeake Energy (NYSE:CHK) were trading mixed as June futures contracts for natural gas jumped today after a report from the U.S. Energy Information Administration revealed inventories rose slower than expected.

June natural gas contracts climbed 3.2 percent to $4.548 per million British thermal units after hitting a one-month high at $4.559.

The U.S. Energy Information Administration reported Thursday that natural gas storage levels climbed 31 billion cubic feet (Bcf) to 1,685 Bcf as of Friday, April 22. On average, analysts were looking for an injection of 35 bcf.

Stocks were 215 Bcf below the same time last year and 11 Bcf less than the five-year average of 1,696 Bcf.

United States Natural Gas Fund (NYSE:UNG) is trading up on the news, rising to $11.76, gaining $0.38, or 3.34 percent, as of 12:04 PM EDT.

SM Energy Company's (NYSE:SM) Cash Flows to Trail Capex

SM Energy Company (NYSE:SM) will continue to be challenged by capex and cash flow, according to Jefferies, although they still raised their PT and EPS on the company.

Jefferies said, "cash flows should continue to trail capex as activity remains robust in the Eagle Ford and Williston. Ample borrowing capacity and asset sales should help plug the deficit."

They boosted their full year 2011 EPS estimate from $0.94 to $1.10, as earnings drivers should continue on. Jefferies introduced their full year 2012 EPS estimate at $1.52.

Jefferies maintains a "Hold" rating on SM Energy, which closed Wednesday at $59.02, gaining $2.98, or 5.32 percent. Jefferies also raised their price target on SM to $56.

Netflix (NASDAQ:NFLX) Replaces Office Depot (NYSE:OD) on S&P 500

Several changes were made to the S&P 500 Thursday, with one of the more notable ones being the addition of Netflix (NASDAQ:NFLX), which will be replacing Office Depot (NYSE:OD) on the index.

Other changes made include the addition of Cablevision Systems Corp. (NYSE:CVC), which is replacing King Pharmaceuticals Inc. (NYSE:KG) because of being acquired by Pfizer (NYSE:PFE).

Also being dropped from the S&P is Eastman Kodak (NYSE:EK) and the New York Times (NYSE:NYT), who will be replaced by Newfield Exploration (NYSE:NFX) and F5 Networks (NASDAQ:FFIV).

Stocks removed from the S&P 500 will be lowered to the mid-cap 400 index.

Also noted in the S&P report was changes to the SmallCap 600, where Coldwater Creek Inc. (NASD:CWTR), Corinthian Colleges Inc. (NASD:COCO) and Wilmington Trust Corp. (NYSE:WL) will be replaced by East West Bancorp Inc. (NASD: EWBC), SM Energy Co. (NYSE:SM) and Concur Technologies Inc.

Those removed from the SmallCap 600 will be placed in the S&P MidCap 400.