Clovis (CLVS) (CYN) (EWBC) (WBS) (NBHGY) (ACHC) Ratings, Price Targets

Clovis Oncology Inc. (NASDAQ: CLVS), City National Co. (NYSE: CYN), East West Bancorp Inc. (NASDAQ: EWBC), Webster Financial Corp. (NYSE: WBS), NOBEL BIOCARE (NASDAQ: NBHGY) and Acadia Healthcare (ACHC) ratings and price targets.

Clovis Oncology Inc. (CLVS) is now covered by Leerink Swann. They placed an “Outperform” rating on the company.

City National Co. (CYN) is now covered by Deutsche Bank (NYSE:DB). They placed a “Hold” rating on the company.

East West Bancorp Inc. (EWBC) is now covered by Deutsche Bank (NYSE:DB). They placed a “Hold” rating on the company.

Webster Financial Corp. (WBS) was downgraded by Sandler O'Neill to a “Hold” rating.

NOBEL BIOCARE (NBHGY) was upgraded by JPMorgan Chase & Co. (NYSE:JPM) from an “Underweight” rating to a “Neutral” rating.

Acadia Healthcare (ACHC) is now covered by Raymond James (NYSE:RJF). They placed an “Outperform” rating on the company.

Embraer (ERJ) (EWBC) (JAZZ) (ALK) (AMRS) (COLM) (ERJ) Upgraded

Embraer (NYSE: ERJ), East West Bancorp Inc. (NASDAQ: EWBC), Jazz Pharmaceuticals, Inc. (NASDAQ: JAZZ), Alaska Air (NYSE: ALK), Amyris Inc. (NASDAQ: AMRS), Columbia Sportswear (NASDAQ: COLM) and Embraer (NYSE: ERJ) were upgraded by analysts.

East West Bancorp Inc. (EWBC) was upgraded by FBR Capital from a “Market Perform” rating to an “Outperform” rating. They have a price target of $23.00 on the company.

Jazz Pharmaceuticals, Inc. (JAZZ) was upgraded by Jefferies (NYSE:JEF) from a “Hold” rating to a “Buy” rating. They have a price target of $52.00 on the company, up from $29.00.

Alaska Air (ALK) was upgraded by Dahlman Rose from a “Hold” rating to a “Buy” rating. They have a price target of $75.00 on the company.

Amyris Inc. (AMRS) was upgraded by Morgan Stanley (NYSE:MS) from an “Equal Weight” rating to an “Overweight” rating. They have a price target of $32.00 on the company.

Columbia Sportswear (COLM) was upgraded by McAdams Wright Ragen from a “Hold” rating to a “Buy” rating. They have a price target of $69.00 on the company.

Embraer (ERJ) was upgraded by JPMorgan Chase & Co. (NYSE:JPM) from a “Neutral” rating to an “Overweight” rating.

East West Bancorp (NASDAQ:EWBC) Downgraded on Valuation

Although Keefe, Bruyette & Woods like the potential of East West Bancorp (NASDAQ:EWBC) in the long term, short-term their valuation causes them to downgrade the bank.

KBW says, "EWBC posted solid 4Q10 results, delivering
ongoing improvement to its NIM and strong C&I loan growth,
maintaining its asset quality, and repaying TARP funding, which returns capital management flexibility to the bank...Downgrading to MP on valuation, but we still believe in East West's potential on a long-term basis and consider it to be a key California franchise."

Keefe, Bruyette & Woods downgraded East West Bancorp (EWBC)
to "Market Perform." KBW raised their price target on EWBC to $22.

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.