Panasonic (PC) (CYT) (DEO) (MUSA) (FIS) Downgraded

Panasonic Co. (NYSE: PC), Cytec Industries Inc. (NYSE: CYT), Diageo (NYSE: DEO), Metals USA Holdings Corp (NASDAQ: MUSA) and Fidelity National Information Services (NYSE: FIS) downgraded by analysts.

Panasonic Co. (PC) was downgraded by Credit Agricole from an “Outperform” rating to an “Underperform” rating.

Cytec Industries Inc. (CYT) was downgraded by Jefferies (NYSE:JEF) from a “Buy” rating to a “Hold” rating.

Diageo (DEO) was downgraded by Nomura to a “Neutral” rating.

Metals USA Holdings Corporation (MUSA) was downgraded by Keybanc from a “Buy” rating to a “Hold” rating.

Fidelity National Information Services (FIS) was downgraded by Goldman Sachs (NYSE:GS) from a “Buy” rating to a “Neutral” rating.

AK Steel (AKS) (MUSA) (WFT) (SBUX) (RFMD) (PETM) Upgraded

AK Steel Holding Co. (NYSE: AKS), Metals USA Holdings Corp (NASDAQ: MUSA), Weatherford (NYSE: WFT), Starbucks (NASDAQ: SBUX), RF Micro Device (NASDAQ: RFMD) and Petsmart Inc (NASDAQ: PETM) upgraded by analysts.

AK Steel Holding Co. (AKS) was upgraded by CRT Capital to a “Buy” rating.

Metals USA Holdings Corp. (MUSA) was upgraded by Davenport from a “Neutral” rating to a “Buy” rating.

Weatherford (WFT) was upgraded by Pritchard from a “Neutral” rating to a “Buy” rating.

Starbucks (SBUX) was upgraded by Janney Montgomery Scott from a “Neutral” rating to a “Buy” rating.

RF Micro Device (RFMD) was upgraded by Craig Hallum from a “Hold” rating to a “Buy” rating.

Petsmart (PETM) was upgraded by Piper Jaffray (NYSE:PJC) from a “Neutral” rating to an “Overweight” rating. They have a price target of $53.00 on the company.

Visa (V) (KMP) (LL) (MUSA) (WMS) Have Price Targets Adjusted by Analysts

Visa (NYSE: V), Kinder Morgan Energy Partners LP (NYSE: KMP), Lumber Liquidators (NYSE: LL), Metals USA Holdings Corp (NASDAQ: MUSA) and WMS Industries Inc. (NYSE: WMS) have price targets changed by analysts.

Morgan Keegan raised their price target on Kinder Morgan Energy Partners LP (KMP) to $79.00.

Piper Jaffray (NYSE:PJC) cut their price target on Lumber Liquidators (LL) to $20.00.

Jefferies (NYSE:JEF) cut their price target on Metals USA Holdings Corp (MUSA) to $20.00.

Argus raised their price target on Visa Inc. (V) from $95.00 to $100.00. They have a “buy” rating on the company.

Jefferies cut their price target on WMS Industries Inc. (WMS) to $32.00. They have a “hold” rating on the company.

JPMorgan (JPM) Recommends Newmont (NEM), (FCX), (MUSA), (STLD), Others

JPMorgan (NYSE:JPM), says Newmont Mining Corp. (NYSE:NEM), Metals USA Holdings Corp. (NYSE:MUSA), Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) and Steel Dynamics Inc. (NASDAQ:STLD) are solid picks if an investor believes oil prices will remain high.

Also noted were Thompson Creek Metals Co. (NYSE:TC), DHT Holdings Inc. (NYSE:DHT), Amgen Inc. (NASDAQ:AMGN), Jabil Circuit Inc. (NYSE:JBL) and Gilead Sciences Inc. (NASDAQ:GILD) as having a lot of potential in a high oil price environment.

Thomas Lee, chief U.S. equity strategist at JPMorgan said there’s “downside risk” to the 2011 S&P 500 earnings-per-share estimate of $97.50, though not to the 1,425 year-end forecast.

Lee said every $20-a-barrel rise in the price of oil has an impact of $2.22 in earnings per share for the Standard & Poor’s 500 Index.

Stocks JPMorgan sees as those to avoid in this economic environment are Affymetrix Inc. (NASDAQ:AFFX), Standard Pacific Corp. (NYSE:SPF), MDC Holdings Inc. (NYSE:MDC) and Beazer Homes USA Inc. (NYSE:BZH).