Analysts' Upgrades, Downgrades: Chevron

Change in Ratings

AgilentA price target raised at Goldman to $38 from $37, based on better-than-expected quarterly results and positive guidance. Note that company provided revenue and earnings guidance for two forward quarters (historically only one quarter). Maintained neutral rating.

Atwood OceanicsATW initiated at UBS with a buy rating and $125 price target. 2008 EPS estimates introduced at $6.57.

CellcomCEL upgraded at Jefferies to buy from neutral. 2008 EPS estimates raised to $2.70 from $2.15. Price target raised to $40 from $33.

ChevronCVX upgraded at UBS to buy from neutral. 2008 EPS estimates raised to $12.94 from $9.53. Price target raised to $115 from $100.

Diamond OffshoreDO initiated at UBS with a buy rating and $160 price target. 2008 EPS estimates introduced at $10.00.

Ensco InternationalESV initiated at UBS with a buy rating and an $85 price target. Introduces 2008 EPS estimates of $8.13.

Hercules OffshoreHERO initiated at UBS with a neutral rating and $35 price target. Introduces 2008 EPS estimates of $1.46.

Longs Drug StoresLDG initiated at UBS with a buy rating and $55 price target. Introduces fiscal 2009 EPS estimates of $3.07.

Noble CorporationNE initiated at UBS with a buy rating and $81 price target. 2008 EPS estimates set at $6.06.

Price InternationalPDE initiated at UBS with a neutral rating and $49 price target. Introduces 2008 EPS estimates of $4.94.

Plains Exploration & ProductionPXP upgraded at UBS to buy from neutral. 2008 EPS estimates raised to $14.68 from $12.66. Price target raised to $80 from $75.