Thursday's Analysts' Upgrades and Downgrades

Sirius (SIRI) downgraded at Wachovia: SIRI was downgraded to Market Perform, Wachovia said. Fourth quarter subscriber expectations appear aggressive, especially as auto churn comes up.

Sirius (SIRI) estimates upped at Goldman: Goldman said it is increasing its 2006 estimates on SIRI by 2 cents to ($0.82) following better than expected Q3 results. Question whether company can reach target of 6.3 million subs by year end. Maintained Sell rating and $3.75 target.

Watson Wyatt (WW) downgraded at Deutsche: WW was downgraded to Hold, Deutsche Bank said. Valuation call, based on the $49 price target. Company posted its best revenue growth in five years, added by a positive foreign exchange benefit.

STOCK COMMENTS / EPS CHANGES

Advanced Micro Devices (AMD) target price lowered at UBS: UBS said it is lowering its target price on AMD to $23 from $26. Cites margin and cash flow risks persist. Maintained Neutral rating.

Adams Respiratory (ARXT) estimates upped at Morgan Stanley: ARXT estimates raised for 2007 and 2008, Morgan Stanley said. Company will double its existing over-the-counter portfolio by 2008, and may also have a prescription product on the market by then as well. Overweight rating and $55 price target.

BMC Software (DMC) estimates raised at Piper: Piper said it is raising its 2007 estimates on BMC to $1.47 a share following solid Q2 numbers. Maintained Outperform rating.

Cablevision (CVC) estimates lowered at Morgan Stanley: CVC estimates cut through 2008, Morgan Stanley said. Company is beginning to reach saturation levels for its new products, like digital cable and VoIP.

Cablevision (CVC) price target increased at Jefferies: Jefferies said it is upping its target on CVC to $32.17 from $26 after company reported excellent Q3 results. Believe $27 bid too low for company. Reiterated Buy rating.

DirecTV (DTV) estimates raised at Morgan Stanley: DTV estimates boosted through 2008, Morgan Stanley said. Company added more customers than expected during the quarter, with 25% of them coming through the RBOC channel. $22 price target.