Tuesday's Analysts' Upgrades and Downgrades

Cablevision (CVC Quote) estimates increased at Jefferies: Jefferies is increasing its 2006 estimates for CVC to ($0.33) from ($0.82) after company filed full Q2 documentation and re-stated previous results, adjusting for stock option inconsistencies. Reiterated Buy rating and $26 target.

eBay (EBAY Quote) price target cut at Goldman Sachs: Goldman is cutting its target on EBAY to $35 from $54 based on 1.3x PEG model input. Recommend buying shares given accelerating growth in GMV and revenue. Reiterated Buy rating.

Advanced Medical Optics (EYE Quote) target lowered at Goldman: Price target on EYE decreased to $46 from $52 at Goldman. Company reduced 2006 and 2007 guidance due to softer revenue expectations. Maintained Neutral rating.

PMC-Sierra (PMCS Quote) estimates cut at UBS: UBS is lowering its 2006 EPS estimates on PMCS to 22 cents from 30 cents after company reduced guidance. Lowered target price to $11 from $16.

PMC-Sierra (PMCS Quote) numbers cut at Morgan Stanley: Morgan Stanley is cutting PMC-Sierra's estimates of 2006-2007 to reflect the company's recently lowered revenue guidance.