Wednesday's Analysts' Upgrades and Downgrades

CHANGE IN RATINGS

First Solar (FSLR Quote) initiated at Morgan Stanley: Morgan Stanley initiates coverage of First Solar with an equalweight rating and a $28 price target.

First Solar (FSLR Quote) rated new Outperform at Credit Suisse: Credit Suisse is initiating FSLR with an Outperform rating. Cites results will be driven by management's plans to add capacity, reduce costs and margin expansion. Sets $32 target price.

Hertz (HTZ Quote) initiated at Morgan Stanley: Morgan Stanley initiates coverage of Hertz with an equalweight rating and a $17.50 price target.

STOCK COMMENTS / EPS CHANGES

Ann Taylor (ANN Quote) estimates, target cut at Piper: ANN estimates cut through fiscal 2009 at Piper Jaffray. Promotional activity has been up year-over-year each week during the holiday season. Loft concept remains in transition. Market Perform rating, and a new $38 price target.

Rockwell Collins (COL Quote) numbers raised at UBS: COL numbers raised at UBS. Price targets jumps to $73 from $67. Reiterates Buy rating.

Guess (GES Quote) estimates, target boosted at Piper GES estimates raised because of higher expected December sales at Piper Jaffray. Pricing has been strong, led by accessories and footwear. Outperform rating and new $72 price target.

Raytheon (RTN Quote) estimates lowered at UBS: RTN estimates lowered at UBS. 2007 EPS estimates drop to $2.90 from $3.10. Reiterates Hold rating.