Monday's Analysts' Upgrades and Downgrades

TSC Staff

CHANGE IN RATINGS

AnnTaylor (ANN Quote) was upgraded from Underperform to Market Perform at Piper Jaffray. $36 price target. Company offer higher fiscal 2008 guidance, aided by its share repurchase program. LOFT sales also recovering.

BEA Systems (BEAS Quote) upgraded to Buy rating from Neutral at UBS. Price target and 2007 EPS estimates hold at $14 and $0.40, respectively.

Cognos (COGN Quote) upgraded at Morgan Stanley from equalweight to overweight, raises price target to $50 and raises 2007-08 EPS estimates.

Freeport-McMoran (FCX Quote) upgraded at Bear from Peer Perform to Outperform. $80 price target. Company has a diverse asset base, and estimates through 2008 are being raised to reflect higher copper prices.

Goodyear Tire (GT Quote) upgraded at Keybanc from Hold to Buy. $39 price target. Stock is up 35% since the new labor contract was struck, though earnings fundamentals could continue to improve in the tire business.

H&R Block (HRB Quote) upgraded by Thomas Weisel. Rating changed to Overweight from Market Weight. 2007 EPS estimates maintained at $1.19.

Kraft (KFT Quote) upgraded at Prudential from underweight to neutral with a $32 price target.

OMI (OMM Quote) downgraded at Jefferies to Hold rating from Buy. Price target and 2007 EPS estimates hold at $21 and $2.21, respectively.

Sepracor (SEPR Quote) downgraded at FBR to Underperform rating from Market perform. 2007 EPS estimates lowered to $2.22 from $2.30, but price target holds at $43.

SiRF Technology Holdings (SIRF Quote) upgraded by Oppenheimer. Rating changed to Buy from Neutral. Price target is $34. 2007 EPS estimates maintained at $1.10.

Walgreen (WAG Quote) upgraded at JP Morgan from Neutral to Overweight. Company had best risk/return potential in the group, as its competitors focus on acquisitions.

STOCK COMMENTS / EPS CHANGES

CVS (CVS Quote) target price raised at Credit Suisse to $44 from $39. Believes company will exceed consensus expectations over next 12-18 months. Maintained Outprform rating.

Credit Suisse is raising its 2007 EPS estimates on Express Scripts (ESRX Quote) to $4.23 from $3.96. Sees above average growth due to favorable genetic trends. Raised target price to $95.

---