Analysts' Upgrades and Downgrades

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Wednesday's Analysts' Upgrades, Downgrades

TheStreet.com Ratings Staff

Change in Ratings

Aflac(AFL - Cramer's Take - Stockpickr) downgraded at UBS to neutral rating from buy. However, price target lifts to $73 from $72 and 2008 EPS estimates rise to $4.67 from $4.53.

Crocs(CROX - Cramer's Take - Stockpickr) downgraded at JPMorgan from overweight to neutral, JPMorgan said. There's risk to first-quarter guidance, because of weak U.S. sales.

Dick's Sporting Goods(DKS - Cramer's Take - Stockpickr) downgraded at UBS to neutral rating from buy. Price target cut to $29 from $35 while fiscal year 2009 EPS estimates hold at $1.45.

Expeditors(EXPD - Cramer's Take - Stockpickr) downgraded at UBS to neutral rating from buy. Price target and fiscal year 2008 EPS estimates hold at $48 and $1.41, respectively.

Forest Oil(FST - Cramer's Take - Stockpickr) upgraded at Jefferies to buy rating from hold. Price target jumps to $63 from $50 while 2008 EPS estimates dip to $2.60 from $2.66.

Philip Morris(PM - Cramer's Take - Stockpickr) coverage initiated at Goldman Sachs with a buy rating based on healthy top-line growth, margin improvement driven by cost savings and balance sheet strength. Believe premium valuation to tobacco peers is warranted. Price target at $60.

State Street(STT - Cramer's Take - Stockpickr) downgraded at KBW from outperform to market perform. Company facing difficult comparisons in the second half of the year. $90 price target.

UST(UST - Cramer's Take - Stockpickr) downgraded at Goldman Sachs to neutral from buy based on limited upside relative to tobacco peers (Altria(MO - Cramer's Take - Stockpickr) and Philip Morris). Remain constructive on stock as premium brand trends remain strong and company steps up share repurchases. Price target at $62.