Analysts' Upgrades and Downgrades

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Monday's Analysts' Upgrades, Downgrades

TheStreet.com Ratings Staff

Change in Ratings

American CapitalACAS downgraded at UBS to sell rating from neutral. Price target cut to $28 from $34 and fiscal year 2008 EPS estimates lowered to $3.26 from $3.37.

Caci InternationalCAI upgraded to buy from hold at Jefferies. Price target upped to $65 from $47 and fiscal year 2008 EPS estimates jump to 46 cents from 31 cents.

Mack-CaliCLI downgraded at UBS to sell rating from neutral and price target cut to $36 from $38.

ComericaCMA upgraded at Deutsche Bank to buy from hold. Price target raised to $52 from $36. 2008 EPS estimates lowered to $2.70 from $3.05.

DieboldDBD upgraded at KeyBanc to buy rating from hold. Price target holds at $47 while fiscal year 2008 EPS estimates increased to $2.13 from $1.85.

Ingersoll-RandIR downgraded at Morgan Stanley to underweight from equal-weight. 2008 EPS estimates raised to $2.93 from $2.88. Price target removed.

MicrosoftMSFT coverage reinstated at Goldman with a buy rating. View company as a defensive investment in current environment, with decision to walk away from Yahoo!YHOO deal showing management's price discipline. See gaming results and Windows Server 2008 driving top-line growth in next few quarters. Price target at $38.

USTUST upgraded at Deutsche Bank to buy from hold based on valuation following recent selloff. See shares undervalued relative to improved profit growth and competitive position. Although consumer weakness remains a risk, see continued steady cash flow and 2% growth in smokeless volume. Target at $58.

Yahoo! coverage reinstated at Goldman Sachs with a neutral rating, following its rejection of the Microsoft's $33/share bid. Note that company reported slightly better than forecast first-quarter earnings since Microsoft's bid became a major focus. Price target at $26.

Stock Comments/EPS Changes

CiscoCSCO target price higher at Credit Suisse to $30 from $27 based on 18 times multiple to 2009 estimates. See CSCO among best relative tech stocks based on limited downside risk and significant upside potential based on widespread convergence onto IP infrastructure. Maintained outperform rating.

ChevronCVX price target raised at Credit Suisse to $100 from $98 based on higher WTI Crude Oil price estimate. Each $10 change adds approximately 30 cents per share in quarterly earnings. Maintained neutral rating.