Analysts' Upgrades and Downgrades

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Analysts' Upgrades, Downgrades: Deere

TSC Staff

Change in Ratings

UBS said it is upgrading Banco Santander (STD Quote) to neutral from sell based on valuation. Believe current levels fully reflect macroeconomic challenges. Estimate core tier 1 will be 7.1% at year-end, based on capital raising and recent acquisitions.

UBS said it is upgrading Tenet Healthcare (THC Quote) to neutral from sell based on valuation. See lack of near-term downside catalysts and note that shares are trading around 15% of enterprise value. 2009 outlook is heavily dependent on uninsured/bad debt and healthcare reform. Price target cut to $1.40 from $2.00.

Stock Comments/EPS Changes

Goldman said it is lowering its target on Deere (DE Quote) to $41 from $46 based on disappointing fourth-quarter results. Expect increasing foreign exchange headwinds and lower earnings as farmers scale back capital expenditures. Maintained neutral rating.