Analysts' Upgrades and Downgrades

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Analysts' Upgrades, Downgrades: Hartford

TSC Staff

CHANGE IN RATINGS

Yamana Gold (AUY) downgraded at Credit Suisse to Neutral from Outperform based on valuation. Says company is best candidate for a takeover but not willing to recommend it as an Outperform solely on that basis. Lowered target price to $6.50 from $12.

Goodrich Petroleum (GDP) downgraded at Jefferies from Buy to Hold. $29 price target. Valuation call, as the stock has bounced 40% since mid-October.

Molina Healthcare (MOH) downgraded at Credit Suisse to Underperform from Neutral. Says consensus estimates are too high and do not reflect likely margin pressure next year. Lowered target price to $13 from $25.

Telemig Celular (TMB) upgraded at Credit Suisse to Outperform from Neutral based on valuation and stabilizing market share. Maintained $52 target price.

STOCK COMMENTS / EPS CHANGES

Alpha Natural (ANR) numbers cut at Morgan Stanley. Shares now seen reaching $32. Estimates also lowered, to reflect the company's new guidance and a poor pricing outlook. Overweight rating.

Hartford Financial (HIG) numbers raised at Morgan Stanley. Shares now seen reaching $21. Estimates also raised to reflect the company's strong capital position, reducing the likelihood of a capital raise. Overweight rating.

Paychex (PAYX) numbers cut at Barclays. Shares now seen reaching $31. Estimates also lowered, as management will likely cut 2009 earnings guidance at the upcoming earnings report. Float income likely to be hurt by falling interest rates. Equal-weight rating.