CHANGE IN RATINGS
upgraded at BofA: AAPL was upgraded from Neutral to Buy, Bank of America said. $79 price target. Expect higher unit sales of iPods and MacBooks. Positive channel checks bode well for the next two quarters.
downgraded at Credit Suisse: Credit Suisse said it is downgrading AYE to Neutral from Outperform based on valuation. Continues to see upside but would not commit new capital. Raised target price to $45 from $41.
downgraded at Morgan Stanley: Morgan Stanley said it is lowering its rating on CENX to Underweight from Overweight on Alumina supply outlook.
upgraded at Keybanc: CRS was upgraded from Hold to Buy, Keybanc said. $115 price target. Selloff is overdone, and unit growth, free cash flow and order backlog remains strong.
downgraded at BB&T Capital Markets: BB&T said it is downgrading EXP to Hold from Buy due to declining new home sales, future deceleration in EPS growth rate, and muted investor reaction to company's stellar results.
upgraded at Merrill: Merrill upgraded IDXX to Neutral from Sell after the company posted better than expected second quarter sales. 2006 estimates were raised to $2.70 from $2.48.
upgraded at Citigroup: LEA was upgraded from Sell to Hold, Citigroup said. $23 price target. Stock has dropped 19% on the year, and is already pricing in higher materials costs.
target price raised at Prudential: Prudential said it is raising its target price on LEA to $20. Maintained Underweight rating.
downgraded at Credit Suisse: Credit Suisse said it is downgrading LEA to Neutral from Outperform based on weaker 2H outlook. Reduced target price to $24 from $28.
downgraded at Merrill Lynch: Merrill said it is downgrading MAN to Neutral due to lower estimates and increasing risk. See uncertain degree of macroeconomic slowdown weighing on shares. 2006 estimates cut 2 cents to $3.54.