Monday's Analysts' Upgrades and Downgrades

CHANGE IN RATINGS

Andrew Corp. rated new Neutral at Credit Suisse: Credit Suisse said it is reinstating coverage on ANDW with a Neutral rating. Cites attractive valuation but limited catalysts. Raised target price to $13 from $11

Allegheny downgraded at Prudential: Prudential said it is downgrading ATI to a Neutral Weight rating after Thyssenkrupp announced it would build a stainless stab producing plant, as well as aerospace concerns.

Ford Motor upgraded at Bear: Rating on F was boosted from Underperform to Outperform, Bear Stearns said. Most of the potential good news is ahead of the company, and the stock should be able to outperform GM over the coming quarters.

General Motors downgraded at Bear: GM was downgraded from Peer Perform to Underperform, Bear Stearns said. Reversing the April upgrade, as a lot of good news already appears to be priced into the stock.

Neustar upgraded at Morgan Stanley: Morgan Stanley said it is raising its rating on NSR to Overweight from Equalweight. Target is $37 a share. See no basis for sell-off post strong Q2 numbers.

Penn Gaming coverage initiated at Goldman Sachs: Goldman said it is initiating coverage on PENN with a Neutral rating. See diverse asset base fairly valued in light of potential volatility due to state regulatory forces.

Polaris coverage initiated at Goldman Sachs: Goldman initiated coverage on PII with a Neutral rating. See challenging conditions due to high inventories in snowmobiles and ATVs. Shares have declined 49% from March 2005 peak, leaving stock fairly valued.