Tuesday's Analysts' Upgrades and Downgrades

CHANGE IN RATINGS

Avaya (AV Quote) coverage initiated at Jefferies: Jefferies is initiating coverage on AV with a Hold rating. See risks associated with gradual shift from TDM-phone systems to IP-systems. Look for better entry point after recent run-up in share price. Price target at $12.50.

Barr Pharma (BRL Quote) upgraded at Goldman Sachs: Goldman is upgrading BRL to Buy from Outperform due to upcoming drug launch catalysts, improved visibility on PLIVA transaction, and compelling valuation. Price target at $71.

Career Education (CECO Quote) upgraded at UBS: UBS is upgrading CECO to Neutral from Reduce based on recent departure of CEO. Believes management change is positive but still sees downside earnings risk. Raised target price to $22 from $18.

Comcast (CMCSA Quote) downgraded at AG Edwards: CMCSA was downgraded to Hold at AG Edwards. Valuation call, as the stock is up 41% year-to-date and approaching fair value of $37.

Cisco (CSCO Quote) coverage initiated at Jefferies: Jefferies is initiating coverage of CSCO with a Buy rating. Expect accelerating revenue growth due to market share gains, penetration of under-networked segments, and increased service provider spending on upgrades. Price target at $30.

EGL (EAGL Quote) upgraded at Baird: EAGL was upgraded to Outperform at Robert Baird. $44 price target. Valuation is attractive, and confidence is increasing that revenue growth could re-accelerate in the near term.