Monday's Analysts' Upgrades and Downgrades

CHANGE IN RATINGS

American Eagle (AEOS Quote) downgraded at AG Edwards: AEOS was downgraded from Buy to Hold at AG Edwards. Company is trading well in excess of its historical average valuation.

Cincinnati Bell (CBB Quote) downgraded at JP Morgan: CBB was downgraded from Overweight to Neutral at JP Morgan. Company will likely boost CapEx spending in 2007, which could delay the debt pay-down strategy.

Computer Sciences (CSC Quote) upgraded at Prudential: Prudential is upgrading CSC to an Overweight rating as bookings are up, margins are rising, and company is buying back stock aggressively.

General Electric (GE Quote) downgraded at Merrill: GE was downgraded from Buy to Neutral at Merrill Lynch. $36 price target. Stock is trading at a premium to the S&P 500. Earnings growth is also facing potential headwinds from the lower tax rate and recent one-time gains.

Int'l Flavors & Fragrances (IFF Quote) downgraded at JP Morgan: IFF was downgraded from Overweight to Neutral at JP Morgan. Shares appear fully valued, until more details are learned about the restructuring program. Maintaining estimates.

News Corp (NWS Quote) upgraded at Goldman: Goldman is upgrading NWS to Buy from Neutral based on a number of non-advertising catalysts including higher fees at Fox and the spin-off of DTV. Raised target price to $25 from $21.

Oshkosh Truck (OSK Quote) downgraded at Baird: OSK was downgraded from Outperform to Neutral, Robert Baird said. $65 price target. JLG acquisition makes financial sense, but represents a significant strategy shift.

UnitedHealth Group (UNH Quote) downgraded at Goldman: Goldman is downgrading UNH to Sell from Neutral. Expects shares to fall further now that CEO has stepped down. Lowered target price to $42 from $44.

Viacom (VIA Quote) downgraded at Goldman: Goldman is downgrading VIA to Neutral from Buy based on valuation. Stock has only 8% upside to revised target price of $42.

Vishay (VSH Quote) downgraded at Weisel: VSH was downgraded from Outperform to Peer Perform at Thomas Weisel. Estimates also cut, as pricing and growth deteriorates.