Monday's Analysts' Upgrades and Downgrades

L-3 Communications (LLL Quote) downgraded at Credit Suisse: Credit Suisse downgrades L-3 Communications from outperform to neutral after the company lost a large contract from the Army.

Murphy Oil (MUR Quote) downgraded at Credit Suisse: Credit Suisse downgrades Murphy Oil shares to underperform from neutral.

Robert Half (RHI Quote) downgraded at Merrill: RHI was downgraded from Buy to Neutral at Merrill Lynch. Stock is up 20% over the past three months, and is already valued at 20.3 times expected 2007 earnings.

Schlumberger (SLB Quote) downgraded at Goldman Sachs: Goldman is downgrading SLB to Neutral from Buy based on relative valuation. Downgrade is in conjunction with Baker Hughes upgrade, as valuation gap is at historic levels. Maintain view that SLB is best company in coverage universe, but do not see room for multiple expansion and advise investors to switch out of SLB and into BHI. Target price at $80.

Sealy (ZZ Quote) downgraded at JP Morgan: ZZ was downgraded from Overweight to Neutral at JP Morgan. Expect below-consensus earnings through 2007. Soft mattress sales continue to drive promotional pricing.

STOCK COMMENTS / EPS CHANGES

Accenture (ACN Quote) estimates raised at Goldman: Goldman is upping its 2007 estimates on ACN by two cents to $1.83 due to positive demand in IT services. See further share gains driven by sustained revenue growth, margin improvements, strong free cash flow and share buybacks. Target price at $41.25.