Monday's Analysts' Upgrades and Downgrades

ConEd (ED Quote) price target increased at Goldman: Goldman is raising its target on ED to $44 from $38 based on rate base growth. Reiterated Sell rating, however, due to negative bias toward future rate cases in New York. See rate case risk and lower allowed returns weighing on expected levels of earnings growth.

ITT (ITT Quote) estimates lowered at Goldman: 2006 estimates on ITT cut to $2.81 from $2.92 at Goldman. Company's 2007 outlook conference call provided lower-than-expected revenue guidance. Maintained Neutral rating and $59 price target.

Illinois Tool Works (ITW Quote) estimates cut at Goldman: Goldman is reducing its 2006 estimates on ITW to $2.96 from $3.01 after company lowered guidance due to persistent weakness in new housing. Maintained Buy rating and $55 target.

MGM Mirage (MGM Quote) numbers raised at Jefferies: MGM numbers raised at Jefferies. Price target jumps to $71.00 from $54.00, but lowers 2007 EPS estimates a penny to $2.67. Reiterates Buy rating.

Nike (NKE Quote) price target increased at Goldman: Target on NKE raised to $112 from $104 at Goldman. See potential for upside Q2 earnings surprise due to reduced effect from pressure on gross margins and Air Max marketing expenses. Maintained Buy rating.

SunTrust Banks (STI Quote) target raised at UBS: STI price target raised at UBS. Price target lifts to $96 from $88. Maintains current EPS estimates. Reiterates Buy rating.