Tuesday's Analysts' Upgrades and Downgrades

Syntel (SYNT Quote) numbers raised at Jefferies: SYNT numbers raised at Jefferies. 2006 EPS estimates increased to $1.18 from $1.17. 2007 EPS estimates raised to $1.38 from $1.35. Introduced 2008 EPS estimates of $1.61. Price target raised to $39 from $30. Reiterates Buy rating.

Target (TGT Quote) numbers raised at UBS: TGT numbers raised at UBS. 2008 EPS estimates raised to $3.66 from $3.63. Price target raised to $78 from $70. Reiterates Buy rating.

Time Warner (TWX Quote) price target upped at Goldman: Target on TWX increased to $25 from $21 at Goldman. Legal restrictions prevent Goldman from discussing segments outside of AOL. Maintained Neutral rating.

USG Corp (USG Quote) estimates lowered by Jefferies: USG estimates lowered by Jefferies. 2007 EPS estimates lowered to $4.29 from $4.96. 2008 EPS estimates lowered to $4.55 from $5.21. Reiterates Buy rating and $65 price target.

Viacom (VIAb Quote) numbers raised at UBS: VIAb numbers raised at UBS. 2006 EPS estimates raised to $2.01 from $2.00. 2007 EPS estimates raised to $2.28 from $2.21. Price target raised to $43 from $41. Reiterates Neutral rating.

Valero L.P. (VLI Quote) price target upped at Goldman: VLI target increased to $58 from $56 at Goldman. Q4 results showed recurring earnings below consensus estimates but ahead of Goldman expectations. See shares fully valued. Maintained Neutral rating.