Monday's Analysts' Upgrades and Downgrades

Mylan Labs (MYL Quote) estimates cut at Goldman: 2008 estimates on MYL lowered 9 cents to $1.46 at Goldman. See weaker earnings trend for recently acquired Matrix. Also noted decreased visibility due to absence of financial detail from management. Maintained Neutral rating and lowered target to $24 from $25.

Nike (NKE Quote) target price raised at Credit Suisse: Credit Suisse is raising its target price on NKE to $125 from $110 following positive investor meeting. Maintained Outperform rating.

Red Hat (RHT Quote) target raised at UBS: RHT price target raised at UBS. Price target jumps to $25 from $19. Reiterates Neutral rating.

Sirius Satellite (SIRI Quote) price target lowered at Goldman: Goldman is cutting its target on SIRI to $2.75 from $3.50 based on lower likelihood of merger with XMSR. Believe both equity valuations factor in some synergies of potential merger.

Warner Music (WMG Quote) price target cut at Goldman: Goldman is reducing its target on WMG to $23 from $25 based on declining digital revenue results. Expect EBITDA to decline 4% in fiscal 2007. Maintained Neutral rating.

XM Satellite (XMSR Quote) price target raised at Goldman: Goldman is raising its target on XMSR to $15 from $11 based on decreased likelihood of merger with SIRI. Target shifted in conjunction with lowered target on SIRI. Believe both equity valuations factor in some synergies of potential merger.