Friday's Analysts' Upgrades and Downgrades

Teekay(TK Quote) was downgraded from Outperform to Peer Perform, Bear Stearns said. Estimates also cut through 2008, to reflect higher tanker supply rates.

Tekelec(TKLC Quote) was downgraded from Buy to Neutral, Oppenheimer said. Estimates also cut, as the company gave disappointing forward guidance.

Stock Comments/EPS Changes

BEA Systems(BEAS Quote) numbers lowered at Jefferies. Price target lowered to $15 from $17. 2008 EPS estimates lowered to $0.59 from $0.65. Reiterates Buy rating.

Endo Pharma(ENDP Quote) numbers raised at Jefferies. Price target raised to $38 from $35. 2008 EPS estimates raised to $2.14 from $2.00. Reiterates Buy rating.

ENSCO International(ESV Quote) estimates raised, price target lowered at Jefferies. Price target lowered to $61 from $67. 2007 EPS estimates increased to $7.25 from $6.98. 2008 EPS estimates raised to $8.68 from $8.44. Reiterates Buy rating.

Health Management(HMA Quote) numbers raised at Jefferies. Price target raised to $22.50 from $20.00. 2007 EPS estimates raised to $0.76 from $0.75. Reiterates Hold rating.

Goldman said it is raising its 2007 estimates on HMA to $0.79 from $0.69, based on increased company guidance. See emphasis on revenue cycle enhancement, volume growth, physician practice management and cost discipline as key drivers in 2007. Price target raised to $10 from $9.50 and maintained Neutral rating.

Target on J.C. Penney(JCP Quote) increased to $90 from $86, Goldman said. Fourth-quarter results beat consensus estimates as lower taxes and interest expense drove upside. 2007 estimates upped to $5.44 from $5.30. Maintained Neutral rating.