Tuesday's Analysts' Upgrades and Downgrades

Credit Suisse said it is upgrading Freeport-McMoRan (FCX Quote) to Outperform from Neutral based on higher copper prices in near-term and valuation. Raised target price to $70 from $50.

General Electric (GE Quote) was upgraded to buy from neutral at UBS. Price target lifts to $45 from $40 and 2007 EPS estimates hold at $2.20.

Methanex (MEOH Quote) was upgraded to Neutral rating from Reduce at UBS. Price target bumps to $26.50 from $26 and 2007 EPS estimate holds at $3.51.

NYSE Group (NYX Quote) was downgraded from Neutral to Underweight, JP Morgan said. Float will increase materially in the next month, as recent listed volume has been softer than expected.

Credit Suisse said it is downgrading Patterson-UTI Energy (PTEN Quote) to Underperform from Neutral based on reduced earnings power from share losses and industry capacity additions. Lowered target price to $22 from $31.

Morgan Stanley upgrades R.H. Donnelley(RHD Quote) from equalweight to overweight, and removes its $61 price target.

Stock Comments/EPS Changes

Gulfmark Offshore (GMRK Quote) numbers raised at Jefferies. Price target lifts to $46 from $41 and 2007 EPS estimates rise to $4.22 from $3.98. Reiterates Buy rating.

Goldman said it is upping its 2007 estimates on Merck (MRK Quote) to $2.61 from $2.58 , based on higher expectations for Januvia earnings in wake of less competition this year. Price target increased to $43 from $39 but maintained Sell rating.