Wednesday's Analysts' Upgrades and Downgrades

Stock Comments/EPS Changes

2006 estimates on CBS(CBS Quote) raised at Goldman to $1.74 from $1.63 after company reported better-than-expected earnings due to items below EBIT. See few financial levers going forward, with an already high payout ratio and fewer asset divestitures left. Maintained Sell rating and $28 target.

JPMorgan said Dover(DOV Quote) was removed from the Focus List because of a predetermined time limit. Stock failed to reach the $58 price target but did outperform the S&P by 6 percentage points. Overweight rating.

Goldman said it is upping its target on Federated Department Stores(FD Quote) to $52 from $45, based on belief that market has yet to appreciate company's tremendous cash flow, real estate and balance sheet flexibility. Maintained Buy rating.

FD numbers raised at UBS. Price target lifts to $55 from $52, and 2008 EPS estimates rise to $3.00 from $2.90. Reiterates Buy rating.

Credit Suisse said it is raising its target price on Leap Wireless(LEAP Quote) to $76 from $73 after company reported better-than-expected subscriber growth. Maintained Outperform rating.

LEAP price target raised to $76 from $70 at Jefferies, while 2007 EPS estimates lowered to $0.17 from $0.24. Reiterates Buy rating.

Goldman said it is cutting its target on Shuffle Master(SHFL Quote) to $25 from $31 based on lower earnings expectations going forward. Company cited lower revenues and higher costs at Stargames, higher interest expense and slower-than-expected rollout of multiplayer electronic game tables as reasons for lower first-quarter expectations. 2007 estimates cut to $0.65 from $0.87. Maintained Neutral rating.