Tuesday's Analysts' Upgrades and Downgrades

Valspar (VAL Quote) was upgraded at Deutsche Bank from Hold to Buy. $34 price target. Further consolidation in the business should help the company, which would be a key target for Akzo or PPG.

STOCK COMMENTS / EPS CHANGES

Coach (COH Quote) price target raised at UBS. New price objective rises to $58 from $54, while 2007 EPS estimates hold at $1.72. Reiterates Buy rating.

CVS (CVS Quote) price target raised at Goldman to $43 from $39.19 based on upcoming closing of Caremark merger. See shares moving higher on abatement of technical short selling, launch of $5.3 billion tender offer, the end of Express Scripts' negative commentary on vertical integrations, and increased recognition of 2008 earnings potential. Maintained Buy rating.

Credit Suisse is lowering its 2007 EPS estimates on PeopleSupport (PSPT Quote) to 47 cents from 64 cents following loss of Vonage contract. Lowered target price to $14 from $23.