Wednesday's Analysts' Upgrades and Downgrades

STX numbers lowered at UBS. Price target drops to $23 from $26, and 2007 EPS estimate lowered to $1.40 from $1.66. Reiterates Neutral rating.

Credit Suisse said it is lowering its 2007 EPS estimates on STX to $1.90 from $2.29 following difficult third-quarter results, which included weaker gross margins. Lowered target price to $28 from $35.

Goldman is cutting its target on Yahoo!(YHOO Quote) to $34 from $35 after company reported disappointing top-line growth on decelerating branded advertising. Year-over-year revenue growth of 9% was significantly below hopes for midteens results. Maintained Neutral rating on belief that risk/reward remains unfavorable.

YHOO numbers lowered at Jefferies. Price target drops to $36 from $38, and 2007 EPS estimate lowered to $0.51 from $0.55. Reiterates Buy rating.