Friday's Analysts' Upgrades and Downgrades

CHANGE IN RATINGS

AerCap (AER Quote) upgraded at Goldman Sachs to Buy from Neutral due to better growth opportunities and more reliable earnings than peers. See superior returns driven by larger scale. Price target at $33.

Commercial Metals (CMC Quote) upgraded at Citigroup from Hold to Buy. $40 price target. Expect the steel market to recover, and the stock looks attractive following a 20% sell-off.

Cooper Companies (COO Quote) upgraded at Citigroup from Hold to Buy. Earnings were lower last quarter because of a higher tax rate, but sales growth trends remain strong. Core products are also taking market share, and earnings upside now seems possible. $60 price target.

Cooper Companies numbers lowered at Jefferies. Price target dips to $46 from $48 and 2008 EPS estimates drop to $2.80 from $2.85. Reiterates Hold rating.

Federated Investors (FII Quote) upgraded at JP Morgan to Neutral. Commercial paper market concerns are overblown for high-quality managers like Federated.

Fifth Third (FITB Quote) upgraded at Bernstein from Underperform to Market Perform. $36 price target. Potential downside appears limited from current levels, despite continued credit concerns.

Ingersoll Rand (IR Quote) initiated at Morgan Stanley with an equalweight rating and $58 price target.

Kforce (KFRC Quote) downgraded to Neutral from Buy at Suntrust Robinson Humphrey. Earnings could fall below consensus estimates, as the finance and accounting staffing markets should slow down.