Thursday's Analysts' Upgrades and Downgrades

CHANGE IN RATINGS

Abbott Laboratories (ABT Quote) downgraded at Wachovia to Market Perform. Estimates also cut, as the company is facing several challenges at its key franchises.

Broadcom(BRCM Quote) initiated at UBS with Buy rating. Price target starts at $47 and FY 2008 EPS estimates set at $0.47.

BRE Properties (BRE Quote) upgraded at Credit Suisse to Outperform from Neutral. Cites high portfolio quality at discounted valuation. Raised target price to $65 from $50.

Celestica (CLS Quote) upgraded at JP Morgan from Underweight to Neutral, JP Morgan said. Valuation call, as the stock is trading near tangible book value. Downside appears limited from current levels.

FirstFed Financial (FED Quote) downgraded at Friedman, Billings, Ramsey from Outperform to Market Perform. $50 price target. Credit costs will likely continue to rise. Share buybacks have yet to support the stock.

Marvell Technology (MRVL Quote) initiated with Neutral rating at UBS. Price target starts at $18 and FY 2009 EPS estimates set at $0.27.

Nuance Comm. (NUAN Quote) downgraded at Citigroup from Buy to Hold. Valuation call, as the stock is up 92% year-to-date. Fundamentals remain healthy.

Sandisk (SNDK Quote) downgraded at Oppenheimer to Neutral. Advantages that the company has enjoyed will likely begin to unwind, heading into 2008.

TTM Technologies (TTMI Quote) downgraded at JP Morgan from Overweight to Neutral. Decline in the core business will not improve enough to move the stock higher in the near term. Estimates also cut.