Wednesday's Analysts' Upgrades and Downgrades

CHANGE IN RATINGS

Assured Guaranty (AGO Quote) upgraded at JP Morgan from Underweight to Neutral. Company is better insulated to CDO and RMBS losses than its peers. Estimates also raised.

Allstate (ALL Quote) upgraded at Citigroup from Hold to Buy. Stock has pulled back to a level where downside potential is limited, and book value growth should help drive the price higher.

Christopher & Banks (CBK Quote) upgraded at Suntrust from Neutral to Buy. Company is on track to reach near-term goals, and comps improve into 2008. Balance sheet is also pristine, and there's a sizable short position in the stock.

Capital One Financial (COF Quote) downgraded at KBW to Market Perform. Investor conference suggested higher potential credit losses.

Danaher (DHR Quote) upgraded at Bear to Outperform. $95 price target. Stock has performed well, but still underperformed its peers. Recent equity financing also gives the company added financial flexibility.

Expeditors International (EXPD Quote) downgraded at Baird from Outperform to Neutral. $55 price target. Valuation call, though the favorable long-term outlook remains.

Sun Microsystems (JAVA Quote) upgraded at Bernstein from Underperform to Market Perform. Valuation call, as margins should improve over the coming quarters. $5 price target.

Mediacom (MCCC Quote) upgraded at Citigroup from Hold to Buy. Stock looks oversold on its sharp pullback. Valuation is attractive, and the company still generates solid free cash flow.

Marshall & Ilsley (MI Quote) upgraded at JP Morgan from Underweight to Neutral. New analyst believes that slower growth at Metavante will no longer drag on the stock.