Monday's Analysts' Upgrades and Downgrades

CHANGE IN RATINGS

Amgen (AMGN Quote) downgraded at Merrill from Buy to Neutral. ODAC will hold another advisory panel meeting, which will continue to hang over the stock.

Amgen downgraded at Bernstein to Market Perform. $60 price target. Company's earnings and multiple will remain under risk in the first half of 2008, and negative newsflow hangs over the stock.

Dominion Resources (D Quote) downgraded at Credit Suisse to Neutral from Outperform. Cites stock has recovered bulk of valuation gap since October. Maintained $49 target price.

Dyncorp (DCP Quote) upgraded at Wachovia to Outperform. Estimates also raised, to reflect the win of the linguist contract. Also expect the company to win its other LOGCAP contested contract.

Dyncorp upgraded at Jefferies to Buy rating from Hold. Price target lifts to $29 from $23 and FY eps estimates upped to $1.07 from $1.05.

Emerson Electric (EMR Quote) downgraded at Deutsche Bank to a Hold rating as stock is up 32% YTD and valuation is now stretched.

Advanced Medical Optics (EYE Quote) upgraded at Morgan Stanley from underweight to equalweight and moves price target to $25.

Foot Locker (FL Quote) upgraded at Merrill to Buy. $17 price target. Sales trends have likely hit a bottom, and declining square footage should help buoy same-store sales.

Forward Air (FWRD Quote) downgraded at Bear to Underperform. Stock is up 18% over the past 6 weeks, and is already pricing in the closing of a top competitor. $28 price target.