Thursday's Analysts' Upgrades and Downgrades

CHANGE IN RATINGS

Alberto-Culver(ACV Quote) upgraded at Citigroup from hold to buy with a $28 price target. Citigroup said the company can deliver organic growth even in a weak U.S. economy. Estimates were also raised, as cost-cutting should help drive earnings growth.

Boston Scientific(BSX Quote) upgraded at Morgan Stanley from equal-weight to overweight with a $15 price target. Morgan Stanley said the market is already pricing in lower earnings, and cost-cutting should ultimately help margins.

eBay(EBAY Quote) upgraded at Bear to outperform with a $36 price target. The stock is pricing in too much fear, and competitive concerns have been overblown, according to Bear.

Callaway Golf(ELY Quote) upgraded at Wachovia to outperform. Wachovia said the company is seeing clean retail sell-through, and should also gain market share in 2008 with its new driver.

Harley-Davidson(HOG Quote) downgraded at Citigroup from hold to sell with a $36 price target. Citigroup expects sluggish fourth-quarter retail sales from HOG, and channel checks show continued deterioration. Estimates were also cut for 2008 and 2009.

JPMorgan(JPM Quote) downgraded at Oppenheimer from outperform to perform. Estimates were also cut, as credit losses are accelerating faster than expected.

Microstrategy(MSTR Quote) downgraded at Suntrust to neutral. Checks indicate the company may have had a setback in license sales during the fourth quarter, Suntrust Robinson Humphrey said.

Stryker(SYK Quote) upgraded at Wachovia to Outperform Wachovia said the company will likely post the highest growth in the orthopedics business in 2008, led by the new product cycle.

Tibco Software(TIBX Quote) upgraded at Citigroup from hold to buy, with a $10 price target. Buyout potential has increased, following the BEA Systems(BEAS Quote) deal, Citigroup said.

Wells Fargo(WFC Quote) downgraded at Oppenheimer from outperform to perform. Estimates were also cut, to reflect the company's deteriorating mortgage credit.

STOCK COMMENTS / EPS CHANGES

Boeing(BA Quote) target price cut at Deutsche Bank from $95 to $85 to account for the 787 delay. Maintained hold rating.

Las Vegas Sands(LVS Quote) estimates cut at Morgan Stanley. Macau gaming data has been below expectations, and the Palazzo will open later in Las Vegas. In-line rating.

Sealy(ZZ Quote) price target cut at Goldman Sachs to $10 from $13 based on deteriorating macro outlook. Channel checks suggest the mattress market took another step down in the fourth quarter, with the prospects for a recovery this year appearing unlikely. Maintained neutral rating.

Northern Trust(NTRS Quote) target raised at Goldman to $71 from $69 following fourth-quarter results that showed solid revenue growth but disappointing growth in expenses. Note company benefitting from limited exposure to credit markets. Maintained neutral rating.

Sprint Nextel(S Quote) numbers cut at Morgan Stanley. Shares of S are now seen reaching $13, Morgan Stanley said. Estimates also cut, to reflect lower wireless profits. Underweight rating.