Monday's Analysts' Upgrades, Downgrades

Change in Ratings

Cellcom Israel(CEL Quote) downgraded at Jefferies to hold rating from buy. Price target cut to $30 from $35 while 2008 EPS estimates raised to $2.15 from $2.12.

Cigna(CI Quote) upgraded at UBS to buy rating from neutral. Price target and fiscal year 2009 EPS estimates hold at $50 and $4.85, respectively.

CIT Group(CIT Quote) downgraded at Oppenheimer to perform. Company was too slow to address its liquidity concerns, and will likely have to execute a fire sale for its assets.

Rockwell Collins(COL Quote) upgraded at JPMorgan from neutral to overweight. Company trades at a discount to its peers, and should continue to announce program wins away from the 787 project.

Gap(GPS Quote) downgraded at UBS to neutral rating from buy. Price target and fiscal year 2009 EPS estimates hold at $22 and $1.34, respectively.

Lehman Brothers(LEH Quote) downgraded at Oppenheimer from outperform to perform. Valuation call. Estimates also cut, because of the company's cautious outlook.

Monsanto(MON Quote) upgraded at UBS, taking their short-term sell rating to buy. Price target holds at $125 while fiscal year 2009 EPS estimates upped to $3.30 and $3.25.

Textron(TXT Quote) downgraded at Cowen from outperform to neutral. Company will be hurt by a slowing U.S. economy and its heavy business jet exposure.

Stock Comments/EPS Changes

FedEx(FDX Quote) estimates cut at Morgan Stanley through 2009. Company is suffering from higher fuel costs and a macroeconomic slowdown. Overweight rating and $95 price target.