Friday's Analysts' Upgrades, Downgrades

Change in Ratings

Franklin Resources(BEN Quote) downgraded at JPMorgan from neutral to underweight. Company could soon see net redemptions. Estimates also cut as fee and interest income also declining.

Compass Minerals(CMP Quote) downgraded at Credit Suisse from overweight to neutral. Valuation call. Estimates also increased, because of higher expected potash prices.

Capital One Financial(COF Quote) downgraded at KBW from market perform to underperform. Credit outlook will outweigh better than expected first-quarter results. $40 price target.

Capital One Financial estimates raised at UBS 7:38 AM EDT COF estimates raised at UBS. 2008 EPS estimates raised to $5.00 from $4.70. Maintains Sell rating and $46 price target.

Entergy(ETR Quote) downgraded at Jefferies to hold from buy. Maintains $116 price target and 2008 EPS estimates of $6.80.

Exelon(EXC Quote) downgraded at Jefferies to hold from buy. Maintains 2008 EPS estimates of $4.40 and $90 price target.

Google(GOOG Quote) upgraded at Jefferies to buy from hold. Raises 2008 EPS estimates to $20.51 from $19.19. Maintains $600 price target.

MKS Instruments(MKSI Quote) upgraded at Credit Suisse from neutral to overweight. Near-term estimates may be too high, but the stock is poised to outperform when the sector begins to recover.

Philip Morris International(PM Quote) short-term rating introduced at UBS. Initiates a short-term rating of buy. Reiterates long-term rating of neutral, $54 price target and 2008 EPS estimates of $3.18.

Textron(TXT Quote) downgraded at Credit Suisse from overweight to underweight. Expect earnings estimates to come down, as a handset slowdown emerges in Europe.

Stock Comments/EPS Changes

AMD(AMD Quote) 2008 EPS estimates lowered at Jefferies to -$1.52 from -$1.00. Maintains hold rating and $7 price target.

AMD 2008 EPS estimates lowered at UBS to -$1.19 from -97 cents. Reiterates neutral rating and $7.25 price target.

Amylin Pharmaceuticals(AMLN Quote) 2008 EPS estimates lowered at Jefferies to -$2.11 from -$2.10. Maintains buy rating and $47 price target.

Continental Airlines(CAL Quote) 2008 EPS estimates lowered at UBS to -$3.33 from -$1.81. Maintains neutral rating and $22 price target.

Cubist Pharmaceuticals(CBST Quote) 2008 EPS estimates raised at Jefferies to $1.38 from $1.32. Maintains buy rating and $31 price target.

Checkpoint Software(CHKP Quote) 2008 EPS estimates raised at Jefferies to $1.77 from $1.73. Maintains hold rating and $24 price target.

CIT Group(CIT Quote) 2008 EPS estimates lowered at UBS to -$1.20 from $2.15. Maintains price target of $21 and buy rating.

Cypress Semi(CY Quote) target raised, estimates cut at Jefferies. Price target raised to $30 from $22. 2008 EPS estimates lowered to $1.02 from $1.22. Maintains hold rating.

Cypress Semi 2008 EPS estimates lowered at UBS to 49 cents from 50 cents. Maintains buy rating and $35 price target.

Cytec(CYT Quote) 2008 EPS estimates lowered at Jefferies to $4.15 from $4.28. Maintains buy rating and $67 price target.

Dynegy(DYN Quote) price target raised at Jefferies to $10.50 from $9.00. Maintains buy rating and 2008 EPS estimates of 20 cents.

Consolidated Edison(ED Quote) price target raised at Jefferies to $40.50 from $38.00. Maintains hold rating and 2008 EPS estimates of $3.00.

Evergreen Solar(ESLR Quote) numbers raised at Jefferies. Price target raised to $10 from $8. 2008 EPS estimates raised to -34 cents from -40 cents. Maintains hold rating.

E*Trade(ETFC Quote) price target raised at Goldman to $4 from $2.50 based on stabilizing client attrition trends. Although first-quarter earnings missed estimates, management commentary on $11.4 billion home equity portfolio was more upbeat than expected. Believe company needs to raise capital. Maintained neutral rating.

FirstEnergy(FE Quote) price target raised at Jefferies to $85 from $82. Maintains buy rating and 2008 EPS estimates of $4.35.

Harley-Davidson(HOG Quote) price target lowered at Goldman to $39 from $42 based on lower 2008 production guidance, higher raw materials costs and restructuring expenses. Also note tighter credit standards at HDFS. Maintained neutral rating.