Thursday's Analysts' Upgrades, Downgrades

Bed, Bath & BeyondBBBY numbers raised at UBS. 2008 EPS estimates raised to $2.20 from $2.10. Price target raised from $32 to $40. Maintains buy rating.

BiogenBIIB target raised at Goldman based on increased earnings expectations and strong Avonex sales. Note continued concern over long term safety of Tysabri. Maintained neutral rating.

ChipotleCMG 2008 EPS estimates lowered at Jefferies to $2.64 from $2.68. Maintains buy rating and $130 price target.

Citrix SystemsCTXS 2008 EPS estimates lowered at Jefferies to $1.58 from $1.61. Maintains price target of $32 and neutral rating.

Citrix Systems numbers lowered at UBS. 2008 EPS estimates lowered to $1.14 from $1.38. Price target lowered to $35 from $37. Maintains neutral rating.

EquinixEQIX numbers raised at Jefferies. 2008 EPS estimates raised to 31 cents from 27 cents. Price target raised to $130 from $120. Maintains buy rating.

General DynamicsGD 2008 EPS estimates raised at Jefferies to $5.90 from $5.80. Maintains $102 price target and buy rating.

Lam ResearchLRCX numbers cut at Morgan Stanley through 2009. Company realizing higher cost, largely because of the SEZ acquisition. Overweight rating and new $53 price target.

Level 3 Communications price target raised, estimates lowered at Jefferies. Price target raised to $3.25 from $2.25. 2008 EPS estimates lowered to -39 cents from -38 cents. Maintains hold rating.

McDonald'sMCD 2008 EPS estimates raised at UBS to $3.36 from $3.23. Maintains buy rating and $67 price target.

Proctor & GamblePG numbers lowered at UBS. 2008 EPS estimates lowered to $3.86 from $3.92. Price target lowered to $80 from $90. Maintains buy rating.