Monday's Analysts' Upgrades, Downgrades

Change in Ratings

American Capital(ACAS) downgraded at UBS to sell rating from neutral. Price target cut to $28 from $34 and fiscal year 2008 EPS estimates lowered to $3.26 from $3.37.

Caci International(CAI) upgraded to buy from hold at Jefferies. Price target upped to $65 from $47 and fiscal year 2008 EPS estimates jump to 46 cents from 31 cents.

Mack-Cali(CLI) downgraded at UBS to sell rating from neutral and price target cut to $36 from $38.

Comerica(CMA) upgraded at Deutsche Bank to buy from hold. Price target raised to $52 from $36. 2008 EPS estimates lowered to $2.70 from $3.05.

Diebold(DBD) upgraded at KeyBanc to buy rating from hold. Price target holds at $47 while fiscal year 2008 EPS estimates increased to $2.13 from $1.85.

Ingersoll-Rand(IR) downgraded at Morgan Stanley to underweight from equal-weight. 2008 EPS estimates raised to $2.93 from $2.88. Price target removed.

Microsoft(MSFT) coverage reinstated at Goldman with a buy rating. View company as a defensive investment in current environment, with decision to walk away from Yahoo!(YHOO) deal showing management's price discipline. See gaming results and Windows Server 2008 driving top-line growth in next few quarters. Price target at $38.

UST(UST) upgraded at Deutsche Bank to buy from hold based on valuation following recent selloff. See shares undervalued relative to improved profit growth and competitive position. Although consumer weakness remains a risk, see continued steady cash flow and 2% growth in smokeless volume. Target at $58.