Monday's Analysts' Upgrades, Downgrades

Change in Ratings

American Capital(ACAS Quote) 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 Quote) 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 Quote) downgraded at UBS to sell rating from neutral and price target cut to $36 from $38.

Comerica(CMA Quote) 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 Quote) 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 Quote) downgraded at Morgan Stanley to underweight from equal-weight. 2008 EPS estimates raised to $2.93 from $2.88. Price target removed.

Microsoft(MSFT Quote) 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 Quote) 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 Quote) 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.