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Friday's Analysts' Upgrades, Downgrades

Change in Ratings

Abbott Labs (ABT - Get Report) Initiated at UBS with a buy rating. 2008 EPS estimates at $3.25. Price target is set to $61.

American Superconductor (AMSC - Get Report) downgraded at Jefferies to hold from buy. 2008 EPS estimates raised to -24 cents from -33 cents. Price target raised to $35 from $33.

Burger King (BKC) added to buy list at Goldman, replacing McDonald's (MCD - Get Report). Near-term, see more catalysts at BKC, including the lifting of overhang and investors refocusing on strong operations.

DRS Technologies (DRS) downgraded at UBS to neutral from buy. 2008 EPS estimates maintained at $3.30. Price target raised to $75 from $66.

Goodrich Petroleum (GDP - Get Report) downgraded at Suntrust from neutral to reduce with a $30 price target. Valuation call, following the strong first-quarter results.

Georgia Gulf (GGC) downgraded at UBS to neutral from buy. 2008 EPS estimates lowered to -$2.10 from 50 cents. Price target lowered to $4.50 from $10.00.

Sovereign Bancorp (SOV) upgraded at KBW to market perform. $1 billion to $2 billion capital raise appears to be in the works. $7 price target.

Teco Energy (TE) upgraded at Citigroup from hold to buy with a $21.50 price target. Estimates also raised, given the company's leverage to rising coal prices.

Valero (VLO) removed from Goldman's Conviction Buy List due to near-term headwinds. Recent pullback also triggered stop-loss rule. See shares cheap valuation but note exposure to widening light-heavy crude spreads. Price target at $60.

Stock Comments/EPS Changes

Aecom Technology (ACM) numbers raised at UBS. 2008 EPS estimates raised to $1.36 from $1.28. Price target raised to $34 from $31. Maintains buy rating.

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SYM TRADE IT LAST %CHG
GGC $54.58 0.00%
ABT $46.69 0.00%
AMSC $6.64 0.00%
GDP $3.75 0.00%
MCD $97.80 0.00%

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