Analysts' Upgrades, Downgrades: Flowserve

Change in Ratings

Amylin Pharmaceuticals(AMLN Quote) downgraded at Jefferies to hold from buy. Price target lowered to $33 from $47. 2008 EPS estimates maintained at -$2.08.

ATA Inc.(ATAI Quote) downgraded at Susquehanna from positive to neutral. ATAI has now exceeded its 12-month price target of $14. While there are still growth prospects due to strong operating leverage, expectations are now priced in given the stock's current valuation.

Flowserve(FLS Quote) price target raised at RBC to $150 from $140. Maintains outperform rating and 2008 EPS estimates of $6.35.

Investment Technology Group(ITG Quote) upgraded at Goldman to neutral from sell based on valuation. Stock down 19% since January, and now trades at 14 times 2008 earnings estimate. Note slowing U.S. equity volumes and increasing competition. Price target at $45.

Lumber Liquidators(LL Quote) downgraded at Goldman Sachs to neutral from buy based on valuation. See balanced risk/reward following strong run, and note that shares now trade at one of the highest multiples in coverage universe. Price target raised to $16 from $15.

Louisiana Pacific(LPX Quote) initiated at RBC with an underperform rating and $10 price target. Introduces 2008 EPS estimates of -$1.78.

Murphy Oil(MUR Quote) upgraded at Goldman Sachs to buy from neutral based on favorable position to benefit from high crude prices. Note successful ramp up at Kikeh field and other developmental projects. Price target raised to $115 from $105.

Domtar(UFS Quote) initiated at RBC with a sector perform rating and $7.25 price target. Introduces 2008 EPS estimates of 33 cents.

Stock Comments/EPS Changes

Dreamworks(DWA Quote) numbers raised at Jefferies. 2008 EPS estimates raised to $1.70 from $1.40. Price target raised to $33 from $25. Maintains hold rating.

Pilgrims Pride(PPC Quote) 2009 estimates lowered at Credit Suisse to $1.75 from $2.45. See margin recovery pushed back as corn futures continue to rise while commodity white meat prices remain low. Maintained $33 target and outperform rating.

VMware(VMW Quote) price target raised at UBS to $70 from $60 based on positive channel checks that indicate virtualization demand remains strong. Maintained neutral rating.