TSC Ratings' Upgrades, Downgrades: BUD

Change in Ratings

Aflac (AFL) coverage initiated at SunTrust Robinson Humphrey with a buy rating. Sees increased demand in Japan as the government shrinks coverage. Believes the strengthening yen and pre-tax margin increases will boost earnings this year. Price target of $78.00.

Brasil Telecom Participacoes (BRP) downgraded at JPMorgan to underweight from neutral. Believes stock trading at a premium to TMAR is unjustified. Sees no positive outlook with the Telemar/BRP combination. Price Target reduced to $80.

Anheuser-Busch (BUD) downgraded at UBS to neutral from buy. Price target raised to $65 from $58. Maintains 2008 EPS estimates of $3.06.

Fifth Third Bancorp (FITB) downgraded at BMO Capital Markets to market perform from outperform at BMO. Believe charge-offs will come in above management's target, based on deteriorating conditions in housing. Also expect dividend cut. Price target lowered to $16 from $25.

Finisar (FNSR) downgraded at Piper Jaffray to neutral from buy based on integration risk from its Optium acquisition. Cuts target price to $1.75 from $2.

NetSuite (N) rated new hold at Deutsche Bank. Believes at current levels, risk/reward is balanced. Sets $22 target price.

Online Resources (ORCC) rated new buy at Piper Jaffray. Believes company is poised for solid organic revenue growth and has a favorable competitive position. Sets $14.50 target price.

Rent-A-Center (RCII) coverage initiated at Morgan Keegan with a market perform rating. Note favorable environment for rent-to-own stores based on credit environment, especially for subprime borrowers. Note ongoing legal concerns. Price target at $22.

Time Warner (TWX) coverage initiated at Stanford Group with a buy rating. Believes new CEO cost cuts initiative improve cash flow. Sees major buybacks and strategic acquisitions if cable unit separates. Price target at $20.00.

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