Analysts' Upgrades, Downgrades: Intel

Change in Ratings

Circuit City (CC Quote) downgraded at RBC to Underperform. $1 price target. Firm says company will likely face bankruptcy if it struggles through the holiday selling season. Flat-panel TV's are the only segment that's growing.

Intel (INTC Quote) upgraded at Piper Jaffray to Buy from Neutral due to valuation, strong competitive position, solid balance sheet and cash flow. Believe gross margin improvement could translate to better-than-expected near-term earnings and note success of Atom processor. Price target at $22.

Landstar (LSTR Quote) upgraded at Wachovia from Market Perform to Outperform. Risk/reward looks attractive, especially with near-term demand up because of hurricane-related activities.

Total System Services (TSS Quote) downgraded at Oppenheimer from Outperform to Perform. Rapid bank consolidation and other risks to growth will be difficult to overcome. Estimates also cut through 2010.

Stock Comments/EPS Changes

EBay (EBAY Quote) price target cut at Goldman Sachs to $26 from $30 based on deteriorating conversion rates, moderating benefits from foreign currencies and weakening global economy. Believe negative implications for GMV will keep shares range-bound. Maintained Neutral rating.

Reliant Energy (RRI Quote) target lowered at Credit Suisse to $17 from $30 on concerns from financial developments related to Hurricane Ike and lower commodity prices. Maintained Outperform rating.

Walgreen (WAG Quote) target cut at Credit Suisse to $36 from $42 following worse-than-expected Q4 results. Maintained Outperform rating.