Analysts' Upgrades, Downgrades: Devon

Change in Ratings

Amazon.com (AMZN Quote) downgraded at Citigroup from Buy to Hold. $60 price target. Stock is up 36% since earnings, and growth will likely be pushed out until 2010.

Devon Energy (DVN Quote) downgraded at Goldman Sachs to Neutral from Buy due to recent outperformance and less upside vs. peers. Company remains well positioned in Haynesville Shale and Barnett Shale, but see greater upside in other E&P names. Price target raised to $92 from $90.

EOG Resources (EOG Quote) downgraded at Goldman Sachs to Neutral from Buy. Price target remains at $93.

Foster Wheeler (FWLT Quote) downgraded at Citigroup from Buy to Hold. $29 price target. Book-to-bill was under 1.0 for the third straight quarter, and consensus earnings estimates are likely still too optimistic.

Health Net (HNT Quote) upgraded at Goldman Sachs to Neutral from Sell based on valuation. See limited downside from current levels with potential upside if visibility improves or the company is willing to explore strategic options. Price target cut to $12 from $18.

Quality Systems (QSII Quote) downgraded at Oppenheimer from Outperform to Perform. $40 price target. Valuation call, as hospitals and doctors are likely to delay spending in the coming quarters.

WR Berkley (WRB Quote) downgraded at Citigroup from Buy to Hold. $28 price target. Estimates also cut, to reflect new loss trends and yield.

XTO Energy (XTO Quote) upgraded at Goldman Sachs to Buy from Neutral based on improved relative valuation and free cash flow. Also note potential for improved sentiment toward recently acquired properties. Price target unchanged at $45.