Analysts' Upgrades, Downgrades: Altria

Change in Ratings

Ceradyne (CRDN Quote) was downgraded to Hold at Morgan Joseph. Estimates also cut, as the company will not ship any of its X-SAPI body armor this quarter, because of a customer contract protest.

Empire District Electric (EDE Quote) was upgraded from Hold to Buy at Jefferies with an $18.50 price target. Company generates solid earnings and cash flow, supporting the 7.4% dividend yield.

Stock Comments / EPS Changes

Barclays Capital cut estimates for Altria (MO Quote), which is now seen earning $1.75 a share in 2009. Expect higher taxes to cut into demand. Equal-weight rating and $24 price target.

Barclays Capital also cut its 2009 estimate for Reynolds American (RAI Quote) to $4.65. Expect higher taxes to cut into demand. Equal-weight rating and $53 price target.

Credit Suisse cut estimates for Westlake Chemical (WLK Quote), which is now expected to earn $1.18 a share in 2008. Company is idling one of its ethylene plants. Outperform rating and $21 price target.