Analysts' Upgrades, Downgrades: Apple

CHANGE IN RATINGS

Astoria Financial (AF Quote) upgraded at JP Morgan to Neutral from Underweight based on valuation. Expect further deterioration in residential mortgage portfolio to drive higher reserve levels in 2010. Note that shares trade at 1.5 times tangible book value. Price target at $15.50.

LHC Group (LHCG Quote) downgraded at Deutsche Bank to Hold based on valuation. Note that shares gained 38.6% in 2008, driven by strong results that were ahead of expectations. Believe shares are now fairly valued relative to growth story. Price target raised to $38 from $36.

Medcath (MDTH Quote) downgraded at Deutsche Bank from Buy to Hold. 2009 estimates look too high, and the company has already missed earnings expectations four of the past five quarters.

STOCK COMMENTS / EPS CHANGES

Apple (AAPL Quote) numbers cut at Argus. Shares now seen reaching $145. Estimates also cut to reflect the weaker economy. Maintain Buy rating.