Analysts' Upgrades, Downgrades: Verizon

CHANGE IN RATINGS

Amazon.com (AMZN Quote) upgraded at JP Morgan to Overweight from Neutral based on market share growth within eCommerce sector. Price target at $65.

Bed Bath & Beyond (BBBY Quote) downgraded at Goldman Sachs to Neutral from Buy. Shares are up 29% since being added to Buy list on Nov. 12 and are now nearing $28 target.

Best Buy (BBY Quote) upgraded at Goldman Sachs to Buy from Neutral based on potential multiple expansion, cost-control initiatives and capital discipline. Price target raised to $34 from $31.

Biogen Idec (BIIB Quote) downgraded at JP Morgan to Neutral from Overweight due to more cautious near-term view of Tysabri sales and lack of major positive catalysts in 2009. Price target at $50.

Continental Airlines (CAL Quote) upgraded at Goldman Sachs to Buy from Neutral based on fuel cost savings and valuation. Believe company's liquidity position is sound and expect investors to grow more confident about potential for profitability in 2009. Price target raised to $24 from $17.

CarMax (KMX Quote) downgraded at Goldman Sachs to Sell from Neutral based on expected underperformance caused by continued challenges beyond consumer spending. Expect additional stress in credit markets and ongoing erosion in bad debt. Maintained $7 price target.

Leap Wireless (LEAP Quote) upgraded at Wachovia from Market Perform to Outperform. New market launches should drive subscriber growth in the first half of 2009.

Novellus Systems (NVLS Quote) downgraded at Credit Suisse to Underperform. $9.50 price target.

AT&T (T Quote) downgraded to Market Perform from Outperform at Sanford Bernstein and price target reduced to $27 from $35.