Analysts' Upgrades, Downgrades: Gap

Marathon Oil (MRO Quote) downgraded at J.P. Morgan to Neutral.

PepsiAmericas (PAS Quote) downgraded at Goldman to Sell from Neutral. Price target at $18.

Qwest (Q Quote) downgraded at Morgan Stanley from Overweight to Equal-weight.

Raytheon (RTN Quote) upgraded at Goldman Sachs to Buy from Neutral. Price target raised to $57 from $53.

Smithfield Foods (SFD Quote) downgraded at Deutsche Bank to Hold from Buy. Stock has reached its target price of $14.

Shaw Group (SGR Quote) upgraded at Smith Barney to Hold from Sell. Price target raised to $28 from $16. Raises fiscal 2009 EPS estimates to $2.73 from $2.34.

Stryker (SYK Quote) downgraded at Morgan Stanley from Equal-weight to Underweight. $37 price target. Estimates also cut.

STOCK COMMENTS / EPS CHANGES

Apollo (APOL Quote) numbers raised at Barclays. Shares now seen reaching $95. Estimates also boosted to reflect higher sales and enrollment in the most recent quarter. Overweight rating.

Avon (AVP Quote) numbers cut at Citigroup. Shares now expected to reach $29. Estimates also lowered. Buy rating.

Celgene (CELG Quote) added to Top Picks list at Citigroup. Buy rating and $73 price target.

Coach (COH Quote) numbers lowered at Barclays. Shares now seen reaching $35. Estimates also cut to reflect lower sales and margins in the latest quarter. Overweight rating.

Manitowoc (MTW Quote) numbers cut at UBS. Shares now seen reaching $9. Estimates also lowered to match the company's new guidance. Neutral rating.

Spectra Energy (SE Quote) numbers cut at Barclays. Shares now seen reaching $21. Estimates also lowered to reflect negative expected commodity prices and higher financing costs. Equal-weight rating.