Analysts' Upgrades, Downgrades: Best Buy

CHANGE IN RATINGS

Best Buy (BBY Quote) added to Goldman's Americas Conviction Buy List based on newfound status as sole dominant retailer in consumer electronics. Expect high sales capture from Circuit City and note that competitive dynamics will ease over the short-term. Price target at $33.

Imperial Oil (IMO Quote) upgraded at Credit Suisse to Neutral from Underperform based on solid Q4 results, superior balance sheet and valuation.

Lincare (LNCR Quote) upgraded at Citigroup from Sell to Buy. $30 price target. Stock is already pricing in a worse Medicare impact.

Spirit Aerosystems (SPR Quote) downgraded at Merrill Lynch/Bank of America to Neutral. Valuation call, as the stock is up 29% year-to-date. Estimates also cut, to reflect lower Boeing revenue. $14.50 price target.

WMS Industries (WMS Quote) downgraded at Morgan Stanley to Equal-weight. Management is having trouble cutting costs fast enough.

STOCK COMMENTS / EPS CHANGES

Applied Materials (AMAT Quote) estimates cut at RBC through 2010. Company guided to lower results next quarters, as demand continues to decline. Sector Perform rating and $9 price target.

Coventry Health Care (CVH Quote) target raised at Credit Suisse to $19 from $14. Says encouraged by pledge to refine focus and patient investors will be rewarded. Maintained Outperform rating.

DirecTV (DTV Quote) estimates cut at UBS through 2010. Company spending more to gain new customers and ARPU is down. Buy rating and $32 price target.

DirecTV (DTV Quote) price target raised at Goldman to $24 from $22. Q4 results showed better-than-expected subscriber additions. Also note 4%-6% increase in basic rates. Maintained Neutral rating.

Expeditors (EXPD Quote) numbers raised at UBS through 2010. Company benefiting from lower capacity in air and ocean shipping. Neutral rating and new $32 price target.