Analysts' Upgrades, Downgrades: Nokia

McDermott (MDR Quote) 2009 estimate cut because pension expenses and the power segment, at Barclays Capital. Overweight rating and new $16 price target.

NII Holdings (NIHD Quote) upgraded at Goldman to Buy from Neutral. Note attractive entry point after shares fell 36% since Q4 earnings announcement on currency concerns. See attractive valuation and defensive characteristics of telco business.

Palm(PALM Quote) upgraded at Piper Jaffray to Buy from Neutral following negative preannouncement of Q3 results. Despite negative results, believe Pre will drive longer term profitability. Note growing carrier interest ahead of Pre launch. Price target raised to $10 from $4.

Palm (PALM Quote) price target lowered at Goldman after the company preannounced Q3 sales far below the existing consensus due to weak sales of legacy portfolio. Maintained Neutral rating.

Pepco (POM Quote) downgraded at Barclays from Overweight to Equal-weight. $15 price target. Estimates also cut, to reflect the possible sale of the retail business.

Pepco (POM Quote) downgraded at Wachovia from Outperform to Market Perform. Estimates also cut, as the company's competitive businesses will be hurt by the economy.

STOCK COMMENTS / EPS CHANGES

Chico's FAS(CHS Quote) estimates reduced at UBS through 2011. Company is in the early stages of cost-cutting, but looking at a mid-teens comp sales decline next quarter. Neutral rating and $4 price target.

Marsh & McLennan (MMC Quote) target lowered at UBS to $19. The uncertain environment should limit the company's near-term multiple expansion. Neutral rating.

Mylan(MYL Quote) estimates, target raised at Morgan Stanley to $14. Estimates also increased, based on success of generic Paxil. Overweight rating.

Nokia (NOK Quote) estimates, target cut at Barclays to $12. Estimates also reduced, because of the slow handset market. Overweight rating.

AT&T (T Quote) added to J.P. Morgan Analyst Focus List based on strong expected performance in wireline business. Also note that wireless margins are likely to rebound, while ARPU results could outperform industry. Price target at $28.

Time Warner (TWX Quote) 2009 estimate cut at Barclays on lower DVD sales and the advertising business. Equal-weight rating and new $9 price target.

Xilinx (XLNX Quote) estimates increased through 2010 at UBS. Company seeing higher sales to China, and operating expenses are trending lower. Buy rating and $21 price target.