Analysts' Upgrades, Downgrades: Microsoft

CHANGE IN RATINGS

American Electric Power (AEP Quote) upgraded at JPMorgan to Overweight from Neutral. Believe sharp valuation discount vs. peers is unwarranted. Note stable business outlook, improved balance sheet and relatively safe dividend. Price target at $32.

Burger King (BKC Quote) downgraded at Goldman Sachs to Neutral from Buy following disappointing quarterly results. Same store sales and margins were both weaker than expected and were contrary to management's positive comments during February analyst day. Price target lowered to $21 from $26.

Kraft Foods (KFT Quote) downgraded at UBS from Buy to Neutral. $24 price target. Estimates also cut, based on a lower volume growth forecast.

Micros Systems (MCRS Quote) upgraded at Jefferies from Hold to Buy. $25 price target. Despite weak revenue trends, cost-cutting is running ahead of market expectations.

Micron (MU Quote) upgraded at Barclays from Equal-weight to Overweight. $7 price target. Company should benefit from lower industry CapEx spending and a more constructive supply-side outlook.

Nalco (NLC Quote) downgraded at JPMorgan to Neutral from Overweight due to potential earnings miss as a result of poor demand environment. Believe current consensus expectations are too high and see limited upside for shares without strong earnings. Price target at $15.

Nucor (NUE Quote) downgraded at UBS from Buy to Neutral. $44 price target. Sector has had a strong move in the past 6 weeks, and pricing remains weak.

Starbucks (SBUX Quote) downgraded at UBS from Buy to Neutral. $13 price target. Expect to see more sluggish sales and fewer opportunities to cut costs.