Analysts' Upgrades, Downgrades: BofA

CHANGE IN RATINGS

American Tower (AMT Quote) upgraded at RBC to outperform from sector perform and $38 price target maintained. Upgrade due to recent underperformance vs. the tower average and wireless carriers. RBC believes that tower operators will continue to see robust site leasing demand by carriers.

AutoNation (AN Quote) downgraded at Goldman Sachs to Sell. With major structural changes playing out in the auto retail industry, see downside in shares based on expensive valuation relative to uncertain earnings outlook. Note lack of operating leverage compared to peers if auto sales recover. Price target at $14.

Allegheny Energy (AYE Quote) downgraded at Wachovia. Rating lowered to Market Perform from Outperform. Valuation range lowered from $31-$33 to $28-$29. Maintains 2009 EPS estimates of $2.55.

Bank of America (BAC Quote) upgraded at Goldman Sachs to Buy from Neutral based on improving earnings outlook and upcoming completion of capital raising. Note potential earnings strength this quarter, driven by mortgage and capital markets units. Expect at-the-market capital raising to be completed over the next two weeks, eliminating supply overhang in the stock. Price target raised to $15 from $7.

Brinker Int'l. (EAT Quote) upgraded at Barclays from Equal-weight to Overweight. $19 price target. Value pricing and cost controls should help stabilize near-term results.

Energizer (ENR Quote) estimates, target cut at Merrill/BofA. Shares now seen reaching $65. Estimates lowered to reflect the recent equity offering. Buy rating.

Energizer (ENR Quote) upgraded at UBS from Sell to Neutral. $53 price target. Stock now seems to be pricing in higher advertising spending and the recent stock offering.