Analysts' Upgrades, Downgrades: Yahoo!

CHANGE IN RATINGS

Abercrombie & Fitch (FBR) upgraded at FBR to Outperform from Market Perform based on a change in promotional philosophy and a positive effect on recent clearance sales. Price target increased to $37 from $21.

CB Richard Ellis (CBRE) upgraded at Goldman Sachs to Neutral from Sell based on valuation. Expect transaction activity to remain low and note constrained capital resources. See potential for earnings recovery but prefer JLL based on more appropriate leverage ratios as well as segment and geographic diversity. Price target at $7.

Coventry Health Care (CVH) downgraded at UBS to Neutral from Buy. Links to macroeconomic factors and stretched valuation has led to the decrease in ratings. Maintains target price of $19.

Dolby Laboratories (DLB) upgraded at JPMorgan to Overweight from Neutral based on valuation. Recent pullback provides opportunity to buy shares of long-term growth stock at reasonable levels. Note that consumer electronics demand appears to be stabilizing, and company is poised to benefit from strength in Blu-ray players and DTV/Broadcasting. Price target raised to $44.50 from $41.50.

Illinois Tool Works (ITW) upgraded at Credit Suisse to Outperform from Neutral. Cites stabilization in restructuring efforts mark an upward trajectory for margins and attractive data points. Price target increased to $39 from $30.

Kohl's (KSS) upgraded at Weisel to Overweight. $50 price target. Expect the company to post better than expected May comp sales later this week.

Netlogic (NETL) upgraded at JMP to Outperform from Market Perform following industry checks and broad-based indications that business momentum is improving. Price target set at $40.

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