Analysts' Upgrades, Downgrades: BofA

Analysts Upgrades & Downgrades is published weekdays at 10am EDT.

CHANGE IN RATINGS

Bank of America (BAC) estimates raised at Morgan Stanley through 2011. Investment banking and retail brokerage revenue likely to top expectations in the coming quarters. Overweight rating and $32 price target.

Bank of America (BAC) upgraded at Keefe, Bruyette & Woods to Outperform. $16.50 price target. Valuation call, as the company has improved its balance sheet with recent capital raising.

BB&T (BBT) upgraded at Goldman to Neutral from Sell following their capital raise. Decreased target price to $24 from $25.

Corn Products (CPO) downgraded at BMO from Outperform to Market Perform. $30 price target. Valuation call. Recent problems should abate and margins could return to the double-digits in 2010.

Fifth Third Bancorp (FITB) upgraded at Goldman to Buy from Neutral following valuation. Raised target price to $8 from $6.50.

Great Plains Energy (GXP) upgraded at Goldman to Buy from Hold. The increase in ratings follows the completion of its equity overhang and attractive valuation. Maintained price target of $19.

Huntington Bancshares (HBAN) upgraded at Goldman to Neutral from Sell following their capital raise. Maintained target price of $4.50.

Jones Apparel (JNY) upgraded at Morgan Stanley to Overweight. $14 price target. Restructuring should begin to help margins in the second half of the year.

Mastercard (MA) initiated at Piper Jaffray. Initiated with a Buy rating and $222 price target. Introduces 2009 EPS estimates of $10.86.

PF Chang's (PFCB) upgraded at Argus to Buy. $41 price target. Same-store sales are recovering and cost-cutting should help margins.

Portland General Electric (POR) downgraded at Goldman to Neutral from Conviction Buy based on valuation. Maintained price target of $21.