Analysts' Upgrades, Downgrades: Biogen

Universal American (UAM) upgraded at Goldman to Neutral from Sell based on an attractive valuation. Increased price target to $9.50 from $9.

STOCK COMMENTS / EPS CHANGES

Chico's FAS (CHS) numbers raised at Goldman to $8.50 from $8. Positive operational and product initiatives that are resulting in optimal square footage usage and updated products bode well for the company's outlook. Maintained Neutral rating.

Chico's (CHS) estimates lowered at UBS through 2011. Operating expenses remain high and it will take longer to turn the business around. Neutral rating and $10 price target.

Commercial Metal Company (CMC) target raised at Goldman to $18 from $17 based on a higher cash balance for the company. Maintained Neutral rating.

Devon Energy (DVN) numbers lowered at Morgan Stanley through 2011. Natural gas price outlook remains murky. Overweight rating and new $80 price target. Overweight rating.

eBay (EBAY) numbers boosted at Barclays through 2010. Company should benefit from a weaker dollar and the Gmarket acquisition. Equal-weight rating and new $18 price target.

Flowserve (FLS) target raised at Credit Suisse to $85 from $80. Confidence in after market growth, a more variable cost structure, and mixed end markets led to the increase in numbers. Maintained Outperform rating.

General Mills (GIS) estimates boosted at RBC through 2010. Management recently boosted earnings guidance. Outperform rating and $60 price target.

Microsoft (MSFT) price target raised at Deutsche Bank. Price target raised to $30 from $22. Maintains Buy rating and 2009 EPS estimates of $1.68.

Omnicom (OMC) estimates reduced at Barclays through 2010. Macro concerns will likely weigh on revenue. Overweight rating and $40 price target.

SLM (SLM) estimates, target raised at Friedman, Billings to $16. Estimates also boosted, to reflect improving student loan spreads. Outperform rating.

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