Analysts' Upgrades, Downgrades: Delta

CHANGE IN RATINGS

Adtran (ADTN Quote) upgraded at Citigroup to Buy. $27 price target. Company has significant potential to accelerate revenue growth.

BJ Services (BJS Quote) downgraded at JPMorgan. Rating lowered to Underweight from Neutral. Price target lowered to $12 from $17. 2009 EPS estimates lowered to 76 cents from 85 cents.

Continental Airlines (CAL Quote) upgraded at Morgan Stanley. Rating raised to Overweight from Equal-weight. Introduces $12 price target. 2009 EPS estimates raised to $2.34 from 18 cents.

Cisco Systems (CSCO Quote) initiated at Deutsche Bank. Initiated with a Buy rating and $26 price target. Introduces 2009 EPS estimates of $1.12.

Delta Air Lines (DAL Quote) initiated at Morgan Stanley. Initiated with an Overweight rating and $9 price target. Introduces 2009 EPS estimates of -69 cents.

Energy Conversion Devices (ENER Quote) initiated at JPMorgan. Initiated with an Overweight rating and $28.50 price target. Introduces 2009 EPS estimates of 84 cents.

F5 Networks (FFIV Quote) initiated at Deutsche Bank. Initiated with a Hold rating and $37 price target. Introduces 2009 EPS estimates of $1.06.

First Solar (FSLR Quote) downgraded at JPMorgan. Rating lowered to Neutral from Overweight. Price target raised to $140 from $92. Maintains 2009 EPS estimates of $5.83.

Gran Tierra Energy (GTE Quote) initiated at JPMorgan. Initiated with a Neutral rating. Introduces 2009 EPS estimates of 18 cents.

Johnson Controls (JCI Quote) downgraded at Deutsche Bank. Rating lowered to Hold from Buy. Price target raised to $23 from $20. 2009 EPS estimates lowered to 39 cents from 42 cents.

Juniper Networks (JNPR Quote) initiated at Deutsche Bank with a Hold rating and $22 price target. Introduces 2009 EPS estimates of 47 cents.