Analysts' Upgrades, Downgrades: Symantec

KLA-Tencor (KLAC Quote) Upgraded at Credit Suisse to Neural from Underperform. Cites a much stronger pattern in near term orders, heavy cost cutting initiatives, and best valuation for a long term outlook. Increased target price to $30 from $18.

Novellus (NVLS Quote) Upgraded at Credit Suisse to Neutral from Underperform. Cites a much stronger pattern in near term orders and heavy cost cutting initiatives. Raised target price to $19 from $9.50.

Oshkosh (OSK Quote) upgraded at Keybanc from Hold to Buy. $30 price target. New MRAP contract changes the game for the company. Higher cash flow will also allow management to pay down debt.

Rackspace Hosting (RAX Quote) downgraded at Goldman to Neutral from Buy as the stock seems to be fully valued at this juncture. Increased target price to $14 from $11.50 to reflect the estimate increases and the impact of recent multiple expansion.

Seagate Technology (STX Quote) upgraded at Merrill/BofA from Underperform to Buy. $14 price target. Recent market outperformance should continue, driven by leverage and higher earnings.

Symantec (SYMC Quote) Upgraded at Deutsche Bank to buy from hold at price target increased to $19 from $17. SYMC has under-performed significantly over the last several months. At 9x EV/FCF, the stock is near the bottom of its historical trading range. In conjunction with early signs of executional improvement, compelling risk-reward opportunity into the back half of the year.

T Rowe Price (TROW Quote) upgraded at JPMorgan. Rating raised to Neutral and Underweight. Price target raised to $47.50 from $43.50. 2009 EPS estimates lowered to $1.43 from $1.51.