Analysts' Upgrades, Downgrades: Apple

CHANGE IN RATINGS

BB&T (BBT Quote) upgraded at FBR Capital to market perform from underperform and $20 price target maintained. At current levels, BBT's capital ratios are healthy relative to peers, however concerned over risky markets including FL, GA, TN and Carolinas. Expect credit losses to will continue to weigh on earnings and no near term catalysts.

C R Bard (BCR Quote) initiated at Deutsche Bank. Initiated with a Hold rating and $79 price target. Introduces 2009 EPS estimates of $5.00.

CA (CA Quote) downgraded at Goldman to Neutral from Buy. Lagging revenue and currency headwinds remain active factors that are challenging the stock. Lowered price target to $22 from $24.

Danaher (DHR Quote) upgraded at Deutsche Bank. Rating raised to Buy from Hold. Price target raised to $70 from $56. 2009 EPS estimates lowered to $3.38 from $3.44.

Dover (DOV Quote) upgraded at Deutsche Bank. Rating raised to Buy from Hold. Price target raised to $40 from $35. 2009 EPS estimates lowered to $1.91 from $2.05.

Netlogic(NETL Quote) initiated at Deutsche Bank. Initiated with a Hold rating and $35 price target. Introduces 2009 EPS estimates of $1.23.

Novellus Systems (NVLS Quote) upgraded at Needham from Hold to Buy. $22 price target. Estimates also raised, to reflect an improving industry outlook.

NYSE Euronext (NYX Quote) upgraded at BMO from Underperform to Market Perform. Estimates also raised, to reflect the weaker dollar. $25 price target.

Open Text(OTEX Quote) upgraded at Kaufman from Hold to Buy. $40 price target. Demand will remain strong for security and compliance, even with the economic slowdown.