Red Hat: Analysts' Upgrades, Downgrades

NEW YORK (TheStreet.com) -- CHANGE IN RATINGS

Altra (AIMC Quote) upgraded at Merrill/BofA to Buy from Neutral as Altra's valuation doesn't reflect an improved cost structure. Price target boosted to $13 from $6. 2009 and 2010 EPS estimate set at $0.19 and $0.60.

Ann Taylor (ANN Quote) downgraded at Goldman from Buy to Neutral. $17 price target. Stock has almost doubled over the past two months.

AstraZeneca (AZN Quote) downgraded at Goldman to Sell. Stock is already pricing in positive news from Brilinta and the company faces significant patent risk.

Autozone (AZO Quote) upgraded at FBR from Underperform to Market Perform. $134 price target. Valuation call, as consensus expectations have come down enough.

Autozone (AZO Quote) numbers raised at Goldman to $173. Estimates also increased, to reflect a lower share count, given management's commitment to buybacks. Neutral rating.

Cardinal Health (CAH Quote) downgraded at Deutsche Bank. Rating lowered to Hold from Buy. Price target raised to $30.00 from $28.50. Maintains fiscal 2010 EPS estimates of $1.95.

Calpine (CPN Quote) upgraded at Citigroup from Hold to Buy. $16.50 price target. Selling by large shareholder has created a buying opportunity. Estimates also raised, to reflect higher commodity prices.

KLA-Tencor (KLAC Quote) upgraded at Oppenheimer. Rating raised to Perform from Underperform. Price target raised to $37 from $27. Raises fiscal 2010 EPS estimates to $0.50 from $0.40.

L-3 Communications (LLL Quote) downgraded at JP Morgan. Rating lowered to Neutral from Overweight. Price target raised to $85 from $80. Raises 2009 EPS estimates of $7.45 from $7.40.