Wednesday's Analysts' Upgrades and Downgrades

CHANGE IN RATINGS

First Solar (FSLR Quote) initiated at Morgan Stanley: Morgan Stanley initiates coverage of First Solar with an equalweight rating and a $28 price target.

First Solar (FSLR Quote) rated new Outperform at Credit Suisse: Credit Suisse is initiating FSLR with an Outperform rating. Cites results will be driven by management's plans to add capacity, reduce costs and margin expansion. Sets $32 target price.

Hertz (HTZ Quote) initiated at Morgan Stanley: Morgan Stanley initiates coverage of Hertz with an equalweight rating and a $17.50 price target.

STOCK COMMENTS / EPS CHANGES

Ann Taylor (ANN Quote) estimates, target cut at Piper: ANN estimates cut through fiscal 2009 at Piper Jaffray. Promotional activity has been up year-over-year each week during the holiday season. Loft concept remains in transition. Market Perform rating, and a new $38 price target.

Rockwell Collins (COL Quote) numbers raised at UBS: COL numbers raised at UBS. Price targets jumps to $73 from $67. Reiterates Buy rating. ...