Friday's Analysts' Upgrades and Downgrades

Change in Ratings

Deutsche Bank downgrades Alltel(AT Quote) to hold, as it believes the firm's valuation is too rich.

Bear Stearns upgrades Eaton Corporation(ETN Quote) to outperform on strong outlook for 2008.

Goldman said it is upgrading Federated Investors(FII Quote) to Buy from Neutral based on valuation. See management improving equity flows in 2007. Dovish Fed or steeper yield curve would also bode well for company's money market business. Target price raised to $42.29 from $36.47. ...