Monday's Analysts' Upgrades and Downgrades

CHANGE IN RATINGS

AnnTaylor (ANN Quote) was upgraded from Underperform to Market Perform at Piper Jaffray. $36 price target. Company offer higher fiscal 2008 guidance, aided by its share repurchase program. LOFT sales also recovering.

BEA Systems (BEAS Quote) upgraded to Buy rating from Neutral at UBS. Price target and 2007 EPS estimates hold at $14 and $0.40, respectively.

Cognos (COGN Quote) upgraded at Morgan Stanley from equalweight to overweight, raises price target to $50 and raises 2007-08 EPS estimates.

Freeport-McMoran (FCX Quote) upgraded at Bear from Peer Perform to Outperform. $80 price target. Company has a diverse asset base, and estimates through 2008 are being raised to reflect higher copper prices. ...