Wednesday's Analysts' Upgrades, Downgrades

Change in Ratings

Graftech International(GTI Quote) upgraded at Oppenheimer from perform to outperform with a $24 price target. Company has strong fundamentals, improving margins and a robust order outlook.

Kimberly-Clark(KMB Quote) downgraded at Goldman Sachs to sell from neutral based on earnings risk and valuation. See potential for downward revisions in earnings estimates stemming from higher energy costs and pulp inflation. Note price/earnings ratio is at high end of historical range. Target cut to $63 from $71.

MSC Industrial(MSM Quote) downgraded at Jefferies to hold rating from buy. EPS estimates for fiscal year 2009 dip to $3.35 from $3.40 while price target lifts to $50 from $45.

Range Resources(RRC Quote) downgraded at Morgan Stanley to equal-weight with a $75 price target. Valuation call, as the stock has significantly outperformed its peers over the past year.

Stock Comments/EPS Changes

Apache(APA Quote) price target raised at UBS. New target set at $146 from $138 on increased long-term visibility. ...