Altera: Analysts' Upgrades, Downgrades

See who made what calls.
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NEW YORK (TheStreet) -- CHANGE IN RATINGS

Autodesk (ADSK) - Get Report downgraded at Morgan Stanley from Equal-weight to Underweight. $22 price target. Stock is pricing in too much near-term growth.

AIG

(AIG) - Get Report

downgraded at Credit Suisse to Underperform from Neutral. 2009 and 2010 EPS estimates set at -$13.98 and $5.70, respectively. Price target lowered to $15 from $30.

Altera

(ALTR) - Get Report

upgraded at Morgan Stanley from Underweight to Overweight. $23 price target. Stock is already pricing in risks, like the potential for slower orders from China.

Amphenol

(APH) - Get Report

upgraded at Weisel from Market-weight to Overweight. $42 price target. Stock has underperformed its peers in recent months, but remains a best-in-class operator.

Array BioPharma

(ARRY) - Get Report

downgraded at UBS to Neutral from Buy. 2010 and 2011 EPS estimates set at $2.02 and $1.78, respectively. Price target lowered to $3.25 from $5.50.

Broadcom

(BRCM)

upgraded at Roth to Buy. $34 price target. Company should benefit from multiple new product cycles and a recovery in enterprise spending.

Cracker Barrel

(CRBL)

upgraded at Merrill/BofA to Buy from Underperform as CBRL has outperformed the industry from a restaurant sales perspective. 2009 and 2010 EPS estimates set at $2.80 and $3.05, respectively. Price target boosted from $24 to $37.

CareFusion

(CFN)

initiated at Barclays with an Equal Weight rating and $20 price target. Analysts mentioned CFN is big player in growing niche med technologies. 2010 and 2011 EPS estimates set at $1.14 and $1.36, respectively.

Chattem

(CHTT)

initiated at Merrill/BofA. Initiated with a Buy rating and $70 price target. Introduces 2009 EPS estimates of $4.55.

Costco

(COST) - Get Report

upgraded at Morgan Stanley from Equal-weight to Overweight. $64 price target. Margins should turn around, as sales recovery in non-food categories. Also see improvement in California stores.

Citrix Systems

(CTXS) - Get Report

downgraded at Morgan Stanley from Equal-weight to Underweight. $33 price target. Valuation call, as the stock is already up 53% year-to-date.

Dell

(DELL) - Get Report

downgraded at Morgan Stanley from Overweight to Equal-weight. Stock is already pricing in better 2010 numbers.

Exterran Holdings

(EXH)

initiated at Barclays with an Overweight rating and $25 price target. EXH is a good way to invest in the global growth in natural gas. 2009 and 2010 EPS estimates set at $1.15 and $0.70, respectively.

Eagle Materials

(EXP) - Get Report

upgraded at JP Morgan. Rating raised to Neutral from Underweight. Maintains $28 price target. Raises fiscal 2010 EPS estimates to $0.99 from $0.97.

General Electric

(GE) - Get Report

upgraded at JP Morgan. Rating raised to Overweight from Neutral. Price target raised to $17 from $12. Maintain 2009 EPS estimates of $0.80.

Corning

(GLW) - Get Report

downgraded at ThinkEquity from Buy to Accumulate. $17 price target. Panel prices are peaking as inventory is moving higher.

Gap

(GPS) - Get Report

upgraded at Credit Suisse to Outperform from Neutral as the company aims to go after the top-line. 2010 and 2011 EPS estimates increased to $1.48 from $1.34 and to $1.84 from $1.44, respectively. Price target boosted to $28 from $19.

Harley-Davidson

(HOG) - Get Report

upgraded at Citigroup from Sell to Hold. $26 price target. Checks show that retail demand has improved from the second quarter.

IBM

(IBM) - Get Report

downgraded at Morgan Stanley from Overweight to Equal-weight. $145 price targe. Companies with transaction-based business model could outperform over the coming quarters.

Lincoln National Corp

(LNC) - Get Report

downgraded at Merrill/BofA to Neutral from Buy on relative value. 2009 and 2010 EPS estimates set at $3.05 and $3.40, respectively. Price target lifted to $26 from $24.

Lam Research

(LRCX) - Get Report

upgraded at Morgan Stanley from Underweight to Overweight. $38 price target. Expect a near-term resumption in NAND memory spending.

Lexmark

(LXK)

upgraded at Morgan Stanley from Underweight to Equal-weight. Valuation call, though the company continues to face competitive challenges.

McDermott

(MDR) - Get Report

upgraded at Credit Suisse to Outperform from Neutral as MDR can grow EPS in 2010. 2009 and 2010 EPS estimates set at $1.60 and $2.05, respectively. Price target boosted from $27 to $31.

MetLife

(MET) - Get Report

upgraded at Merrill/BofA to Buy from Neutral on valuation. 2009 and 2010 EPS estimates set at $2.70 and $4.00, respectively. Price target raised to $44 from $39.

MFA Financial

(MFA) - Get Report

initiated at Credit Suisse with an Outperform rating and $8 price target at Credit Suisse. 2009 and 2010 EPS estimates set at $1.09 and $1.25, respectively.

Micron Technology

(MU) - Get Report

upgraded at UBS. Rating raised to Buy from Neutral. Price target raised to $9.50 from $7.00. Raises 2009 EPS estimates to -$2.06 from -$2.07.

NII Holdings

(NIHD) - Get Report

upgraded at Wells to Outperform. Stock is up about 60% against its benchmark indexes over the past 6 months, but subscriber trends are recovering.

Novellus Systems

(NVLS)

downgraded at Morgan Stanley from Overweight to Equal-weight. Stock is already pricing in cost-cutting and DRAM growth.

Penn National

(PENN) - Get Report

downgraded at Goldman from Buy to Neutral. $29 price target. Stock has more than doubled from its lows, and is likely already pricing in potential cost savings.

PMC-Sierra

(PMCS)

upgraded at Morgan Stanley from Equal-weight to Overweight. $12 price target. Checks indicate that China demand will bounce back.

PennyMac Mortgage

(PMT) - Get Report

initiated at Credit Suisse with an Outperform rating and $21.50 price target. 2009 and 2010 EPS estimates set at $0.74 and $3.75.

Panera Bread

(PNRA)

upgraded at Merrill/BofA to Buy from Neutral. PNRA is well-positioned from a sales, earnings, financial and brand perspective to outperform. 2009 and 2010 EPS estimate set at $2.67 and $3.07, respectively. Price target raised to $61 from $60.

QLogic

(QLGC)

upgraded at Morgan Stanley from Underweight to Overweight. $20 price target. Company should benefit from a recovery in storage and server spending.

Red Hat

(RHT) - Get Report

upgraded at Goldman from Neutral to Buy. $28 price target. Server cycle should be strong, given pent-up demand.

Range Resources

(RRC) - Get Report

initiated at Barclays with an Equal Weight rating and $43 price target. 2009 and 2010 EPS set at $0.70 and -$0.15, respectively.

Shaw Group

(SGR)

downgraded at Credit Suisse to Neutral from Outperform on belief that the market fully appreciates SGR's new generation and stimulus dollar opportunities. 2009 and 2010 EPS set at $2.00 and $2.25, respectively. Maintain $33 price target.

Teradata

(TDC) - Get Report

downgraded at Morgan Stanley from Overweight to Equal-weight. Valuation call, as there is limited relative upside to near-term results.

Tupperware

(TUP) - Get Report

initiated at Merrill/BofA. Initiated with a Buy rating and $44 price target. Introduces 2009 EPS estimates of $2.68.

Texas Instruments

(TXN) - Get Report

downgraded at Morgan Stanley from Overweight to Equal-weight. Stocks has performed well, and the consensus estimates are catching up with reality.

Texas Instruments

(TXN) - Get Report

estimates raised at UBS through 2010. Checks in Asia point to shortages and believe the company is seeing strong demand in computers, consumer and handsets. Buy rating and $27 price target.

VMware

(VMW) - Get Report

upgraded at Goldman from Neutral to Buy. $43 price target. Company should continue to grow, because of demand in virtualization.

MEMC Electronic

(WFR)

upgraded to Outperform at Friedman, Billings Ramsey. Checks show that the company has gained market share in solar as well as the semiconductor market. $22 price target.

Xilinx

(XLNX) - Get Report

upgraded at Morgan Stanley from Underweight to Overweight. $27 price target. Checks suggest that China will resume its infrastructure buildout soon.

STOCK COMMENTS / EPS CHANGES

Allstate

(ALL) - Get Report

target raised to $44 at Friedman, Billings Ramsey. Book value could grow in the third quarter, because of improving market returns. Outperform rating.

Aeropostale

(ARO)

target boosted at UBS to $49. Company offers the best value in the industry. Buy rating.

Best Buy

(BBY) - Get Report

price target lifted at Barclays to $44 from $42 on optimistic outlook for 2Q results. 2010 and 2011 EPS estimates increased to $2.96 from $2.92 and to $3.20 from $3.15, respectively. Maintain Overweight rating.

FedEx

(FDX) - Get Report

price target raised at Barclays to $85 from $71. 2010 EPS estimate lifted to $3.38 from $3.35 and maintain 2011 at $4.05. Reiterate Overweight rating.

Lubrizol

(LZ)

target boosted at Deutsche to $75. Company should deliver another upside earnings surprise, with pricing stable and costs declining. Buy rating.

National Semiconductor

(NSM)

numbers boosted at Friedman, Billings Ramsey through 2010. Consensus estimates likely too low, based on guidance from peers and recent checks. Market Perform rating and new $17 price target.

Procter & Gamble

(PG) - Get Report

target raised, estimates cut at UBS. Shares now seen reaching $70. On the other hand, estimates were lowered through 2011. Even so, the stock looks attractive to buy ahead of a potential turnaround. Buy rating.

Qualcomm

(QCOM) - Get Report

target boosted at Oppenheimer. Shares now seen reaching $56. Company should benefit from higher mobile handset sales. Outperform rating.

Research in Motion

(RIMM)

target raised at Oppenheimer. Shares now seen reaching $94. Company continues to benefit from higher smartphone demand. Outperform rating.

Sandisk

(SNDK)

numbers boosted at UBS. Shares now seen reaching $18. Estimates also raised, to reflect higher demand for smartphone components and tight industry supply. Neutral rating.

Urban Outfitters

(URBN) - Get Report

numbers boosted at Goldman. Shares now seen reaching $33. Estimates also raised, as the company should benefit from a shift in retail trends. Buy rating.

XL Capital

(XL)

target boosted at FBR. Shares now seen reaching $21. Company may have write-ups within its investment portfolio. Outperform rating.

This article was written by a staff member of TheStreet.com.