Publish date:

Analyst Actions: Ralston, Black & Decker, ADC Telecommunications, Office Depot

Author:

Wasting no time,

Goldman Sachs

analyst Romitha Mally downgraded the shares of

Ralston Purina

(RAL)

to market perform and removed the shares from the company's recommended list. This morning, it was announced that Ralston would be

purchased by Swiss food maker

Nestle

(NSRGY) - Get NSRGY Report

for $33.50 a share. In preopen activity Ralston's shares were jumping on the news.

Upgrades

AvalonBay Communities

(AVB) - Get AvalonBay Communities, Inc. Report

: UP to buy from outperform at

Lehman Brothers

.

Black & Decker

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TheStreet Recommends

: UP to buy from hold at CSFB.

Centex

(CTX)

: UP to buy from hold at CSFB.

Office Depot

(ODP) - Get ODP CORPORATION Report

: UP to buy from hold at

Credit Suisse First Boston

.

Downgrades

ADC Telecommunications

(ADCT) - Get ADC Therapeutics SA Report

: DOWN to buy from strong buy at

Deutsche Banc Alex. Brown

.

Advanced Fibre Communications

(AFCI)

: DOWN to buy from strong buy at Alex. Brown.