Analysts' Actions: A Daily Roundup of Street Research

Who made what calls.
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CHANGE IN RATINGS

Applebee's

initiated at Jefferies:Jefferies said it was initiating coverage on APPB with a Hold rating and a $24 price target citing a recent slump and high energy costs.

Darden's

initiated at Jefferies:Jefferies said it was initiating coverage on DRI with a Hold rating and $39.50 target citing its sector leadership and fair valuation.

eBay

target raised at Jefferies:Jefferies said it was raising EBAY target to $50 from $45 on strong 4Q results and flat guidance. Maintained Buy rating.

eBay

upgraded at Friedman, Billings:Friedman, Billings, Ramsey said it was upgrading EBAY from Market Perform to Outperform with a target of $52 citing strong business momentum and overly conservative guidance.

Human Genome Sciences

upgraded at Wachovia:Wachovia said it was upgrading HGSI to Outperform from Market Perform ahead of Albuferon Phase IIb data. FY 2006 EPS estimate raised from $-1.95 to $-1.81.

IHS

downgraded at Piper:Piper said it is downgrading IHS to a Market Perform rating based on valuation. Business model and market position still strong.

McDonald's

initiated at Jefferies:Jefferies said it was initiating coverage on MCD with a Hold rating and $37.50 target.

McDonald's

upgraded at Piper:Piper said it is upgrading MCD to an Outperform rating due to improved fundamentals and market share gain potential.

Nortel

downgraded at Morgan Stanley:NT was downgraded to Equal-weight, Morgan Stanley said. Estimates also cut, as the Indian wireless business has been slow. Margins could also disappoint in optical networking.

Newell Rubbermaid

upgraded at Merrill Lynch:Merrill Lynch said it was upgrading NWL to Buy on margin and ROIC improvement. Set $27 target.

Outback Steakhouse

initiated at Jefferies:Jefferies said it was initiating coverage on Jefferies with a Hold rating and $47 target.

Polaris

downgraded at BB&T Capital Markets: BB&T Capital Markets said it was downgrading PII from Buy to Hold on weakness in ATV & snowmobile sales. FY 2006 EPS estimates lowered from $3.61 to $3.45.

QLogic

upgraded at Piper: Piper said it is upgrading QLGC to a Market Perform rating to account for increased sales momentum in HBA and switch business. Target price raised to $36.

Royal Caribbean

downgraded at AG Edwards: RCL was downgraded from Buy to Hold, AG Edwards said. Company facing higher fuel costs, and the 2006 consensus estimate could prove conservative.

Rowan

upgraded at JP Morgan: JP Morgan said it was upgrading RDC from Neutral to Overweight on valuation and attractive growth opportunities. FY 2006 and 2007 EPS estimates raised from $3.35 and $4.30 to $3.70 and $4.80 respectively.

Royal Dutch Shell

downgraded at Merrill Lynch: Merrill Lynch said it was downgrading RDS from Buy to Neutral citing valuation.

Saks

upgraded at Citigroup: Citigroup said it is increasing its rating on SKS to Hold from Sell with a $21 target price. The company expects to explore strategic alternatives.

Synovus

upgraded at Prudential: Prudential said it is upgrading SNV to an Overweight rating due to strong outlook and margin expansion.

STOCK COMMENTS / EPS CHANGES

Apple

outlook raised at Goldman: Goldman said it is increasing its estimates on AAPL for the full year to $2.15 a share from $1.83 a share. Maintained Inline rating.

Apple

estimates raised at Prudential: Prudential said it is raising its 2006 estimates on AAPL by 24 cents to $2.05 a share. Maintained Neutral Weight rating.

Apple

estimates lowered at UBS: UBS said it was lowering FY 2006 and 2007 EPS estimates from $2.33 and $2.80 to $2.24 and $2.75 respectively citing equity compensation partially offset by higher gross margins. Maintained Buy 2 rating and $100 target.

Advanced Micro Devices

estimates, target raised at Jefferies: Jefferies said it was raising AMD FY 2006 EPS estimates from $0.76 to $1.48 and target raised from $22 to $37 citing pricing environment in 2006. Maintained Hold rating.

Advanced Micro Devices

estimates raised at Prudential: Prudential said it is raising its 2006 estimates on AMD by 50 cents to $1.77 a share due to fundamental shift in the PC industry. Target price raised to $55. "View As A Must Own."

Advanced Micro Devices

target raised at UBS: UBS said it was raising the target on AMD from $25 to $31 on outstanding results based on share and ASP gains. Maintained Reduce 2 rating.

Chesapeake Energy

numbers raised at Morgan Stanley: Shares of CHK now seen reaching $37, according to Morgan Stanley. Estimates also raised, to reflect the company's latest acquisition. Overweight rating.

CH Robinson

estimates increased at Morgan Stanley: CHRW estimates boosted through 2007, according to Morgan Stanley. Company benefiting from scarce supply in the Truckload market. Underweight rating.

Citrix Systems

estimates, target raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimate on CTRX from $1.17 to $1.23 and target from $23 to $31 on upward guidance. Maintained Hold rating.

Citrix Systems

target price raised at CSFB: CSFB said it is raising its target price on CTXS to $36 from $32.50 based on strong product cycle potential. Maintained Outperform rating.

Citrix Systems

target raised at UBS: UBS said it was raising its price target on CTXS from $20 to $25 on increased FY 2006 EPS estimate by $0.06 to $1.21. Maintained Reduce 2 rating.

Huntington

estimates lowered at UBS: UBS said it was lowering FY 2006 and 2007 EPS estimates on HBAN from $1.80 and $1.95 to $1.77 and $1.85 on EPS estimates below expectations. Maintained Buy 2 rating and cut target by $1 to $28.

Heartland Express

estimates, target raised at UBS:UBS said it was raising FY 2006 and 2007 EPS estimates on HTLD from $0.99 and $1.15 to $1.08 and $1.21 respectively citing strong core performance. Maintained Neutral 2 rating and raised target by $1 to $23.

Humana

target raised at UBS: UBS said it was raising the target on HUM to $61 from $50 on the positive outlook for Medicare business. Maintained Neutral 2 rating.

Imclone

target raised at UBS: UBS said it was raising the target on IMCL from $40 to $43 on updated Erbitux valuation. Maintained Buy 2 rating.

Intel

estimates cut at Prudential: Prudential said it is cutting its 2006 estimates on INTC by 6 cents to $1.33 a share due to expectations for continued share loss. Maintained Underweight rating.

Nuveen

estimates boosted at Morgan Stanley: JNC estimates raised through 2006, Morgan Stanley said. Company has more growth levers than ever. Overweight rating and new $50 price target.

JP Morgan

estimates raised at Merrill Lynch: Merrill Lynch said it was raising FY 2006 EPS estimate on JPM from $3.38 to $3.46 on strong Q4 report and fundamental expectations for 2006. Maintained Buy rating and $45 target.

JP Morgan Chase

estimates raised at UBS: UBS said it was raising FY 2006 EPS estimates on JPM from $3.25 to $3.35 and target by $1 to $42 citing improved outlook. Maintained Neutral 2 rating.

Linear Technology

target raised at Jefferies: Jefferies said it was raising the target on LLTC from $35 to $37 citing in-line results and slowing revenue growth. Maintained Hold rating.

Linear Technology

target raised at Jefferies: Jefferies said it was raising the target on LLTC from $35 to $37 citing in-line results and slowing revenue growth. Maintained Hold rating.

Linear Technology

estimates raised at Morgan Stanley: Morgan Stanley said it said it is raising its estimates on LLTC for 2005 to $1.35 a share from $1.33 a share. Company beat estimates. Maintained Inline rating.

Lam Research

target price raised at CSFB: CSFB said it is raising its target price on LRCX to $42 from $33.50 after blowout F2Q and positive guidance. Maintained Neutral rating.

Lam Research

numbers raised at Morgan Stanley: LRCX estimates raised through 2007, Morgan Stanley said. Street consensus could be conservative by 30%, based on increased bookings momentum. Equal-weight rating and new $47 price target.

Lam Research

estimates, target raised at UBS: UBS said it was raising FY 2006 and 2007 EPS estimates on LRCX from $1.62 and $1.68 to $2.17 and $2.39 respectively on new equipment order upcycle. Target raised from $43 to $54. Maintained Buy rating.

McDermott Int'l

estimates, target raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimates on MDR from $2.10 to $2.85 and target by $10 to $62 on rising backlog and robust industry fundamentals. Maintained Buy rating.

Parker Hannifin

estimates, target raised at UBS: UBS said it was raising FY 2006 and 2007 EPS estimates on PH from $5.05 and $5.35 to $5.20 and $5.50 respectively on strength in aerospace and CIC. Maintained Neutral 1 rating and raised target by $3 to $72.

QLogic

outlook raised at Goldman: Goldman said it is increasing its estimates on QLGC for the full year to $1.09 a share from $1.04 a share. Maintained Inline rating.

QLogic

estimates raised at CSFB: CSFB said it is raising 2006 EPS estimates on QLGC to $1.08 from $1.02 after F3Q beat guidance. Increased target price to $42 from $36.

Rockwood Holdings

estimates raised at UBS: UBS said it was raising FY 2006 EPS estimates on ROC from $1.60 to $1.65 on recent debt refinancings and planned plant rationalizations. Maintained Buy 2 rating and target raised by $1 to $24.

Seagate

target raised at Citigroup: Citigroup said it is increasing its target price on STX to $32 a share from $22 a share following Dec. quarter results. Use consolidation as an opportunity to accumulate.

Seagate

estimates raised at CSFB: CSFB said it is raising 2006 and 2007 EPS estimates from $1.84 and $1.95 to $2.08 and $2.40 after better-than-expected F2Q06. Maintained $30 target price.

Seagate

numbers raised at Piper: Piper said it is raising its 2006 estimates on STX by 23 cents to $2.22 a share following strong quarter driven by consumer electronics and mobile drives. Target price raised to $27.

Washington Mutual

estimates cut at UBS: UBS said it was cutting FY 2006 EPS estimates on WM from $4.06 to $3.83 on mortgage volume pressure. Maintained Neutral 2 rating and target raised $2 to $43.