Analysts' Actions: A Daily Roundup of Street Research

Who made what calls.
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CHANGE IN RATINGS

Applied Materials

upgraded at BofA: AMAT was upgraded from Sell to Neutral, Banc of America said. $21 price target. 2006 estimates also raised, to reflect a recent surge in NAND flash orders.

Applied Materials

estimates raised at CSFB: CSFB said it is raising its 2006 EPS estimates on AMAT to 80 cents from 63 cents. Expects gross and operating margin expansion. Maintained $16.50 target price.

Bausch & Lomb

upgraded at Oppenheimer: Oppenheimer said it is upgrading BOL to Buy from Neutral. Believes shares are attractive on a valuation basis. Raised target price to $80.

Copa Holdings

coverage initiated at Goldman: Goldman said it is initiating coverage on CPA with an Inline rating in the context of a neutral coverage view.

Cisco

upgraded at Baird: CSCO was upgraded from Neutral to Outperform, Robert Baird said. $23 price target. Company is carrying strong momentum into the new few quarters.

Cisco

upgraded at Oppenheimer:CSCO was upgraded from Neutral to Buy, Oppenheimer said. $22 price target. Company reported a strong quarter, and guided toward higher orders for the remainder of 2006. Estimates also raised.

Cisco

outlook cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on CSCO for the full year to 89-cents a share from 92-cents a share. Results beat guidance.

Cisco

outlook raised at UBS: UBS said it is raising its 2006 EPS estimates on CSCO to 93 cents from 89 cents. Sees positive momentum heading into 2H 2006. Raised target price by 50 cents to $21.50.

Cisco

estimates raised at Prudential: Prudential said it is raising its 2007 estimates on CSCO by a penny to $1.32 a share due to strong order growth. Maintained Overweight rating.

Dell

upgraded at Bernstein: Bernstein said that it is upgrading DELL to Outperform from market perform. Valuation is compelling. Maintained target price of $36.

FMR Corp.

upgraded at CSFB: CSFB said it is raising its rating on FMC to Neutral after 4Q earnings beat estimates. Sets new target price at $69.

General Motors

downgraded at Deutsche Bank: Deutsche Bank said it is lowering its rating on GM to Sell from Hold. Near term events will be overshadowed by UAW.

Intel

downgraded at Think Equity Partners: Think Equity Partners said it was downgrading INTC from Buy to Accumulate and cutting the target on INTC by $1 to $26 on slippage of true dual core by 6 - 8 weeks. FY 2006 and 2007 EPS estimates lowered by $0.04 and $0.05 to $1.24 and $1.45 respectively.

Serius

upgraded at Bernstein: Bernstein said that it is upgrading SIRI to Outperform. Believes recent sell-off is overdone, expects company to beat guidance. Maintained $8 target price.

Time Warner Telecom

upgraded at CIBC: CIBC said that it is upgrading TWTC to Sector Outperform. Believes asset and operation leverage is sustainable. Maintained target price of $17.

Vertex Pharmaceuticals

downgraded at Bear Stearns: Bear Stearns said it is downgrading VRTX to Peer Perform from Outperform on valuation. Stock eclipsed target price of $35.

Vishay Intertechnology

downgraded at CSFB: CSFB said it is lowering its rating on VSH to Neutral. Sees limited upside at current levels. Sets new target price at $16.

STOCK COMMENTS / EPS CHANGES

Alcan

outlook cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on AL for 2006 to $2.8 a share from $3 a share. Maintained Equalweight rating.

Alkermes

outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on ALKS for the full year to 8-cents a share from 5-cents a share. Vivitrol on track for second quarter approval.

Allegheny Energy

target price raised at CSFB: CSFB said it is raising its target price on AYE to $41. Cites good earnings visibility and strong free cash flow. Maintained Outperform rating.

Barr Pharma.

outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on BRL for the full year to $3.20 a share from $3.17 a share. Target raised to $75 a share from $70 a share. Maintained Overweight rating.

Boston Scientific

outlook cut at Goldman: Goldman said it is lowering its estimates on BSX for the full year to $1.80 a share from $1.85 a share. Lack of controversy in the fourth quarter.

Boston Scientific

estimates lowered at UBS: UBS said it is lowering its 2006 EPS estimates on BSX by 9 cents to $1.83 to account for share-based comp. Fourth quarter results were inline. Maintained Buy rating.

Boston Scientific

estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 and 2007 EPS estimates on $1.91 and $2.06 to $1.85 and $2.03 on Q4 results. Maintained Buy rating and $34 target.

Cheesecake Factory

outlook cut at Goldman: Goldman said it is lowering its estimates on CAKE for the full year to $1.16 a share from $1.17 a share. Good start to 2006 sales. Maintained Outperform rating.

Cincinnati Bell

outlook cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on CBB for the full year to 19-cents a share from 21-cents a share. 2006 free cash flow guidance a focus.

Computer Sciences

outlook raised at Morgan Stanley: Morgan Stanley said it is raising its estimates on CSC for the full year to $3.30 a share from $3.27 a share. Bookings continue to deteriorate, raising growth concerns.

Computer Sciences

estimates lowered at UBS: UBS said it is lowering its 2006 EPS estimates on CSC by 4 cents to $3.30 after mixed F3Q results. Maintained Neutral rating.

Computer Sciences

estimates raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimates on CSC by $0.02 to $3.30 on Q4 results. Maintained Buy rating and $65 target.

Computer Sciences

estimates raised at Prudential: Prudential said it is raising its 2006 estimates on CSC by 4 cents to $3.30 a share. Maintained Neutral Weight rating.

Energy East

target lowered at Jefferies: Jefferies said it was lowering the target on EAS by $1 to $24 on NY PSC recommendation of cut in NYSEG electric rates. Maintained Hold rating.

ICOS

target, estimates cut at UBS: UBS said it was cutting FY 2006 and 2007 EPS estimates on ICOS from $0.30 and $0.61 to $-0.16 and $0.21 respectively and target from $38 to $33 on Q4 results and light revenue guidance. Maintained Buy rating.

LifePoint Hospitals

estimates lowered at Jefferies:Jefferies said it was lowering FY 2006 EPS estimates on LPNT by 2-cents to $2.31 on Q4 results. Maintained Hold rating and $30 target.

Nabors

estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on NBR from $6.38 and $8.12 to $6.51 and $8.50 respectively on strong Q4 results. Maintained Buy rating and $95 target.

Perot Systems

estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 EPS estimates on PER by 2-cents to $0.96 on Q4 results. Maintained Buy rating and $21 target.

Regal Ent.

estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 EPS estimates on RGC by $0.08 to $0.75 on Q4 results and forecast of modest growth in 2006. Maintained Hold rating and $19.75 target.

Ralph Lauren

outlook cut at Goldman: Goldman said it is lowering its estimates on RL for the full year to $2.73 a share from $2.79 a share. Guidance concerns are overdone. Maintained Inline rating.

Ralph Lauren

estimates lowered at CSFB: CSFB said it is lowering 2006 EPS estimates on RL to $2.85 from $2.95 but sees multiple opportunities ahead. Maintained $60 target price.

Under Armour

outlook lowered at CSFB: CSFB said it is lowering 2006 EPS estimates on UARM to 46 cents from 50 cents after 4Q earnings were a little light. Lowered target price to $27 from $32.

Under Armour

estimates cut at Piper: Piper said it is cutting its 2006 estimates on UARM by 2 cents to 51 cents a share due to increased expenses. Maintained Market Perform rating.

Ultra Petroleum

estimates raised at UBS: UBS said it is raising its 2006 EPS estimates on UPL by 5 cents to $3.95 after solid 4Q results. Maintained Buy rating.

Urban

outlook raised at Goldman: Goldman said it is lowering its estimates on URBN for the full year to 73-cents a share from 76 cents a share. Concerns about spring cited in the note. Maintained Inline rating.

Vertex

raised at Goldman: Goldman said it is increasing its estimates on VRTX for a loss of $2.06 a share from a loss of $2.21 a share. Pipeline steadily advancing. Maintained Inline rating.

Vertex

outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on VRTX for the full year to a loss of $1.96 a share from $1.94 a share. Maintained Equalweight rating.

Yum! Brands

estimates increased at Goldman: Goldman said it is increasing its estimates on YUM for the full year to $2.81 a share from $2.79 a share despite fourth quarter noise. Maintained Inline rating.

Yum! Brands

estimates cut at Piper: Piper said it is cutting its 2006 estimates on YUM to $2.79 a share to reflect options expensing. Maintained Market Perform rating.