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Analysts' Actions: A Daily Roundup of Street Research

Who made what calls.
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CHANGE IN RATINGS

Agrium

upgraded at CIBC: CIBC said it is upgrading AGU to Sector Outperform after announcement of acquisition. Sets $30 target price.

Expedia

downgraded at CSFB: CSFB said it is lowering its rating on EXPE to Underperform from Neutral. Sees difficult road in 2006. Reduced target price to $22.

Greenhill & Co.

upgraded at Wachovia: Wachovia said it is upgrading GHL to Outperform. Sees cyclical recovery in the merger market. Valuation range between $64 and $66.

Infrasource

upgraded at Friedman, Billings: IFS was upgraded from Market Perform to Outperform, Friedman, Billings Ramsey said. Company to benefit from rebuilding the electric transmission grid. $19 price target.

Leap Wireless

coverage initiated at Merrill: Merrill said it is initiating coverage on LEAP with a Sell opinion. Stock trades at a premium to peers.

McAfee

upgraded at Deutsche:MFE was upgraded from Hold to Buy, Deutsche Bank said. $30 price target. Stock is already pricing in potential competition from MSFT.

McAfee

estimates cut at Prudential: Prudential said it is cutting its 2006 estimates on MFE by 7 cents to $1.27 a share due to weak 2006 guidance. Maintained Neutral Weight rating.

McAfee

estimates lowered at CSFB: CSFB said it is lowering its 2006 EPS estimates on MFE to $1.13 from $1.32 after Q4 results. At this level, sees shares cheap. Maintained $37.50 target price.

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National Financial Partners

upgraded at Merrill:Merrill said it is increasing its rating on NFP to Neutral as it no longer expects same stores sales disappointment in the fourth quarter.

Quanta Services

upgraded at Friedman, Billings: PWR was upgraded from Underperform to Market Perform, Friedman, Billings, Ramsey said. Stock has been lagging its peers, but has a significant presence in the high-voltage transmission market. $13.75 price target.

Quality Systems

upgraded at Piper: Piper said it is upgrading QSII to an Outperform rating as earnings miss presents a buying opportunity. Miss was due to contract timing.

Synovus Financial

upgraded at SunTrust: SunTrust Robinson Humphrey said it was upgrading SNV from Neutral to Buy with a target of $32 citing meeting with company executives.

Theravance

upgraded at Morgan Stanley: Morgan Stanley said it is lowering its rating on THRX to Equalweight from Overweight. Still like the story but taking a breather.

ViroPharma

coverage initiated at Goldman: Goldman said it is initiating coverage on VPHM with an Inline rating.

Wabash National

downgraded at Bear Stearns: Bear Stearns said it was downgrading WNC to Peer Perform on valuation.

STOCK COMMENTS / EPS CHANGES

Alcon

estimates lowered at Morgan Stanley: Morgan Stanley said it is lowering its estimates on ACL for the full year to $4.32 a share from $4.60 a share. Maintained Equalweight rating.

Analog Devices

estimates raised at Piper: Piper said it is raising its 2006 estimates on ADI by 4 cents to $1.69 a share due to improved guidance. Maintained Underperform rating.

Analog Devices

estimates raised at CSFB: CSFB said it is raising its 2006 EPS estimates on ADI by 2 cents to $1.47. Maintained Outperform rating.

Analog Devices

outlook cut at Morgan Stanley: Morgan Stanley said it is raising its estimates on ADI for 2006 to $1.57 a share from $1.58 a share. Enters operating margin "sweet spot."

Aetna

estimates boosted at UBS: UBS said it is increasing its estimates on AET for 2006 to $5.54 a share from $5.40 a share. Target raised to $123 a share. Commercial momentum and low Medicare advantage exposure cited in the note.

Amylin

estimates cut at Piper: Piper said it is cutting its 2006 estimates to a loss of $1.88 a share to reflect higher expenses in near-term.

AutoNation

estimates cut at Goldman: Goldman said it is lowering its estimates on AN for 2006 to $1.50 a share from $1.56 a share. Maintained Inline rating.

AutoNation

outlook cut at Goldman: Goldman said it is lowering its estimates on AN for the full year to $1.50 a share from $1.56 a share. Maintained Inline rating.

Best Buy

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimates on BBY by $0.11 to $2.53 and target from $42.50 to $51 on raised guidance. Maintained Hold rating.

Best Buy

outlook lowered at Morgan Stanley:Morgan Stanley said it is lowering its estimates on BBY for the full year to $1.95 a share from $2.08 a share. Maintained Equalweight rating.

BorgWarner

estimates cut at Goldman: Goldman said it is lowering its estimates on BWA for the full year to $4.45 a share from $5 a share. Results were largely inline but they foreshadow 2006 operating challenges.

Boyd Gaming

outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on BYD for the full year to $2.61 a share from $2.55 a share. Investors are still burdened by longer-term fears over Echelon and in a perceived oversupplied Las Vegas and the Pokagon casino opening's impact on Boyd's blue chip property in 2007 and 2008.

Cognizant

target raised at Morgan Stanley: Morgan Stanley said it is increasing its target on CTSH for to $65 a share to $56 a share on favorable margin outlook. Strong foundation for 2006.

Corrections Corp. of America

estimates raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimates on CXW by 5-cents to $2.10 on guidance and new prison. Maintained Buy rating and $52 target.

Cytec

estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 EPS on CYT by $0.15 to $3.60 on Q4 results. Maintained Buy rating and $55 target.

DRS Tech.

estimates raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimates on DRS by 2-cents to $2.62 on strong fiscal Q3 results. Maintained Buy rating and $56 target.

EarthLink

estimates lowered at Goldman: Goldman said it is lowering its estimates on ELNK for the full year to 73-cents a share from 95-cents a share. Continue to expect significant investment in 2006.

Endurance Specialty Holdings

estimates cut at Goldman: Goldman said it is reducing its 2006 EPS estimate on ENH to $5.10 a share from $5.60 a share. A conservative 2006 outlook and upward catastrophe revisions unnecessarily weigh on shares.

St. Joe

outlook lowered at Morgan Stanley: Morgan Stanley said it is lowering its estimates on JOE for the full year to $2.52 a share from $2.92 a share. Fourth quarter confirms slowing residential market.

Noble Energy

estimates raised at Morgan Stanley: Morgan Stanley said it is raising its estimates on NBL for the full year to $4.46 a share from $4.14 a share. The company announced the acquisition of USE, a private E&P company, for $411 million.

NRG

estimates lowered at Goldman:Goldman said it is lowering its estimates on NRG for 2006 to $1.68 a share from $1.69 a share. Maintained Outperform rating.

Oracle

estimates raised at Jefferies: Jefferies said it was raising FY 2007 EPS estimates on ORCL from $0.89 to $0.97 on a stronger outlook in revised guidance. Maintained Buy rating and $16 target.

Oracle

estimates cut at Prudential: Prudential said it is cutting its 2006 estimates on ORCL by a penny to 77 cents a share. Maintained Neutral Weight rating.

Oracle

outlook lowered at UBS: UBS said it is lowering its estimates on ORCL for the full year to 72-cents a share from 74 cents a share. The company updated guidance for Siebel acquisition.

Pharmaceutical Product Dev.

numbers raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on PPDI from $2.69 and $3.09 to $2.76 and $3.20 respectively and target by $6 to $73 on backlog supporting continued growth. Maintained Buy rating.

SFBC

outlook lowered at UBS: UBS said it is lowering its estimates on SFCC for the full year to $1.62 a share from $1.64 a share. Field checks increase our confidence in turnaround.

Swift Transportation

outlook raised at UBS: UBS said it is increasing its target price on SWFT to $26 a share from $25 a share following its investor meeting.

Molson Coors

outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on TAP for the full year to $4.17 a share from $3.64 a share. Maintained Underweight rating.