Analysts' Actions: A Daily Roundup of Street Research

Who made what calls.
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CHANGE IN RATINGS

BlueLinx

downgraded at Morgan Stanley: Morgan Stanley said it is lowering its rating on BXC to Equalweight from Overweight with a $15 target price.

CBS

coverage initiated at Prudential: Prudential said it is initiating coverage on CBS with an Overweight rating and $30 target price. Valuation is compelling and expectations are achievable.

Cyberonics

downgraded at AG Edwards: CYBX was downgraded to Hold, AG Edwards said. Recent comments in Senate could affect Medicare reimbursement decision for the company's depression treatment.

El Paso

upgraded at Morgan Stanley: Morgan Stanley said it is increasing its rating on EP to Equalweight with a $15 target price. Should the stock pull back to $12 a share, it would revisit its rating again.

Patterson-UTI Energy

downgraded at CSFB: CSFB said it is downgrading PTEN to Neural from Outperform. Cites growing concern that gas inventory overhang will lead to further deterioration in US natural gas prices. Lowered price target to $37 from $46.

Trex

upgraded at SunTrust: SunTrust Robinson Humphrey said it is increasing its rating on TWP to Buy as it believes the stock and estimates find bottom here.

UAL Corp.

upgraded at Prudential: Prudential said it is upgrading UAUA to an Overweight rating as stock should perform well in an improving airline environment. Target price raised to $43.

Valassis Communications

downgraded at Deutsche Bank: Deutsche Bank said it is lowering its rating on VCI to Hold. Target cut to $32 a share from $37 a share. 2008 is too distant to value the FSI turnaround.

WebEx

upgraded at CIBC: CIBC said it is upgrading WEBX to a Sector Outperformer due to solid operating momentum.

STOCK COMMENTS / EPS CHANGES

Advance Auto Parts

estimates cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on AAP for 2006 to $2.27 a share from $2.36 a share. Maintained Equalweight rating.

Baker Hughes

estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on BHI from $3.40 and $4 to $3.55 and $4.05 respectively on Q4 results. Maintained Buy rating.

Celanese

outlook raised at UBS: UBS said it is raising 2006 EPS estimates on CE by 5 cents to $2.60 after positive 4Q results. Raised target price to $21 from $20.

Career Education

estimates cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on CECO for the full year to $2.41 a share from $2.48 a share. Maintained Overweight rating.

Dell

estimates cut at Prudential: Prudential said it is cutting its 2007 estimates on DELL by a penny to $1.68 a share due to disappointing guidance. Maintained Overweight rating.

Dell

outlook lowered at UBS: UBS said it is lowering 2007 EPS on DELL to $1.62 from $1.75 after 4Q results. Lowered target price to $32 from $33.

Dell

estimates raised at CSFB: CSFB said it is raising its 2006 EPS estimates by 7 cents to $1.68 after better-than-expected 4Q results. Maintained $35 target price.

Dell

estimates cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on DELL for the full year by a penny to $2.05 a share from $2.06 a share. Maintained Overweight rating.

Forest Oil

estimates cut at Jefferies: Jefferies said it was cutting FY 2006 and 2007 EPS from $2.78 and $2.53 to $2.44 and $1.75 respectively on Q4 results. Maintained $62 target and Buy rating.

Genzyme

target, estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 and 2007 EPS estimates on GENZ from $2.86 and $3.44 to $2.76 and $3.21 respectively and cutting the target by $2 to $81 on Q4 results and 2006 guidance. Maintained Buy rating.

Global Industries

estimates cut at Jefferies: Jefferies said it was cutting FY 2006 EPS estimates on GLBL by 15-cents to $0.65 and raising the target by $2 to $17 on weak Q4 results. Maintained Buy rating.

Intel

estimates cut at Jefferies: Jefferies said it was cutting FY 2006 EPS estimates on INTC from $1.29 to $1.16 on dual core processor price cuts. Maintained Buy rating and $25 target.

Intuit

estimates cut at Prudential: Prudential said it is cutting its 2006 estimates on INTU by 2 cents to $2.04 a share after the company cut guidance. Maintained Underweight rating.

J.C. Penney

target raised at Morgan Stanley: Morgan Stanley said it is increasing its target on JCP for the full year to $66 a share from $60 a share. Maintained Overweight rating.

Laboratory Corp.

estimates raised at UBS: UBS said it is raising 2006 EPS estimates on LH by 4 cents to $3.09 after 4Q results. Maintained Neutral rating.

Laboratory Corp. of America

target raised at Jefferies: Jefferies said it was lowering FY 2006 and 2007 EPS estimates on LH from $3.12 and $3.46 to $3.09 and $3.42 respectively and raising the target by $6 to $56 on Q4 upside and positive 2006 guidance. Maintained Hold rating.

NPS Pharma.

estimates cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on NPSP for the full year to a loss of $3.23 a share from a loss of $2.85 a share. Maintained Underweight rating.

Nvidia

outlook raised at UBS: UBS said it is raising 2007 EPS on NVDA by 7 cents to $2.04 after solid 4Q and positive guidance. Raised target price to $55 from $49.

Nvidia

estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on NVDA for the full year to $1.73 a share from $1.71 a share. Target raised to $57 a share from $50 a share. Maintained Overweight rating.

Oregon Steel

target price raised at UBS: UBS said it is raising its target price on OS to $37 from $33 to reflect better expected plate stability. Maintained Neutral rating.

Progress Energy

target lowered at Jefferies: Jefferies said it was lowering the target on PGN by $1 to $44 on long-term earnings pressures. Maintained Hold rating.

Pulte Homes

estimates lowered at UBS: UBS said it is lowering its 2006 EPS estimates on PHM by 10 cents to $6.60 to reflect difficult operating environment. Maintained Buy rating.

PNC Financial Services

estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on PNC for the full year to $5.85 a share from $5.52 a share. Target raised to $76 a share from $73 a share.

Praxair

target raised at Morgan Stanley: Morgan Stanley said it is increasing its target price on PX to $62 a share from $55 a share. The company has the right mix. Maintained Overweight rating.

Reliance Steel

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 EPS by $2.20 to $7.30 and raising the target by $9 to $87 on Q4 results and favorable operating environment in 2006. Maintained Hold rating.

Silicon Image

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimate from $0.41 to $0.64 and target by $1 to $11 on positive Q4 results. Maintained Hold rating.

Target

estimates raised at Piper: Piper said it is raising its 2007 estimates on TGT by a penny to $3.11 a share. Maintained Outperform rating.

Watson Pharmaceuticals

estimates lowered at UBS: UBS said it is lowering 2006 EPS on WPI to $1.35 from $1.62 after adjustments and relatively uninspiring outlook. Maintained Reduce rating.

Watson Pharmaceuticals

estimates lowered at CSFB: CSFB said it is lowering 2006 EPS on WPI by 3 cents to $1.43 after 4Q results were lower than forecasts. Maintained Outperform rating.