Analysts' Actions: A Daily Roundup of Street Research

Who made what calls.
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CHANGE IN RATINGS

Armor Holdings

upgraded at Wachovia: AH was upgraded from Market Perform to Outperform, Wachovia said. Estimates also raised, and the company should see increased business in the new budget plans. Strong balance sheet also supports growth through acquisitions.

Gap

upgraded at Deutsche Bank: Deutsche Bank said it is upgrading GPS to Buy from Hold. Says initiatives are starting to show results. Raised target price to $21 from $18.

Gap

upgraded at Deutsche Bank: Deutsche Bank said it was upgrading GPS from Hold to Buy and raising the target by $3 to $21 on improved products and execution.

Oakley

upgraded at Lehman: OO was upgraded from Underweight to Equal-weight, Lehman Bros. said. Recent meeting with management suggests the company will focus on the high-margin optics business.

Protective Life

downgraded to Neutral: UBS said it is downgrading PL to Neutral from Buy based on valuation. Maintained $54 target price.

Redback

Networks downgraded at CIBC: CIBC said it was downgrading RBAK from Sector Outperformer to Sector Performer on valuation.

Robert Half

downgraded at Wachovia: Wachovia said it is downgrading RHI to Underperform from Outperform citing concerns over international expansion. Values shares between $29 and $31.

Viacom

downgraded at AG Edwards: VIA.B was downgraded to Hold, AG Edwards said. Earnings should be solid, though sales growth is declining.

STOCK COMMENTS / EPS CHANGES

Beckman Coulter

estimates lowered at UBS: UBS said it is lowering its 2006 EPS estimates on BEC to $2.79 from $3.06 after lower than expected 4Q results. Maintained Buy rating.

Beckman Coulter

estimates cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on BEC for 2006 to $3.01 a share from $3.06 a share. Maintained Equalweight rating.

Baker Hughes

estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its target on BHI for the full year to $89 a share from $83 a share. Maintained Equalweight rating.

Caremark

estimates raised at Morgan Stanley: Morgan Stanley said it is raising its estimates on CMX for the full year to $2.73 a share from $2.71 a share. Maintained Equalweight rating.

Cognos

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on COGN from $1.26 and $1.45 to $1.28 and $1.52 respectively and target from $32 to $36.50 on expectation of Q4 upside. Maintained Hold rating.

DaVita

target raised at Jefferies: Jefferies said it was lowering FY 2006 EPS estimate by 5-cents to $2.40 and raising the target by $5 to $50 on raised guidance. Maintained Hold rating.

Huntsman

estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on HUN from $2.90 and $2.30 to $2.95 and $2.47 respectively on acquisition of Ciba's Textile Effects. Maintained Hold rating and $19.50 target.

Isle of Capri Casinos

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on ISLE from $0.58 and $1.38 to $1.07 and $1.95 and target by $2 to $37.75 on strong quarterly results. Maintained Buy rating.

Kellogg

estimates raised at Goldman: Goldman said it is increasing its estimates on K for the full year to $2.51 a share from $2.49 a share. Maintained Outperform rating.

Mylan

estimates lowered at Goldman: Goldman said it is lowering its estimates on MYL for the full year to 84-cents a share from 85 cents a share. Upcoming management meeting to highlight 2006 opportunity. Maintained Outperform rating.

PG&E

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on PCG by 5-cents to $2.45 and $2.65 respectively and raising the target by $1.50 to $39 on Q4 results. Maintained Hold rating.

Psychiatric Solutions

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimates on PSYS by 5-cents to $1.05 and target by $12 to $36 on Q4 results. Maintained Hold rating.

RadioShack

estimates cut at Prudential:Prudential said it is cutting its 2006 estimates on RSH by 38 cents to $1.37 a share following disappointing Q4 results and exit of CEO. Maintained Overweight rating.

RadioShack

target, estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 EPS estimates on RSH from $1.72 to $1.25 and cutting the target from $23.50 to $19 on disappointing Q4 operating results. Maintained Hold rating.

Sirius

estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on SIRI for 2005 to a loss of 85-cents a share from a loss of 90-cents a share. Maintained Overweight rating.