Analysts' Actions: A Daily Roundup of Street Research

Who made what calls.
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CHANGE IN RATINGS

Akamai

downgraded at Piper: Piper said it is downgrading AKAM to a Market Perform rating as shares are fully valued at the current quote.

Dollar Tree Stores

downgraded at Piper: Piper said it is downgrading DLTR to a Market Perform rating based on valuation. Target price remains $30.

General Dynamics

upgraded at Prudential: Prudential said it is upgrading GD to an Overweight rating as stock has lagged other defense names and valuation is attractive.

International Rectifier

coverage initiated at Goldman: Goldman said it is initiating coverage on IRF with an Inline rating. A pure play in power management.

Merck

downgraded at FBR: FBR said it is downgrading MRK to Underperform from Market Perform based on valuation and Vioxx litigation risks.

Merck

estimates raised at Morgan Stanley: Morgan Stanley said it is raising its estimates on MRK to $2.42 a share in 2007 from $2.39 a share. Target raised at $40 a share. Raising Januvia forecasts and price target.

Northeast Utilities

downgraded at Jefferies: Jefferies said it was downgrading NU from Buy to Hold, cutting FY 2007 EPS by 10-cents to $1.35 and lowering the target by $1 to $20 citing an update to their forecast model.

Novatel Wireless

downgraded at JP Morgan: JP Morgan said it is downgrading NVTL to Neutral after guidance disappoints. 4Q results were inline with estimates.

OSI Pharmaceuticals

upgraded at SunTrust Robinson Humphrey: SunTrust Robinson Humphrey said it was upgrading OSIP from Neutral to Buy on sales outlook and catalysts in 2006. Maintained $41 target.

SBA Communications

downgraded at Bear: SBAC was downgraded from Outperform to Peer Perform, Bear Stearns said. Stock is already pricing in continued growth in the wireless tower business.

Sinclair Broadcasting Group

upgraded at JP Morgan: JP Morgan said it was upgrading SBGI from Underweight to Neutral on limited downside.

Schering Plough

downgraded at Bear: SGP was downgraded from Peer Perform to Underperform, Bear Stearns said. Stock trading at a hefty premium to its $14 sum-of-the-parts valuation. Several products also facing increased competition.

Sherwin-Williams

downgraded at CSFB: CSFB said it is downgrading SHW and suspending estimates and target price after negative verdict in Rhode Island lead paint trial. Dollar amounts have not been decided yet.

United Surgical

downgraded at UBS: UBS said it is downgrading USPI to Neutral from Buy citing slower volume growth. Lowered target price to $42 from $47.

Viacom

downgraded at AG Edwards: AG Edwards said it is downgrading VIA.B to Hold citing deceleration in revenue growth. Could create a headwind for upward valuation in intermediate term.

Viacom

estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on VIA.B from $1.87 and $2.17 to $1.95 and $2.26 respectively on Q4 results. Maintained $48 target and Buy rating.

Viacom

estimates cut at Goldman: Goldman said it is lowering its estimates on VIA.B for 2006 to $1.81 a share from $1.86 a share. Maintained Outperform rating.

Viacom

estimates cut at Prudential:Prudential said it is cutting its 2006 estimates on VIA.B by 6 cents to $2.01 a share. Maintained Neutral Weight rating.

Xerium Technologies

upgraded at Baird:Baird said it was upgrading XRM from Neutral to Outperform and raising the target by $10 to $19 on improved dividend outlook.

STOCK COMMENTS / EPS CHANGES

Barrick Gold

estimates lowered at Goldman: Goldman said it is lowering its estimates on ABX for the full year to 54-cents a share from 62-cents a share. Weaker than expected fourth-quarter results cap a strong year.

Automatic Data

estimates cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on ADP fro 2007 to $2.25 a share from $2.27 a share. Maintained Overweight rating.

Arrow Electronics

estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on ARW for the full year to $2.65 a share from $2.52 a share. Acquired growth offsets stalled upcycle.

Berry Petroleum

estimates cut at Jefferies:Jefferies said it was cutting FY 2006 EPS estimates on BRY from $6.13 to $5.14 on Q4 results. Maintained $81 target and Buy rating.

Campbell Soup

target price raised at UBS: UBS said it is raising its target price on CPB to $34 from $32. Cites future growth opportunities. Maintained Neutral rating.

Salesforce.com

estimates cut at Goldman: Goldman said it is lowering its estimates on CRM for the full year to a loss of 3-cents a share from a 9-cent profit. Inline quarter for a stock with high expectations.

Salesforce.com

target lowered at Jefferies: Jefferies said it was raising FY 2007 EPS estimate on CRM by a penny to $0.24 but lowering the target by $2 to $31 on Q4 results and weak guidance. Maintained Hold rating.

Salesforce.com

estimates lowered at UBS: UBS said it is lowering its 2007 EPS estimates on CRM to 2 cents from 10 cents after less than stellar outlook. Maintained Reduce rating.

CenturyTel

estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on CTL for 2006 to $2.50 a share from $2.32 a share, citing an aggressive buyback. Maintained Overweight rating. Target raised to $41 a share.

DirecTV

estimates cut at Goldman: Goldman said it is lowering its estimates on DTV for 2006 to 80-cents a share from 82-cents a share. Maintained Overweight rating.

eFunds

target raised at Jefferies: Jefferies said it was lowering FY 2006 EPS estimates on EFD by 6-cents to $1.20 but raising the target by $5 to $32 on Q4 results indicating margin expansion and upwardly revised 2006 guidance. Maintained Buy rating.

Henry Schein

estimates lowered at Morgan Stanley: Morgan Stanley said it is lowering its estimates HSIC for 2006 by a penny to $2.23 a share. Textbook fourth quarter, and full speed ahead in 2006.

Inco

estimates raised at Prudential: Prudential said it is raising its 2006 estimates on N by $1.39 to $3.73 a share to reflect higher nickel and precious metals byproduct prices. Maintained Underweight rating.

Oceaneering International

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on OII from $2.85 and $3.15 to $3.10 and $3.35 and raising the target raised by $3 to $70 on Q4 results. Maintained Buy rating.

OfficeMax

estimates raised at Goldman: Goldman said its estimates on OMX for the full year to $1.15 a share from 85-cents a share. Most attractive opportunity in hardlines.

Pepsi

target price raised at CSFB: CSFB said it is raising its target price on PEP to $66 from $63. Believes recent profit growth can be maintained. Reiterate Outperform rating.

PRA International

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on PRAI by 2-cents to $1.39 and $1.64 respectively and target by $1 to $28 on Q4 results. Maintained Hold rating.

Ritchie Bros.

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on RBA from $1.56 and $1.77 to $1.62 and $1.90 respectively and target by $4 to $47 on Q4 results above consensus. Maintained Hold rating.

Sprint Nextel

estimates raised at Goldman: Goldman said it is increasing its estimates on S for the full year to $1.64 from $1.62. Fourth quarter results as expected. 2006 guidance is conservative.