CHANGE IN RATINGS

Eli Lilly

downgraded at Merrill Lynch: Merrill Lynch said it was downgrading LLY from Buy to Neutral on uncertainty in product news flow and risk/reward scenario.

Eli Lilly

downgraded at Friedman, Billings, Ramsey & Co.: Friedman, Billings, Ramsey & Co. said it was downgrading LLY from Market Perform to Underperform on decelerating growth. Maintained $53 target.

Manitowoc

upgraded at Deutsche Bank: Deutsche Bank said it is raising its rating on MTW to Buy. DCF valuation of $80 puts too much emphasis on a cyclical crane downturn that is unlikely to materialize until beyond 2009.

Aramark

downgraded at Morgan Stanley: Morgan Stanley said it is lowering its rating on RMK to Equalweight from Overweight, based on valuation.

SiRF

downgraded at Morgan Stanley: Morgan Stanley said it is lowering its rating on SIRF to Underweight from Equalweight. The estimates are getting harder to achieve.

US Steel

upgraded at CIBC: Rating on X was boosted from Underperform to Sector Perform, CIBC said. Estimates also raised to reflect recent price increases. New $64 price target.

STOCK COMMENTS / EPS CHANGES

Advanced America

estimates cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on AEA for the full year to 88 cents a share from 94 cents a share. Remains Overweight citing risk/return that is still attractive.

Allergan

estimates cut at Goldman: Goldman said it is lowering its AGN estimates post 2006 guidance on the earnings calls. Maintained Inline rating.

Best Buy

target price raised at CSFB: CSFB said it is raising its target price on BBY to $59. Sees renewed focus on expenses to go with strong product cycle and growth drivers. Maintained Neutral rating.

DirecTV Group

estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on DTV for the full year to 88 cents a share from 80 cents a share.

eBay

estimates cut at Goldman: Goldman said it is lowering its estimates on EBAY for the full year to $1.03 a share from $1.04 a share. Maintained Outperform rating.

Global Payments

estimates lowered at CSFB: CSFB said it is lowering 2007 EPS estimates on GPN by 5 cents to $1.58. Sees potential slowing growth. Maintained Neutral rating.

Hilton Hotels

made top large cap pick at Deutsche Bank: Deutsche Bank said it has selected HLT as their top large cap pick, raising their target by $4 to $32 citing operating leverage and recent non-core asset sales. Maintained Buy rating.

j2 Global Comm.

estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 and 2007 EPS estimates on JCOM from $2.45 and $3.02 to $2.35 and $2.89 respectively following the filing of its 10-k last night. Maintained Buy rating and $51 target.

j2 Global Comm.

estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 and 2007 EPS estimates on JCOM from $2.45 and $3.02 to $2.35 and $2.89 respectively following the filing of its 10-k last night. Maintained Buy rating and $51 target.

Jones Apparel Group

target price raised at CSFB: CSFB said it is raising its target price on JNY to $38 from $30 after applying LBO model. Maintained Neutral rating.

Las Vegas Sands

outlook cut at Goldman: Goldman said it is lowering its estimates on LVS for 2007 to $1.85 a share from $2.35 a share. Remains one of its favorite names. Maintained Outperform rating.

Under Armour

estimates cut at Goldman:Goldman said it is lowering its estimates on UARM for the full year to 50-cents a share from 53 cents a share. Maintained Inline rating.

Walgreens

outlook lowered at Morgan Stanley: Morgan Stanley said it is lowering its estimates on WAG for the full year 2006 to $1.71 a share from $1.72 a share. Maintained Overweight rating.