Analysts' Actions: A Daily Roundup of Street Research

Who made what calls.
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CHANGE IN RATINGS

Alliance Data

upgraded at CSFB: CSFB said it is upgrading ADS to Neutral from Underperform following strong 1Q results led by higher credit trends. Raised target price to $47.

Allstate

upgraded at Freidman, Billings, Ramsey: FBR said it is upgrading ALL to Outperform from Market Perform based on continued strong profitability in auto lines. Raised target price to $67.

Comerica

downgraded at Oppenheimer: CMA was downgraded from Buy to Neutral, Oppenheimer said. Estimates also cut, as the company's net interest margin continues to shrink.

Citrix Systems

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on CTXS from $1.23 and $1.42 to $1.36 and $1.59 respectively and raising the target from $31 to $40 on Q1 results. Maintained Hold rating.

Citrix Systems

upgraded at UBS: UBS said it is upgrading CTXS to Neutral from Reduce after strong 1Q results and positive guidance. Raised target price to $41 from $27.

DRS Tech

upgraded at CIBC: DRS was upgraded from Sector Perform to Outperform, CIBC said. Valuation is reasonable, and the company's fundamentals are improving across the board. $65 price target.

eBay

downgraded at RBC: Rating on EBAY was cut from Outperform to Sector Perform, RBC Capital said. Management reported an in-line quarter, but selling prices are falling and the company lacks near-term catalysts.

Juniper Networks

downgraded at Oppenheimer: Oppenheimer said it is downgrading JNPR to Neutral from Buy based on lower expectations for 2006. First quarter results were on the low end of estimates.

Linear Technology

downgraded at Friedman, Billings, Ramsey & Co.: Friedman, Billings, Ramsey & Co. said it was downgrading LLTC from Outperform to Market Perform on muted top line growth. Target price cut from $41 to $38.

MoneyGram

upgraded at Jefferies: Jefferies said it was upgrading MGI from Hold to Buy, raising FY 2006 and 2007 EPS estimates from $1.27 and $1.45 to $1.43 and $1.55 and raising the target from $27 to $38 on Q1 results and higher guidance.

Michaels Stores

downgraded at Wachovia: MIK was downgraded from Outperform to Market Perform, Wachovia said. Even if the company receives an LBO bid, upside potential will likely be capped at $41 a share in the near term.

Radian Group

upgraded at Friedman, Billings, Ramsey & Co.: Friedman, Billings, Ramsey & Co. said it was upgrading RDN from Market Perform to Outperform and raising the target from $61 to $72 on Q1 results.

Swift Transportation

upgraded at BB&T: SWFT was upgraded to Buy, BB&T Capital said. Company posted a strong quarter, despite several fundamental headwinds. New system should boost earnings amid the business turnaround. $40 price target.

UnionBanCal

downgraded at Friedman, Billings, Ramsey: FBR said it is downgrading UB to Market Perform following competitors declines in title and escrow deposits. Reduced price target to $74 from $77.

Valspar

upgraded at JP Morgan: VAL was upgraded from Neutral to Overweight, JP Morgan said. Company generating solid cash flow, and will likely reduce its debt by the end of the year.

STOCK COMMENTS / EPS CHANGES

Apple

estimates cut at Prudential: Prudential said it is cutting its 2006 estimates on AAPL by a nickel to $2.00 a share to reflect guidance. Maintained Neutral Weight rating.

Apple

outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on AAPL for the full year to $2.05 a share from $2.03 a share. Maintained Overweight rating and $90 target price.

Apple

target price lowered at UBS: UBS said it is lowering its target price on AAPL to $90 from $95 following mixed 2Q results. Maintained Buy rating.

Apache

estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 from $7.06 to $6.45 on Gulf of Mexico Shelf properties from BP. Maintained Hold rating and $67 target.

Apache

target raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on APA for the full year to $90 a share from $88 a share. Maintained Overweight rating.

Amphenol

estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on APH to $2.83 a share from $2.67 a share. Maintained Equalweight rating.

American Standard

target raised at Morgan Stanley: Morgan Stanley said it is increasing its target on ASD to $50 a share from $49 a share. Maintained Equalweight rating.

Aztar

target raised at Jefferies: Jefferies said it was cutting FY 2006 and 2007 EPS estimates from $1.86 and $2.16 to $1.76 and $2.03 but raising the target from $38 to $44.50 following Q1 results. Maintained Hold rating.

BlackRock

outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on BLK for the full year to $5.60 a share from $5.21 a share. Maintained Underweight rating.

Cubist Pharm.

estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 and 2007 EPS estimates on CBST from $-0.07 and $0.76 to $-0.12 and $0.73 respectively on in-line Q1 Cubicin sales. Maintained Buy rating and $30 target.

CIT Group

outlook raised at UBS: UBS said it is raising its 2006 EPS estimates on CIT to $4.74 from $4.72 following strong 1Q results led by credit performance. Raised target price to $57 from $55.

eBay

estimates cut at Jefferies: Jefferies said it was cutting FY 2006 and 2007 EPS estimates on EBAY from $1.02 and $1.38 to $0.99 and $1.31 on conservative guidance with Q1 results. Maintained Buy rating and $50 target.

eBay

estimates cut at Prudential: Prudential said it is cutting its 2006 estimates on EBAY by 5 cents to 84 cents a share. Maintained Neutral Weight rating.

eBay

estimates raised at Piper: Piper said it is raising its 2007 estimates on EBAY by a nickel to 91 cents a share due to increased margin assumptions. Maintained Market Perform rating.

Fastenal

estimates raised at Piper: Piper said it is raising its 2007 estimates on FAST by 4 cents to $1.66 a share to reflect new store format rollout. Maintained Market Perform rating.

Freeport McMoRan

outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on FCX for the full year to $5 a share from $3.89 a share. Earnings driven by price strength.

Freescale Semi

outlook raised at UBS: UBS said it is raising its 2006 EPS estimates on FSL to $1.97 from $1.66 following strong 1Q results. Raised target price to $42 from $36.

General Dynamics

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimates on GD by 10-cents to $4.05 and raising the target by $5 to $75 on Q1 results. Maintained Buy rating.

Grant Prideco

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on GRP from $2.60 and $3.20 to $2.92 and $3.45 and raising the target by $5 to $62 on Q1 results. Maintained Buy rating.

Intel

estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 EPS estimates on INTC by 5-cents to $1.03 on Q1 results. Maintained Buy rating and $23 target.

Juniper

outlook cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on JNPR for the full year to 62 cents a share from 67 cents a share. Trimming revenue and EPS estimates.

Juniper

target price lowered at UBS: UBS said it is lowering its target price on JNPR to $21 from $22 on weaker outlook. Maintained Neutral rating.

Coca-Cola

outlook raised at Morgan Stanley: Morgan Stanley said it is raising its estimates on KO for 2006 to $2.30 a share from $2.28 a share. First quarter successes as well as challenges.

Qualcomm

outlook raised at UBS: UBS said it is raising its 2006 EPS estimates on QCOM to $1.40 from $1.33 following strong quarterly results. Raised target price to $53 from $51.

St. Jude Medical

estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 EPS estimates on STJ by a penny to $1.70 on weak Q1 results. Maintained Hold rating and $42 target.

Steel Dynamics

target price raised at UBS: UBS said it is raising its target price on STLD to $75 from $62 after better than expected 1Q results. Maintained Buy rating.

Swift Transportation

added to focus list at JP Morgan: JP Morgan said it was added to the focus list with $41 target on Q1 results evidencing turnaround.

Teradyne

outlook raised at Morgan Stanley: Morgan Stanley said it is raising its outlook on TER to $1.03 a share from 86 cents a share. Gross margin performance driving positive earnings revisions.

United Technologies

estimates raised at Jefferies: Jefferies said it was raising FY 2006 by 10-cents to $3.60 on Q1 results. Maintained Buy rating and $64 target.

United Technologies

outlook boosted at Morgan Stanley: Morgan Stanley said it is increasing its estimates on UTX for 2006 to $3.65 a share from $3.60 a share. Target price raised to $75 a share from $68 a share. Maintained Overweight rating.