Analysts' Actions: A Daily Roundup of Street Research

Who made what calls.
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CHANGE IN RATINGS

Autodesk

rated new Neutral at UBS: UBS said it is initiating coverage on ADSK with a Neutral rating. Cites benefiting trends but believes further expansion is unlikely. Sets $46 target price.

AU Optronics

upgraded at Goldman: Goldman said it is increasing its rating on AUO to Inline citing great expectations and investor tolerance.

Allied Waste

upgraded at Deutsche Bank: Deutsche Bank said it is upgrading AW to Buy from Hold based on better pricing environment and high leverage. Raised target price to $17.

BEA Systems

upgraded at Goldman: Goldman said it is increasing its estimates on BEAS to Outperform rating. All aboard the SOA shift.

Dade Behring

upgraded at UBS: UBS said it is upgrading DADE to Buy from Neutral based on valuation. Raised target price to $42.

EMC

downgraded at Bear: EMC was downgraded from Outperform to Peer Perform, Bear Stearns said. Company has not been able to deliver on lowered expectations. Upside limited to $15 or $16 a share.

Frontier Airlines

downgraded at Bear: FRNT was downgraded from Peer Perform to Underperform, Bear Stearns said. Estimates also cut, as the company will likely post the lowest RASM in the group.

Graco

downgraded at Friedman, Billings: GGG was downgraded from Outperform to Market Perform, Friedman, Billings, Ramsey said. Valuation call. $50 price target. Estimates also raised, as the company should be able to sustain recent margin gains.

Google

upgraded at Merrill: Merrill said it is increasing its estimates on GOOG to Buy citing market share growth and consumer offerings.

Google

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on GOOG from $9.10 and $13.06 to $9.61 and $13.42 and raising the target from $477 to $500 on Q1 results. Maintained Buy rating.

GYI

downgraded at Bear: GYI was downgraded from Outperform to Peer Perform, Bear Stearns said. Operating expenses rising faster than expected, and industry competition is heating up.

Getty Images

downgraded at Piper: Piper said it is downgrading GYI to a Market Perform rating due to weakness in royalty free growth.

Hutchinson Tech

downgraded at Baird: HTCH was downgraded from Outperform to Neutral, Robert Baird said. $29 price target. Company offered lower guidance, and will likely struggle to execute for the remainder of 2006.

Illinois Tool Works

upgraded at AG Edwards: AG Edwards said it is upgrading ITW to Buy after better than anticipated quarterly results. Raised target price to $120.

Illinois Tool Works

upgraded at CSFB :CSFB said it is upgrading ITW to Outperform from Neutral following strong first quarter results. Raised target price to $125 from $102.

Insight Enterprises

downgraded at Baird: Baird said it is downgrading NSIT to Neutral from Outperform following inline 1Q results. Lowered target price to $22 from $24.

PortalPlayer

downgraded at Citigroup: PLAY was downgraded from Buy to Sell, Citigroup said. Company AAPL flash business, some drive sales, and the stock has not reflected this yet. $11 price target.

Pilgrims Pride

upgraded at CSFB: CSFB said it is upgrading PPC to Outperform from Neutral. Sees correction in chicken oversupply situation. Raised target price to $31 from $25.

Molson Coors

upgraded at Morgan Stanley: Morgan Stanley said it is increasing its rating on TAP to Equalweight from Underweight. Target to $80 a share. Cost saves to add value.

Tyson Foods

upgraded at CSFB: CSFB said it is upgrading TSN to Outperform from Neutral. Believes most of bad news is prices into stock. Raised target price to $18 from $14.

Textron

downgraded at Merrill: Merrill said it is lowering its rating on TXT to Neutral from Buy. Stock will be range bound due to reservations the market may have regarding execution at Bell.

TXU

upgraded at CSFB: CSFB said it is upgrading TXU to Outperform from Neutral based on plans to construct additional coal generation in Texas. Adjusted target price to $59.

TXU

upgraded at Morgan Stanley: Morgan Stanley said it is raising its rating on TXU to Overweight from Equalweight. Target to $63 from $57 a share. Cites asymmetrical risk/reward.

UnumProvident

upgraded at Friedman, Billings: UNM was upgraded to Outperform, Friedman, Billings Ramsey said. $22 price target. Company has upside potential, based on gradually improving ROE over the next few quarters.

Union Pacific

upgraded at Bear: UNP was upgraded from Underperform to Peer Perform, Bear Stearns said. Estimates also raised, as yield growth is accelerating.

Wesco

downgraded at Baird: WCC was downgraded from Outperform to Neutral, Robert Baird said. Valuation call, as there is limited upside to the $80 price target.

STOCK COMMENTS / EPS CHANGES

Affymetrix

outlook lowered at UBS: UBS said it is lowering its 2006 EPS estimates on AFFX to 33 cents from 45 cents following worse than expected 1Q results. Lowered target price to $30 from $26.

Andrew

target, estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 and 2007 EPS estimates on ANDW from $0.53 and $0.70 to $0.49 and $0.58 respectively and cutting the target by $2 to $11 on high copper prices. Maintained Hold rating.

Arrow Electronics

outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on ARW to $3.04 a share from $2.65 a share. Maintained Equalweight rating.

Bank of America

outlook raised at Goldman: Goldman said it is increasing its estimates on BAC for the full year to $4.50 a share from $4.35 a share. Maintained Outperform rating.

Bank of America

estimates raised at Piper:Piper said it is raising its 2006 estimates on BAC by 9 cents to $4.45 a share following better than expected Q1. Maintained Outperform rating.

BellSouth

outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on BLS for 2006 to $2.27 a share from $2.22 a share. Maintained Equalweight rating.

Broadcom

estimates raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimates on BRCM by 2-cents to $1.49 following the company's earnings call. Maintained Buy rating and $53 target.

Broadcom

outlook raised at UBS: UBS said it is raising its 2006 EPS estimates on BRCM to $1.40 from $0.90 following strong quarterly results. Raised target price to $60 from $54.67.

Broadcom

estimates raised at Prudential: Prudential said it is raising its 2006 estimates on BRCM by 13 cents to 94 cents a share following strong quarter and product cycles. Maintained Overweight rating.

Edwards Lifesciences

estimates raised at Piper: Piper said it is raising its 2007 estimates on EW by 3 cents to $2.31 due to higher revenue forecast. Maintained Outperform rating.

Cooper Cameron

outlook raised at UBS: UBS said it is raising its target price on CAM to $59 from $51. Believes subsea and drilling orders should remain robust. Maintained Buy rating.

Cooper Industries

outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its outlook on CBE to $94 a share from $89 a share. Maintained Equalweight rating.

Cerner

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimates on CERN by a penny to $1.36 and the target from $49.50 to $50 on quarterly results. Maintained Buy rating.

Cypress Semiconductor

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimates on CY from $0.38 to $0.43 and the target by 50-cents to $17.50 on Q1 results. Maintained Hold rating.

Cypress Semiconductor

outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on CY for the full year to 30-cents a share from 3 cents a share. Other income boosts our EPS forecast slightly.

Quest Diagnostics

outlook raised at UBS: UBS said it is raising its 2006 EPS estimates on DGX to $2.98 from $2.79 following strong quarterly results. Raised target price to $66 from $63.

EMC

outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on EMC for the full year to 62 cents a share from 56 cents a share. Maintained Overweight rating.

General Motors

estimates raised at Prudential: Prudential said it is raising its 2007 estimates on GM by 44 cents to $2.86 a share. Maintained Neutral Weight rating.

International Game Tech

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on IGT from $1.30 and $1.50 to $1.33 and $1.52 respectively and the target by $5 to $45 on quarterly results. Maintained Buy rating.

International Game Tech

outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on GM for the full year to $1.40 a share from 65 cents a share. Maintained not-rated status.

INCO

outlook raised at UBS: UBS said it is raising its 2006 EPS estimates on INCO to $4.43 from $3.83 following better than expected 1Q results. Raised target price to $64 from $58.

Illinois Tool Works

outlook raised at UBS: UBS said it is raising its 2006 EPS estimates on ITW to $6.00 from $5.90 following strong 1Q results. Raised target price to $104 from $97.

Labor Ready

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimates on LRW from $1.35 to $1.38 and the target by $5 to $34 on expectation of 20% EPS growth. Maintained Buy rating.

MedImmune

target, estimates cut at Jefferies:Jefferies said it was cutting FY 2006 and 2007 EPS estimates on MEDI from $0.40 and $1.08 to $0.16 and $0.91 respectively and the target by $3 to $33 on poor Q1 product sales. Maintained Hold rating.

Altria

outlook raised at Goldman: Goldman said it is increasing its estimates on MO for the full year to $5.28 a share from $5.25 a share. Maintained Inline rating.

Nokia

estimates raised at Prudential: Prudential said it is raising its 2006 estimates on NOK by 11 cents to $1.20 a share following strong Q1 results. Maintained Overweight rating.

Nucor

outlook raised at UBS: UBS said it is raising its 2006 EPS estimates on NUE to $9.75 from $9.40. Sees continued positive trends in steel market. Raised target price to $132 from $122.

Outback Steakhouse

target cut at Jefferies: Jefferies said it was lowering FY 2006 EPS estimates on OSI by 5-cents to $1.89 and the target from $49 to $39 on low prospects of turnaround. Maintained Hold rating.

Reliance Steel & Al.

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on RS from $7.30 and $7.65 to $8.84 and $9.15 respectively and the target by $6 to $93 on strong Q1 results. Maintained Hold rating.

Teva

estimates cut at Piper: Piper said it is cutting its 2006 estimates on TEVA by 10 cents to $1.92 a share due to lower revenue estimates. Maintained Outperform rating.

XTO

outlook lowered at Morgan Stanley: Morgan Stanley said it is lowering its estimates on XTO for the full year to $3.88 a share from $3.93 a share. Target is $54. Overweight rating.