Analysts' Actions: A Daily Roundup of Street Research

Who made what calls.
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CHANGE IN RATINGS

Airgas

downgraded at Keybanc: ARG was downgraded from Buy to Hold, Keybanc said. Stock is up 80% over the past year, and trading at the high end of the expected valuation range. Fundamentals remain intact.

Airgas

downgraded at BB&T: ARG was downgraded to Hold, BB&T Capital said. Company reported strong earnings, though sales and gross margin did not rise much during the quarter. Stock is also at multi-year highs.

Airgas

estimates raised at Goldman: Goldman said it is raising its 2006 EPS estimates on ARG to $1.82 from $1.75 after upbeat F4Q results. Maintained Inline rating.

Airgas

target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimates on ARG by 3-cents to $1.62 and the target by $4 to $45 on strong Q1 results. Maintained Buy rating.

Humana

estimates raised at Morgan Stanley: Morgan Stanley said it was raising FY 2006 EPS estimates on HUM by 4-cents to $2.83 on Q1 results. Maintained Equal-weight rating.

Humana

upgraded at UBS: UBS said it is upgrading HUM to Neutral from Reduce based on valuation and solid 1Q execution. Raised target price to $48 from $46.

STOCK COMMENTS / EPS CHANGES

American Electric Power

estimates raised at Goldman: Goldman said it is raising its 2006 EPS estimates on AEP to $2.60 from $2.56 following impressive 1Q results. Maintained Underperform rating.

Ann Taylor

target price raised at CSFB: CSFB said it is raising its target price on ANN to $48 from $40. Sees turnaround happening led by operating margin improvements. Maintained Outperform rating.

Autozone

estimates cut at Piper: Piper said it is cutting its 2006 estimates on AZO by 15 cents to $7.63 a share due to higher store-level spending. Maintained Market Perform rating.

Build-A-Bear Workshop

estimates raised at CSFB: CSFB said it is raising its 2006 EPS estimates on BBW by 3 cents to $1.43. Cites good quarter results but believes expectations are high and upside is limited. Maintained Neutral rating.

Chesapeake Energy

estimates raised at Morgan Stanley: Morgan Stanley said it was raising FY 2006 and 2007 EPS estimates on CHK from $3.16 and $3.19 to $3.22 and $3.36 on Q1 results. Maintained Overweight rating and $37 target.

Chesapeake Energy

estimates raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimates on CHK from $2.83 to $3.36 on Q1 results. Maintained Buy rating and $37 target.

Salesforce.com

target raised at Merrill: Shares of CRM now seen reaching $42, Merrill Lynch said. Channel checks suggest strong first quarter results. Buy rating.

Flextronics

estimates raised at Piper: Piper said it is raising its 2007 estimates on FLEX by a penny to 75 cents a share. Maintained Market Perform rating.

Harrah's Entertainment

estimates raised at Goldman: Goldman said it is raising its 2006 EPS estimates on HET to $3.85 from $3.60 following strong 1Q results. Maintained Inline rating.

Starwood Hotels & Resorts

estimates raised at Goldman: Goldman said it is raising its 2006 EPS estimates on HOT to $2.30 from $2.14 after company reported better than expected 1Q results. Maintained Outperform rating.

Harris Corp.

estimates raised at Prudential: Prudential said it is raising its 2006 estimates on HRS by a nickel to $1.69 a share due to higher sales forecast for RF Communications sales and higher margin estimate.

Lubrizol

estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 and 2007 EPS estimates on LZ from $2.95 and $3.35 to $2.85 and $3.20 on trademark caution and Q1 results. Maintained Hold rating and $45 target.

MGM Mirage

estimates raised at Goldman: Goldman said it is raising its 2006 EPS estimates on MGM to $2.00 from $1.84 following solid 1Q results. Maintained Inline rating.

Public Service Ent.

estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 EPS estimates on PEG by 10-cents to $3.60 on Q1 results. Maintained Buy rating and $92 target.

Principal Financial

numbers raised at Morgan Stanley: Morgan Stanley said it was raising FY 2006 and 2007 EPS estimates on PFG from $3.17 and $3.64 to $3.35 and $3.80 and the target by $3 to $50 on Q1 results. Maintained Underweight rating.

Principal Financial

estimates raised at UBS: UBS said it is raising its 2006 EPS estimates on PFG to $3.24 from $3.16 following strong 1Q results. Maintained Neutral rating.

Sysco

estimates cut at Piper: Piper said it is cutting its 2006 estimates on SYY by 10 cents to $1.36 a share to reflect Q3 earnings and cost pressures. Maintained Market Perform rating.

Wisconsin Energy

estimates raised at Goldman: Goldman said it is raising its 2006 EPS estimates on WEC to $2.59 from $2.49. Sees few major catalysts but remains bullish on LT regulated growth prospects. Maintained Outperform rating.