Analysts' Actions: A Daily Roundup of Street Research

Who made what calls.
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CHANGE IN RATINGS

Baidu.com

upgraded at Piper Jaffray: Piper Jaffray said it is upgrading BIDU to market Perform following strong 1Q results. Believes market dominance is creating leverage. Raised target price to $75.

Cheesecake Factory

upgraded at AG Edwards: AG Edwards said it is upgrading CAKE to Buy from Hold. Believes long-term growth strategy is still intact. Raised target price to $40.

Countrywide Financial

upgraded at Morgan Stanley: Morgan Stanley said it is increasing its rating on CFC to Overweight as the market is mispricing risk.

Darden

downgraded at Jefferies: Jefferies said it is lowering its DRI estimates for 2007 to $2.31 a share from $2.39 a share. Rating cut to Underperform from Hold.

Fluor

downgraded at Friedman, Billings: FLR was downgraded from Outperform to Market Perform, Friedman, Billings Ramsey said. Stock is fully valued in the triple-digits. That said, estimates were raised, as the company continues to perform well.

Hansen

coverage initiated at Goldman: Goldman said it is initiating coverage on HANS with an Outperform rating and a $230 target price.

Lazard

upgraded at JP Morgan: LAZ was upgraded from Underweight to Neutral, JP Morgan said. Market is ignoring major concerns, and the company is positioned well to benefit from the robust M&A market.

Lifepoint Hospitals

upgraded at Deutsche: LPNT was upgraded from Hold to Buy, Deutsche Bank said. $38 price target. Valuation call. Hospital fundamentals remain decent, but not great.

Multi-Fineline Elect.

downgraded at Baird: MFLX was downgraded from Outperform to Neutral, Robert Baird said. $51 price target. Cash flow was weak in the latest quarter, and revenue growth should slow down.

Magna International

downgraded at UBS: UBS said it is downgrading MGA to Neutral from Buy. Believes valuation appears full given near-term risks. Maintained $88 target price.

PetSmart

upgraded at Weisel: PETM was upgraded from Peer Perform to Outperform, Thomas Weisel said. Point-of-sales data and vendor checks confirm that industry demand remains strong. There are also a number of catalysts that could drive an upside surprise in the quarter to be reported on May 17.

PetSmart

upgraded at Deutsche: PETM was upgraded from Hold to Buy, Deutsche Bank said. $31 price target. Concerns about higher gas prices and increased competition have been overblown.

Symantec

upgraded at Cowen: Cowen said it is upgrading SYMC to Outperform. Believes 2007 estimates no longer have a downward bias and is safe to go back into the water.

US Bancorp

upgraded at UBS: UBS said it is upgrading USB to Buy given upside to EPS, valuation and likely Fed pause. Maintained $37 target price.

Warnaco

downgraded at JP Morgan:WRNC was downgraded from Overweight to Neutral, JP Morgan said. Estimates also cut, as the company lacks credibility with investors or many potential catalysts.

STOCK COMMENTS / EPS CHANGES

ActivIdentity

outlook lowered at Jefferies: Jefferies said it is lowering its estimates on ACTI for the full year to a loss of 66 cents a share from a loss of 58 cents a share. Working through a transition.

Albany Molecular

estimates raised at Jefferies: Jefferies said it is increasing its estimates on AMRI for the full year to $1.15 a share from $1.04 a share. Maintained Buy rating.

Cisco

outlook raised at Goldman: Goldman said it is increasing its estimates on CSCO for the full year to 94 cents a share from 93 cents a share.

Cablevision

target boosted at Prudential: Shares of CVC now seen reaching $21, according to Prudential. Estimates also adjusted, following another strong quarter. Neutral rating.

Disney

estimates cut at Goldman: Goldman said it is lowering its estimates on DIS for the full year to $1.46 a share from $1.47 a share.

Dynegy

estimates increased at Morgan Stanley: Morgan Stanley said it is increasing its estimates on DYN for 2006 to a loss of 4 cents a share from a loss of 10 cents a share. Cites unattractive risk/reward for rating.

FMC Tech.

outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on FTI for the full year to $2.80 a share from $2.40 a share. Positive margin surprise cited in the note.

Hospira

outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on HSP for the full year to $2.16 a share from $1.95 a share.

Jack Henry Associates

target price lowered at CSFB: UBS said it is lowering its target price on JKHY to $24 from $26 after operating results were weaker than expected. Maintained Outperform rating.

Kohl's

target price raised at CSFB: CSFB said it is raising its target price on KSS $68 from $58. Sees improved sales going forward. Maintained Outperform rating.

US Airways

numbers raised at Prudential: Shares of LCC now expected to reach $56, Prudential said. Estimates also increased, as the company guided for continued RASM strength in the coming quarters. Overweight rating.

Murphy Oil

estimates lowered at UBS: UBS said it is lowering its 2006 EPS estimates on MUR by 10 cents to $7.00. It believes the company is fully valued. Maintained $52 target price.

Mylan Labs

estimates raised at UBS: UBS said it is raising its 2006 EPS estimates on MYL by 3 cents to $1.17 following 4Q results. Maintained $28 target price.

Mylan Labs

outlook cut at Goldman: Goldman said it is lowering its estimates on MYL for the full year to $1.22 a share from $1.24 a share. Maintained Outperform rating.

NTL

outlook raised at Jefferies: Jefferies said it is increasing its estimates on NTLI for 2006 to a loss of $1.29 a share from a loss of $1.56 a share. Maintained Buy rating.

Precision Castparts

estimates raised at Jefferies: Jefferies said it is increasing its estimates for 2006 to $2.57 a share from $2.52 a share. The company can continue to generate double-digit EPS growth through market share expansion.

SBA Communications

outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on SBAC for the full year to a loss of 38 cents a share from a loss of 57 cents a share. Maintained Overweight rating.

Skywest

added to Focus 1 List at Merrill: SKYW was added to the Focus 1 List, Merrill Lynch said. Valuation call, though the high-quality airline is also positioned well for growth. $32 price target. Buy rating.

Sara Lee

outlook lowered at Morgan Stanley: Morgan Stanley said it is lowering its estimates on SLE for the full year to $1.16 a share from $1.23 a share. Critical question is the timing and scope of performance improvement.

Symantec

outlook cut at Goldman: Goldman said it is lowering its estimates on SYMC for the full year to 97 cents a share from 98 cents a share. Maintained Outperform rating.

Tenet Healthcare

outlook raised at Jefferies: Jefferies said it is raising its estimates on THC for 2006 to 3 cents a share from a loss of 14 cents a share. First quarter was above consensus. Maintained Underperform rating.

Western Gas

outlook raised at Goldman: Goldman said it is raising its estimates on WGR to $3.09 a share from $3.01 a share. Maintained Underperform rating.

Watson Pharmaceuticals

estimates cut at UBS: UBS said it is lowering its 2006 EPS estimates on WPI by 12 cents to $1.23. Cites brands continue to disappoint. Maintained $30.50 target price.

Wheeling-Pittsburgh

estimates raised at UBS: UBS said it is raising its 2006 EPS estimates on WPSC by 5 cents to $2.30. Maintained Reduce rating.