Analysts' Actions: A Daily Roundup of Street Research

Who made what calls.
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CHANGE IN RATINGS

Agco

downgraded at JP Morgan: AG was downgraded from Overweight to Neutral, JP Morgan said. Stock is up 63% on the year, and the farm equipment business may already be at a cyclical peak.

Commerce Bancorp

rated new Neutral at UBS: UBS said it is initiating coverage on CBH with a Neutral rating. Sees Fed pause and steeper yield curve boosting growth but stock seems fully valued. Sets $43 target price.

General Motors

upgraded at Keybanc: GM was upgraded from Hold to Buy, Keybanc said. UAW/DPH negotiations should be resolved successfully. Estimates also raised, as the company's new SUV's and trucks should drive sales growth.

RGA

upgraded at UBS: UBS said it is upgrading RGA to Buy from Neutral based on solid fundamentals to support higher valuation. Raised target price to $60 from $52.

Western Digital

initiated with In-Line at Goldman: Goldman said it is initiating coverage on WDC with an In-Line rating. Believes company can consolidate share in desktop market and take share in notebook and CE segments while maintaining enviable margins.

STOCK COMMENTS / EPS CHANGES

Analog Devices

added to Focus List at JP Morgan: ADI was added to the Focus List, JP Morgan said. Estimates also raised, as the company realized higher order growth this past quarter. $42 price target.

Analog Devices

estimates raised at UBS: UBS said it is raising its 2006 EPS estimates on ADI by 3 cents to $1.53 following strong quarterly results and solid outlook. Maintained Buy rating.

Countrywide Financial

target price raised at CSFB: UBS said it is raising its target price on CFC to $51 from $45. Believes fundamental outlook continues to improve and is more confident in estimates. Maintained Outperform rating.

Expedia

target price cut at CSFB: CSFB said it is lowering its target price on EXPE to $16 from $20 after first quarter results were below consensus. Maintained Underperform rating.

Expedia

target cut at Piper:Piper said it is cutting its target price on EXPE to $17 to reflect a lower target multiple given weakening domestic business. Maintained Market Perform rating.

Guess

estimates raised at Piper: Piper said it is raising its 2006 estimates on GES by 12 cents to $1.79 a share after a very strong quarter. Maintained Outperform rating, target price raised to $53.

JC Penny

estimates raised at Goldman: Goldman said it is raising its 2006 EPS estimates on JCP to $4.30 from $4.52 following another great quarter. Maintained In-line rating.

Kohl's

outlook raised at UBS: UBS said it is raising its 2007 EPS estimates on KSS by 10 cents to $3.00 citing a great quarter. Raised target price to $58 from $53.

Kohl's

estimates raised at Piper:Piper said it is raising its 2007 estimates on KSS by a nickel to $2.95 a share to reflect solid Q1 performance and guidance. Maintained Outperform rating.

Lazard

estimates raised at Morgan Stanley: Morgan Stanley said it is raising its 2006 estimates on LAZ by 13 cents to $2.40 a share to reflect solid M&A momentum. Maintained Equal-weight rating.

Newfield Exploration

target price raised at UBS: UBS said it is raising its target price on NFX to $65 from $55. Sees potential upside to estimates after analyst meeting. Maintained Buy rating.

Nvidia

estimates raised at Goldman: Goldman said it is raising its 2006 EPS estimates on NVDA by 8 cents to 99 cents but remains cautious on near-term outlook. Maintained In-Line rating.

Nvidia

target raised at Morgan Stanley: Morgan Stanley said it is raising its target price on NVDA to $35 to reflect higher EPS estimates. Richer product mix driving upside.

Omnicare

estimates raised at Morgan Stanley: Morgan Stanley said it is raising its 2006 estimates on OCR by 15 cents to $3.40 a share as restructuring charge may boost cost savings. Maintained Overweight rating.

Urban Outfitters

estimates cut at Prudential: Prudential said it is cutting its 2007 estimates on URBN by 7 cents to 84 cents a share following weak Q1 numbers. Maintained Overweight rating.