Analysts' Upgrades, Downgrades: AT&T

Change in Ratings

Affiliated Computer Services

(ACS)

downgraded at Goldman to Neutral from Buy based on limited near-term catalysts. Note bookings momentum, operating profit growth and potential for accelerated organic revenue growth in back half of 2009. Price target at $56.

Automatic Data Processing

(ADP) - Get Automatic Data Processing, Inc. Report

downgraded at Goldman to Neutral from Buy based on rising unemployment and limited near-term catalysts. See solid long-term position but slowing revenue growth. Price target at $50.

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Mastercard

(MA) - Get Mastercard Incorporated Class A Report

upgraded at Goldman to Buy from Neutral following recent 25% correction from June highs. See attractive entry point relative to long-term growth trajectory of 12%-15%. Note new IPS platform and strong European presence. Price target at $275.

Stock Comments/EPS Changes

AT&T

(T) - Get AT&T Inc. Report

target lowered at Credit Suisse to $36 from $39. Cites higher cost of capital given the state of the macroeconomic environment. Maintained Neutral rating.

This article was written by a staff member of TheStreet.com.