CHANGE IN RATINGS

Alcoa

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downgraded at Friedman, Billings Ramsey to Underperform. $8.50 price target. Stock has doubled since the March lows, and the aluminum market appears to have excess supply.

Akamai Technologies

(AKAM) - Get Akamai Technologies, Inc. Report

initiated at JPMorgan. Initiated with a Hold rating. Introduces $21 price target and 2009 EPS estimates of $1.70.

Biogen

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downgraded at Deutsche Bank. Rating lowered to Hold from Buy. Maintains $55 price target and 2009 EPS estimates of $4.11.

Cognizant Technology

(CTSH) - Get Cognizant Technology Solutions Corporation Class A Report

upgraded at Wachovia from Underperform to Market Perform. Valuation call relative to its peers, even though there's a cautious outlook for the industry.

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Healthways

(HWAY)

downgraded at Goldman to Sell from Neutral. Potential in-sourcing risk from national plan clients, pricing pressure and selling challenges, and signs of competition led to the decrease in ratings. Increased price target to $10 from $9.

JCPenney

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upgraded at Morgan Stanley from Equal-weight to Overweight. $35 price target. Valuation call, as gross margin could exceed expectations in the second half of the year.

KB Home

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upgraded at Credit Suisse to Neutral from Underperform. Cites a slower decline of orders, achieving 21.7 sales per community, and a successful shift to its "Open Series" of homes. Maintained price target of $13.

SolarWinds

(SWI) - Get SolarWinds Corp. Report

coverage initiated upon with a Buy at Goldman. Compelling valuation and being the leading vendor of mid-market network management software forecasts many growth opportunities. Established price target at $18.

SolarWinds

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rated new Overweight at Morgan Stanley. $20 price target. Company has 20% annual earnings growth potential.

Universal American

(UAM)

upgraded at Goldman to Neutral from Sell based on an attractive valuation. Increased price target to $9.50 from $9.

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STOCK COMMENTS / EPS CHANGES

Chico's FAS

(CHS) - Get Chico's FAS, Inc. Report

numbers raised at Goldman to $8.50 from $8. Positive operational and product initiatives that are resulting in optimal square footage usage and updated products bode well for the company's outlook. Maintained Neutral rating.

Chico's

(CHS) - Get Chico's FAS, Inc. Report

estimates lowered at UBS through 2011. Operating expenses remain high and it will take longer to turn the business around. Neutral rating and $10 price target.

Commercial Metal Company

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target raised at Goldman to $18 from $17 based on a higher cash balance for the company. Maintained Neutral rating.

Devon Energy

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numbers lowered at Morgan Stanley through 2011. Natural gas price outlook remains murky. Overweight rating and new $80 price target. Overweight rating.

eBay

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numbers boosted at Barclays through 2010. Company should benefit from a weaker dollar and the Gmarket acquisition. Equal-weight rating and new $18 price target.

Flowserve

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target raised at Credit Suisse to $85 from $80. Confidence in after market growth, a more variable cost structure, and mixed end markets led to the increase in numbers. Maintained Outperform rating.

General Mills

(GIS) - Get General Mills, Inc. (GIS) Report

estimates boosted at RBC through 2010. Management recently boosted earnings guidance. Outperform rating and $60 price target.

Microsoft

(MSFT) - Get Microsoft Corporation (MSFT) Report

price target raised at Deutsche Bank. Price target raised to $30 from $22. Maintains Buy rating and 2009 EPS estimates of $1.68.

Omnicom

(OMC) - Get Omnicom Group Inc Report

estimates reduced at Barclays through 2010. Macro concerns will likely weigh on revenue. Overweight rating and $40 price target.

SLM

(SLM) - Get SLM Corp Report

estimates, target raised at Friedman, Billings to $16. Estimates also boosted, to reflect improving student loan spreads. Outperform rating.

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