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Change in Ratings

Ann Taylor

(ANN)

downgraded at Citigroup from Buy to Sell. $21 price target. Second-quarter expectations also cut ahead of the upcoming report, as broad consumer weakness should delay the company's potential turnaround story.

Cabot Oil & Gas

(COG) - Get Cabot Oil & Gas Corporation Report

upgraded to Buy from Neutral at Bank of America along with the upgrade of the E&P group to Overweight. Price target maintained at $74.

Comstock Resources

(CRK) - Get Comstock Resources, Inc. Report

upgraded to Buy from Neutral at BofA. Price target maintained at $70.

Dover

(DOV) - Get Dover Corporation Report

downgraded at JP Morgan from Overweight to Neutral. Stock has outperformed the market by 19%, and the benefits from the buyback and currency gains should shrink in 2009.

Fluor

(FLR) - Get Fluor Corporation Report

estimates increased at Lehman. Lehman continues to believe that Fluor is the only E&C that provides enough diversity across the sector's end markets. Analyst sees potential for several large bookings in the near term. Lehman raised price target to $103 from $98.

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TheStreet Recommends

Goldman Sachs

(GS) - Get Goldman Sachs Group, Inc. Report

downgraded at Deutsche Bank from Buy to Hold. $192 price target. Estimates also cut, as company has about 35% exposure to equities in a difficult market.

ITT

(ITT) - Get ITT, Inc. Report

downgraded at JP Morgan from Neutral to Underweight. Valuation call, as the commercial business is facing fundamental growth risks into 2009.

Quicksilver Resources

(KWK)

upgraded to a Buy at BofA. Price target maintainted at $40.

Longs Drug Stores

( LDG) downgraded at Credit Suisse to Underperform from Neutral based on valuation. Lowered target to $37 from $52.

McDonald's

(MCD) - Get McDonald's Corporation Report

downgraded at UBS to Neutral from Buy. Maintains 2008 EPS estimates of $3.55 and $69 price target.

Penn National

(PENN) - Get Penn National Gaming, Inc. Report

upgraded at JP Morgan from Neutral to Overweight. $39 price target. Company has an attractive and fully funded development pipeline. Management can also leverage the balance sheet over time to drive EBITDA growth.

Psychiatric Solutions

(PSYS)

downgraded at Deutsche Bank from Buy to Hold. $40 price target. Company could struggle to keep growing margins, based on a change in the industry model and potential competition from HCA.

Penn Virginia

(PVA)

upgraded to Buy at Suntrust. $93 price target. Company realizing higher coal royalties.

Stone Energy

(SGY)

upgraded to buy at BofA. Price target maintained at $70.

Tyco

(TYC)

downgraded at JP Morgan from Overweight to Neutral. Stock has outperformed the market by about 20% year-to-date, though risks are rising in the flow and commercial construction businesses.

VMware

(VMW) - Get VMware, Inc. Class A Report

coverage initiated at Goldman Sachs with a Neutral rating. See slowing growth rate, increasing competition and premium valuation relative to comparable companies. Price target at $40.

Whiting Petroleum

(WLL) - Get Whiting Petroleum Corporation Report

upgraded to Buy at BofA. Price target maintained at $114.

Wynn Resorts

(WYNN) - Get Wynn Resorts, Limited Report

downgraded at JP Morgan from Overweight to Neutral. Valuation call, as the stock is up 65% since July 10. Market is already pricing in strong Macau results.

Stock Comments/EPS Changes

Clear Channel Outdoor

(CCO) - Get Clear Channel Outdoor Holdings Inc Report

numbers lowered at Jefferies. 2008 EPS estimates lowered to $0.45 from $0.65. Price target lowered to $21 from $25. Maintains Buy rating.

Coca-Cola

(KO) - Get Coca-Cola Company Report

numbers lowered at UBS. 2008 EPS estimates lowered to $3.08 from $3.10. Price target lowered to $67 from $70. Maintains Buy rating.

Constellation Brands

(STZ) - Get Constellation Brands, Inc. Class A Report

numbers raised at UBS. Fiscal 2009 EPS estimates raised to $1.71 from $1.67. Price target raised to $23.50 from $20. Maintains Neutral rating.

Sybase

( SY) price target raised at Jefferies to $36 from $33. Maintains Hold rating and 2008 EPS estimates of $1.99.

Strategy Calls/Market Calls

JP Morgan changes ratings on airline stocks.

Alaska

(ALK) - Get Alaska Air Group, Inc. Report

,

AMR

(AMR)

,

Continental

(CAL) - Get Caleres, Inc. Report

,

Delta

(DAL) - Get Delta Air Lines, Inc. Report

and

UAL

( UAUA) were upgraded to Overweight. Rating on

Northwest

( NWA) was also raised to Neutral. On the other hand,

Southwest

(LUV) - Get Southwest Airlines Co. Report

was downgraded from Neutral to Underweight.

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