Analysts' Upgrades, Downgrades: Intercontinental Exchange

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Change in Ratings

Apollo

(APOL)

upgraded at Credit Suisse to outperform from neutral based on pricing power. Raises target price to $60 from $50.

Cognizant Technology

(CTSH) - Get Report

downgraded at Goldman to neutral from buy based on valuation. Stock is within 4% of its $38 target price.

DeVry

(DV)

downgraded at Credit Suisse to neutral from outperform based on valuation. Shares are up 25% since February. Maintained $65 target price.

ExlService Holdings

(EXLS) - Get Report

upgraded at Goldman to buy from neutral based on valuation. Sees over 30% upside in the stock over the next six months. Lowered target price to $20 from $22.

Fifth Third Bancorp

(FITB) - Get Report

upgraded at KBW to outperform. Estimates cut to reflect the recent recapitalization, though the company's valuation now appears attractive. $13 price target.

Intercontinental Exchange

(ICE) - Get Report

initiated at UBS with a buy rating and $150 price target. Introduces 2008 EPS estimates of $5.25.

International Rectifier

(IRF)

downgraded at Citigroup from hold to sell with a $22 price target. Field checks in Asia suggest lower LCD TV display demand and a slowdown in China orders. Estimates also cut.

Pepsi Bottling Group

(PBG)

upgraded at JP Morgan to neutral from underweight. Lowers 2008 EPS estimates from $2.38 to $2.33.

Portland General Electric

(POR) - Get Report

upgraded at JPMorgan to neutral from underweight. Maintains 2008 EPS estimates of $1.85.

Polypore

(PPO)

downgraded at JPMorgan to neutral from overweight. Lowers 2008 EPS estimates to 94 cents from $1.00.

Scientific Games

(SGMS) - Get Report

upgraded at Morgan Stanley to overweight with a $42 price target. Size and growth of the company's China business is underappreciated. Valuation multiple should also expand if the company meets earnings targets for the first time in a few years.

Sandisk

(SNDK)

downgraded at Citigroup from buy to hold with a $27 price target. Estimates also cut as NAND pricing and is weakening. Recent trip to Asia also suggests that end-product demand could be soft.

Stock Comments/EPS Changes

Actuant

(ATU)

price target raised at RBC to $37 from $32 while fiscal year 2008 EPS estimates hold at $2.03. Reiterates sector perform rating.

Evergreen Solar

(ESLR)

numbers raised at Jefferies. Price target raised to $16 from $10. 2008 EPS estimates raised to -26 cents from -34 cents. Maintains buy rating.

Fifth Third Bank numbers lowered at UBS. 2008 EPS estimates lowered to 41 cents from $2.20. Price target lowered to $10 from $22. Maintains neutral rating.

Fannie Mae

(FNM)

numbers lowered at UBS. Price target lowered to $26 from $33. 2008 EPS estimates lowered to -$3.75 from -25 cents. Maintains neutral rating.

Motorola

(MOT)

numbers lowered at RBC. Price target dips to $9 from $10 and fiscal year 2009 EPS estimates lowered to 42 cents from 45 cents. Reiterates sector perform rating.

Plexus

(PLXS) - Get Report

numbers raised at RBC. Price target lifts to $32 from $26 and fiscal year 2009 EPS estimates upped to $1.90 from $1.85. Reiterates sector perform rating.

Panera Bread

(PNRA)

estimates raised at Jefferies. 2008 EPS estimates raised $2.23 from $2.16. Maintains buy rating and $56 price target.

Weight Watchers

(WTW) - Get Report

numbers lowered at UBS. Price target lowered to $43 from $51. 2008 EPS estimates lowered to $2.83 from $2.85. Maintains neutral rating.

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