Change in Ratings

Alcatel-Lucent

(ALU)

upgraded at Merrill to neutral with a $7.24 price target. Risk/reward within the stock is now more balanced vs. other tech names. Earnings estimates and fundamentals remain unchanged.

Atheros

( ATHR) upgraded at Piper from neutral to buy with a $34 price target. Channel checks suggest that the company is taking more market share. Estimates remain above consensus.

Compellent Technologies

( CML) downgraded at RBC to sector perform from outperform. Price target holds at $13 and reiterates speculative risk assessment.

Huntsman

(HUN) - Get Report

upgraded at Jefferies. Rating raised to hold from underperform. Maintains 2008 EPS estimates of 70 cents and $11 price target.

Interpublic Group

(IPG) - Get Report

initiated at UBS with a neutral rating and $9.50 price target. Introduces 2008 EPS estimates of 43 cents.

Level 3 Communications

(LVLT)

downgraded at Citigroup from hold to sell. The retreat within the telecom valuations increases the downside risk for the share price.

Myriad Genetics

(MYGN) - Get Report

upgraded at RBC to sector perform from underperform. Price target holds at $13 and reiterates above average risk assessment.

Omnicom Group

(OMC) - Get Report

initiated at UBS with a neutral rating and $50 price target. Introduces 2008 EPS estimates of $3.30.

Powerwave

(PWAV)

upgraded at Goldman Sachs to buy from neutral. Believe investors are underestimating revenue potential and improvements in gross margins. See 10% or better revenue growth over next two to three years. Price target raised to $5.30 from $4.80.

Smithfield Foods

(SFD)

upgraded at Morgan Stanley from underweight to equal-weight. Valuation call, as the stock is 18% below its $24 price target. Consensus estimates remain too optimistic, however.

Symantec

(SYMC) - Get Report

upgraded at ThinkPanmure to buy with a $24 price target. Recent checks suggest a stable core business with solid sales activity. This increased stability within sales is driving productivity and execution. Data loss prevention, endpoint virtualization, security services and on-line back-up are expected to provide upside growth potential.

Teradyne

(TER) - Get Report

upgraded at Piper from neutral to buy with a $16 price target. Stock is already pricing in a temporary weakening of business. Expect recovery by the fourth quarter.

Texas Industries

(TXI)

downgraded at Stephens to equal-weight from overweight with a price target of $68. It is assumed that energy costs going forward will remain relatively high and as a result fourth quarter 2008 may come in short of Wall Street's expectations.

Stock Comments/EPS Changes

Anheuser-Busch

(BUD) - Get Report

estimates raised at Goldman to $3.13 from $2.96 based on management's cost reduction plan. Note concern over restoring health of core brand while cutting costs. Shares not rated.

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