CHANGE IN RATINGS

Autodesk

(ADSK) - Get Report

downgraded at Merrill from Buy to Underperform. $10 price target. Estimates also cut, to match the company's new guidance. Even so, the company's long-term prospects remain favorable.

Celanese

(CE) - Get Report

downgraded at Citigroup to Hold. Chinese exposure will weigh on 2009 earnings. Liquidity outlook remains stable.

Gap

(GPS) - Get Report

upgraded at Citigroup from Hold to Buy. Company has cut costs and has a pristine balance sheet. $12 price target. Gap price target lowered at Goldman to $14 from $15, based on lower earnings expectations in tough environment. Maintained Buy rating.

Limited Brands

(LTD)

upgraded at Citigroup from Hold to Buy. $9.50 price target. Company has an 8% yield with solid liquidity and no major debt coming due in the near future.

Microsoft

(MSFT) - Get Report

upgraded at Oppenheimer to Outperform. $22 price target. Market is overly discounting headwinds to growth.

STOCK COMMENTS / EPS CHANGES

GameStop

(GME) - Get Report

price target slashed at Goldman to $20 from $39 based on currency effects, market share declines and lower new store productivity. Maintained Neutral rating.

STRATEGY CALLS / MARKET CALLS

BioMarin

(BMRN) - Get Report

and

Myriad Genetics

(MYGN) - Get Report

were upgraded to Buy at Citigroup. Sector is not cyclical and earnings expectations appear reasonable.

Amgen

(AMGN) - Get Report

was also added to the Top Picks list.

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