Analysts' Upgrades, Downgrades: Nortel - TheStreet

Advance Auto Parts

(AAP) - Get Report

upgraded at Goldman Sachs to Buy from Neutral. See improving enterprise with market share opportunity, as well as low near-term expectations and a favorable macroeconomic backdrop for auto parts sector. Price target at $45.

AnnTaylor Stores

(ANN)

upgraded at Piper Jaffray to Neutral from Sell. Fiscal 2009 EPS estimates introduced at $1.73. Introduces $23 price target.

Constellation Energy

( CEG) downgraded at Citigroup from Buy to Hold. $40 price target. Credit facility remains in effect, but strategic alternatives are just as likely to dilute current investors as result in a sale of the company.

Continental Resources

(CLR) - Get Report

upgraded at Merrill from Neutral to Buy. Company should outperform as it has a strong balance sheet and low cost structure.

Denbury Resources

(DNR) - Get Report

downgraded at Merrill from Buy to Neutral. $30 price target. Company focuses on tertiary projects that require substantial up-front investments, and could be hurt more by lower oil prices and a constrained credit market.

Holly

( HOC) upgraded at Goldman Sachs to Buy from Neutral based on potential upward revisions to near-term earnings for refiners. Also noted capital projects at Navajo and Woods Cross refineries. Price target at $45.

Kohl's

(KSS) - Get Report

downgraded at Citigroup from Buy to Hold. $52 price target. Valuation call, as the stock has outperformed its peers by 28 percentage points year-to-date. Fundamental outlook remains intact.

TCF Financial

(TCB)

downgraded at Merrill Lynch to Underperform from Neutral. Cites elevated valuation and greater-than-anticipated credit strain in home equity, leasing and real estate. Lowered target price to $12 from $14.

Target

(TGT) - Get Report

downgraded at Morgan Stanley to Equal-weight. Valuation call, as the stock is up 25% since July.

Stock Comments/EPS Changes

Akamai

(AKAM) - Get Report

price target lowered at Goldman to $21.50 from $25 based on multiple contraction in CDN space, as well as longer-term competitive concerns. Maintained Neutral rating.

General Electric

(GE) - Get Report

price target lowered at Deutsche Bank to $28 from $33. Maintains Hold rating and 2008 EPS estimates of $2.20.

General Mills

(GIS) - Get Report

price target raised at Goldman to $79 from $71 after Q1 results that were better than expected. Note strong volume and pricing, as well as attractive defensive characteristics. Maintained Buy rating.

Nortel

( NT) 2009 estimates cut at JPMorgan to a 77-cent loss from an 18-cent profit. See weaker revenue growth and lower margins on declining CDMA revenue. Maintained Underweight rating on stalled restructuring.

Oracle

(ORCL) - Get Report

numbers lowered at UBS. Price target lowered to $22 from $26. Fiscal 2009 EPS estimates lowered to $1.43 from $1.48.

Wal-Mart

(WMT) - Get Report

target raised at Credit Suisse to $63 from $60. Believes company is in sweet spot during uncertain times and will gain more traction through execution. Maintained Outperform rating.

Strategy Calls/Market Calls

Cooper Industries

( CBE),

Rockwell Automation

(ROK) - Get Report

and

Hubbell

(HUB.B)

were downgraded to Sell, Citigroup said. Estimates also cut across the board, as the real economy will be hurt by the current credit crunch.

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