CHANGE IN RATINGS

Analog Devices

(ADI) - Get Report

upgraded at Merrill/BofA from Underperform to Buy. Estimates also increased, to reflect efficiency and cost-cutting measures. $29 price target.

American Reprographics

(ARP)

downgraded at Credit Suisse to Neutral from Outperform based on a balanced risk/reward scenario and a recent rally in share price. Maintained price target of $10.

Cameron

(CAM)

upgraded at Goldman to Conviction Buy and established a new target price at $42. Expectations of a long term upside, secular growth for oil spending, and a pick up in orders led to the increase in ratings.

Conoco Phillips

(COP) - Get Report

downgraded at Goldman to Neutral from Buy. Concerns about the co.'s strategic direction and beliefs that they will no longer outperform the sector led to the decline in ratings. Lowered target price to $53 from $60.

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Deere

(DE) - Get Report

upgraded at Goldman to Neutral and established a target price at $42. Current drivers for the upgrade include a more balanced risk/reward scenario, recent sell offs, and a favorable commodity outlook.

Edison International

(EIX) - Get Report

downgraded at Goldman to Neutral from Buy based on valuation. Increased target price to $31 from $26.

Exterran Holdings

(EXH)

upgraded at Credit Suisse to Outperform from Neutral. Cites reduced U.S. fleet utilization risk and that current share prices are adequately discounting risks. Maintained price target of $22.

Freeport-McMoran

(FCX) - Get Report

rated new Hold at Citigroup. $53 price target. Stock is already pricing in higher copper prices.

Corning

(GLW) - Get Report

rated new Outperform at Morgan Keegan. Higher utilization and stable prices should lead to earnings growth. LCD glass demand remains strong.

Ingersoll Rand

(IR) - Get Report

upgraded at JP Morgan. Rating raised to Overweight from Neutral. Price target raised to $25 from $19. Maintains 2009 EPS estimates of $1.00.

Legg Mason

(LM) - Get Report

upgraded at Deutsche Bank to hold from sell and price target increased to $23 from $18. The fundamental story at LM remains weak, and Deutsche bank expects any activist investors to run into significant hurdles in creating value. In the near term, expecting this news to trump the fundamentals. Estimates remain unchanged.

Legg Mason

(LM) - Get Report

upgraded at Merrill/BofA from Underperform to Neutral. $25 price target. Estimates also raised, to reflect strong performance in the company's bond funds.

Nike

(NKE) - Get Report

downgraded at Susquehanna from Positive to Neutral. Estimates also cut to reflect a lower future sales outlook.

Nike

(NKE) - Get Report

target raised at Goldman to $49 from $48. Implications on the bellwether stock include a more leveraged recovery in the next couple quarters and valuation led to the increase in numbers. Maintained Neutral rating.

Nike

(NKE) - Get Report

2010 estimates lowered at Merrill/BofA to $3.60 a share. Company is facing currency pressures and has a cloudy outlook. Buy rating and $65 price target.

Novellus Systems

(NVLS)

downgraded at Goldman to Conviction Sell from Sell. The co.'s share price is significantly overvalued at this juncture and expectations that their M&A premium will narrow based on the beliefs that the acquisition of Tokyo Electron is unlikely. Maintained target price of $7.

Red Hat

(RHT) - Get Report

target increased at Goldman to $18 from $16. A solid Q1, expectations of organic growth, growth in current bookings, a continuation of expanding their margins led to the rise in numbers. Maintained Neutral rating.

Red Hat

(RHT) - Get Report

downgraded at Merrill/BofA from Buy to Neutral. Valuation call, based on a $21 price target.

Red Hat

(RHT) - Get Report

estimates raised through 2011 at Morgan Stanley. Billings growth is decelerating, offset by higher receivables collection. Equal-weight rating.

SCANA

(SCG)

upgraded at Goldman to Neutral from Sell. Slight underperformance and improved EPS estimates led to the increase in ratings. Increased target price to $37 from $35.

SLM Corporation

upgraded at JPMorgan. Rating raised to Overweight from Neutral. Maintains $12 price target. Lower 2009 EPS estimates to $0.68 from $0.84.

Seagate Technology

(STX) - Get Report

upgraded at Deutsche Bank to a hold from sell and price target increased to $10 from $4.50. Upgrade and estimate increase due to better HDD demand, more modest pricing, and STX's cost structure improvements. As a result, of tangible changes under new management, $1 EPS is attainable in FY11.

STOCK COMMENTS / EPS CHANGES

Automatic Data

(ADP) - Get Report

numbers lowered at Barclays through 2010. Company likely facing the same problems as PAYX. Overweight rating and new $41 price target.

Bed Bath & Beyond

(BBBY) - Get Report

target raised at Goldman to $32 from $30. Cites an upside to earnings estimates, lower discount to normalized earnings, and improving margins. Maintained Neutral rating.

Bed Bath & Beyond

(BBBY) - Get Report

numbers raised at Friedman Billings Ramsey to $33. Estimates also increased to reflect lower operating costs. Market Perform rating.

CNH Global

(CNH)

numbers lowered at Goldman to $14 from $16. The lowering of numbers was prompted by the assumption that ag and construction equipment demand will likely remain weak , steep 2009 losses, and that their high inventories could suggest and even greater cut in production. Maintained Sell rating.

Goldman

(GS) - Get Report

2009 estimates lowered at Barclays to reflect the repayment of TARP funds. Equal-weight rating and $165 price target.

Intel

(INTC) - Get Report

2009 estimates raised at UBS because of positive industry sales trends. Server weakness will keep gross margin gains muted. Buy rating and $18 price target.

Jefferies

(JEF) - Get Report

target raised at Goldman to $20 from $18. Catalysts concerning the raise are the pre-announcement of record net revenues, much better estimated earnings, and expectation for more positive trading profits. Maintained Neutral rating.

Jefferies

(JEF) - Get Report

estimates, target raised at Friedman, Billings Ramsey to $17. Estimates also increased, to reflect better fixed-income trading returns. Market Perform rating.

Monsanto

(MON)

target lowered at Goldman to $80 from $87. Lower glyphosate profits and seed prices, the downside to their product "Roundup" based on generic competition, and a reduction in EPS estimates led to the lowering of its price target. Maintained Neutral rating.

Monsanto

(MON)

2010 estimates lowered at Morgan Stanley because of smaller Roundup margins. Overweight rating and $105 price target.

Motorola

(MOT)

estimates, target boosted at Barclays to $6. Estimates also raised, based on higher expected sales for new phones to be launched in the fourth quarter. Equal-weight rating.

Morgan Stanley

(MS) - Get Report

2009 estimates reduced at Barclays to reflect the TARP repayment. Equal-weight rating and $32 price target.

Microsoft

(MSFT) - Get Report

target raised at Oppenheimer to $29. Company could exceed near-term earnings results and the stock should benefit from multiple expansion. Outperform rating.

Paychex

(PAYX) - Get Report

estimates reduced at Merrill/BofA through 2011. Company cut guidance, based on a slower payroll business. Buy rating and $30 price target.

Supervalu

(SVU)

estimates reduced at UBS through 2011. Company warned of lower sales, despite increased promotion activity. Neutral rating and $15 price target.

Molson Coors

(TAP) - Get Report

estimates cut at UBS through 2010. Checks suggest lower US sales volume. Buy rating and $58 price target.

Textainer

(TGH) - Get Report

target increased at Credit Suisse to $12 from $10. Recent acquisitions of management contracts, expected growth from transactions, and an improvement in container traffic led to the raise in numbers. Maintained Outperform rating.

Weatherford International

(WFT) - Get Report

target raised at Goldman to $23 from $21. Clear visibility from recent project awards, secular growth for oil spending, and an upside potential from international markets including Iraq and Russia marks WFT as an industry favorite. Maintained Conviction Buy rating.

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