Analysts' Upgrades, Downgrades: Sirius - TheStreet

Change in Ratings

Altera

(ALTR) - Get Report

downgraded at Jefferies to underperform from hold. Price target lowered to $17 from $19. Maintains 2008 EPS estimates of $1.07.

Ansys

(ANSS) - Get Report

downgraded at Jefferies from hold to buy. 2008 EPS estimates raised to $1.60 from $1.57. Maintains $48 price target.

Comerica

(CMA) - Get Report

upgraded at Keefe, Bruyette and Woods to outperform with a $32 price target. NPL's and NCO's are expected to continue to rise and the conservative credit culture and strong capital will sustain the company's dividend.

Cintas

(CTAS) - Get Report

upgraded at Citigroup to hold from sell with a $27.50 price target. After a 20% decline in share value this year the stock is now approaching its fair value. Fourth quarter 2008 EPS lowered to 55 cents from 57 cents and fiscal year 2009-2010 estimates reduced by 5 cents each to reflect the impact of high energy costs, costs of international expansion and a recent faculty fire.

Community Health Systems

(CYH) - Get Report

upgraded at Citigroup to hold from sell with a $33 price target. The stock is trading just below its $33 price target and the risk/reward is now viewed as more limited. It is also believed that CYH will meet second-quarter 2008 estimates.

Fortune Brands

( FO) downgraded at Wachovia to market perform. Cost pressures from steel and particle board look to have offset cost saving initiatives deferring these potential benefits

Genzyme

( GENZ) initiated at UBS with a buy rating and $86 price target. Introduces 2008 EPS estimates of $3.48.

Interpublic Group

(IPG) - Get Report

downgraded at Deutsche to hold with a $10 price target. A slowing ad market could possibly delay the company's ability to get peer-level margins.

Cramer: What Merrill Upgrade Means for XM-SIRI

var config = new Array(); config<BRACKET>"videoId"</BRACKET> = 1641204009; config<BRACKET>"playerTag"</BRACKET> = "TSCM Embedded Video Player"; config<BRACKET>"autoStart"</BRACKET> = false; config<BRACKET>"preloadBackColor"</BRACKET> = "#FFFFFF"; config<BRACKET>"useOverlayMenu"</BRACKET> = "false"; config<BRACKET>"width"</BRACKET> = 265; config<BRACKET>"height"</BRACKET> = 255; config<BRACKET>"playerId"</BRACKET> = 1243645856; createExperience(config, 8);

Lam Research

(LRCX) - Get Report

upgraded at Credit Suisse to outperform from neutral based on valuation. Believes cyclical fundamentals are bottoming. Raised target price to $45 from $35.

New York Times

(NYT) - Get Report

upgraded at Deutsche to hold from sell with a $15 price target. The current valuation relative to peers is justified through the company's long-term growth prospects. Fiscal year 2008 EPS estimate dropped to 91 cents from $1.02 due to increased forecast for the cost of newsprint.

Sanmina-SCI

(SANM) - Get Report

upgraded at RBC to sector perform rating from underperform. Price target and fiscal year 2009 EPS estimates hold at $1.50 and 26 cents, respectively.

Spectra Energy

(SE) - Get Report

initiated at UBS with a buy rating and $35 price target. Introduces 2008 EPS estimates of $2.04.

Sirius Satellite Radio

(SIRI) - Get Report

upgraded at Merrill to buy from neutral with $2.70 price target. Buy rating was initiated due the stock's current price weakness and a bullish management guidance for 2009. Weak auto sales present a short-term risk, but should only have a minor impact on long-term value.

Timken

(TKR) - Get Report

downgraded at Merrill to underperform from neutral with a $28 price target. 2008/09 EPS lowered to $2.85/$3.20 from $3.05/$3.47 to reflect high exposure to the automotive sector.

Xilinx

(XLNX) - Get Report

downgraded at Jefferies to underperform from hold. Price target lowered to $21 from $23. Fiscal 2009 EPS estimates raised to $1.47 from $1.42.

Stock Comments/EPS Changes

Cabot Corp.

(CBT) - Get Report

numbers lowered at Jefferies. Price target lowered to $27 from $35. 2008 EPS estimates lowered to $1.40 from $1.70. Maintains hold rating.

eBay

(EBAY) - Get Report

estimates raised at Goldman Sachs by a penny to $1.75 based on listings tracking and channel checks. Note stronger-than-expected listings offset by lower-than-expected conversion rates. Maintained buy rating and $38 target.

Embraer

(ERJ) - Get Report

target price cut at Credit Suisse to $38 from $55 based on weaker global economic prospects and higher oil prices. Maintained neutral rating.

Forest Oil

(FST)

numbers raised at Jefferies. 2008 EPS estimates raised to $4.40 from $3.60. Price target raised to $93 from $75. Maintains buy rating.

KB Home

(KBH) - Get Report

numbers lowered at UBS. 2008 EPS estimates lowered to -$5.25 from -$2.85. Price target lowered to $19 from $22. Maintains neutral rating.

Legg Mason

(LM) - Get Report

numbers lowered at Jefferies. Fiscal 2009 EPS estimates lowered to $3.10 from $4.37. Price target lowered to $48 from $57. Maintains hold rating.

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