Change in Ratings


( AMLN) upgraded at Citigroup from Sell to Hold. $17 price target. Valuation call, as the company needs to see FDA approval of its LAR and the rejection of Novo's Iria for the stock to move higher.

Atmos Energy

(ATO) - Get Report

upgraded at Merrill to Neutral. $30 price target. Estimates also raised to reflect the company's increased regulatory outlook.

Avery Dennison

(AVY) - Get Report

downgraded at Credit Suisse to Neutral from Outperform based on weak end-market demand, FX headwinds and valuation. Lowered target price to $46 from $54.

Career Education

(CECO) - Get Report

upgraded at Morgan Stanley from Underweight to Equal-weight. $17 price target. Stock is down 22% over the past month, and pricing in poor fundamentals.

Dollar Tree

(DLTR) - Get Report

upgraded at JP Morgan from Neutral to Overweight. Company has strong sales momentum and a good balance sheet. Estimates also raised, aided by the repurchase program.

Jabil Circuit

(JBL) - Get Report

upgraded at Credit Suisse to Outperform from Neutral based on valuation and low expectations. Lowered target price to $10.50 from $17.


(KO) - Get Report

downgraded at Deutsche from Buy to Hold. $56 price target. Company will face lower volumes across the board and negative currency effects in the coming quarters.



upgraded at JP Morgan from Neutral to Overweight. Fertilizer problems have been overblown, and estimates were raised through 2008 because of higher expected Roundup profits.

Piedmont Natural Gas


downgraded at Merrill to Underperform. $29 price target. Valuation call, with the stock trading at a 44% premium to its peers.


(SANM) - Get Report

downgraded at Credit Suisse to Underperform from Neutral. Cites deteriorating economic outlook, negative channel checks and valuation. Lowered target price to $1.00 from $2.50.

Varian Medical

(VAR) - Get Report

downgraded at JP Morgan from Overweight to Neutral. Stock is already pricing in the company's strong market position. Macro outlook could hurt the entire industry.

Vulcan Materials

(VMC) - Get Report

downgraded at Goldman Sachs to Sell from Neutral based on valuation, weakness in U.S. state DOT budgets and exposure to US nonresidential markets. Lowered target price to $53 from $57.

Wells Fargo

(WFC) - Get Report

upgraded to Market Perform, Keefe Bruyette & Woods said. Scale from the


(WB) - Get Report

purchase will make the company a stronger bank.

Strategy Calls/Market Calls


(BLKB) - Get Report



( PROJ) and


(VMW) - Get Report

downgraded to Market Perform at Wachovia. Credit issues and the deteriorating economy continue to lead to negative channel checks.


(CLS) - Get Report


Benchmark Electronics

(BHE) - Get Report

were downgraded from Hold to Sell at Citigroup. No longer expect any organic sales growth in the industry next year, and excess capacity will breed increased competition.

Fairchild Semiconductor



RF Micro Devices


were downgraded to Sell at Citigroup. The rating on



was cut to hold, as field checks point to slower near-term sales.

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This article was written by a staff member of