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Changes in Ratings

Advance Auto

(AAP) - Get Advance Auto Parts Inc. Report

is upgraded at JPMorgan. New CEO should help drive higher earnings growth through better capital allocation.

Abiomed

(AMBD)

coverage is initiated at UBS with a buy rating. Price target starts at $18 with fiscal year 2008 EPS estimates set at a -89 cents.

Avon Products

(AVP) - Get Avon Products, Inc. Report

is upgraded to a buy at Merrill Lynch, with a $46 price target. The company is cutting costs, and the U.S. business has remained resilient so far.

American Express

(AXP) - Get American Express Company Report

is downgraded at Merrill from neutral to sell. The company will struggle as consumer credit and spending will likely continue to deteriorate in the coming quarters.

AutoZone

(AZO) - Get AutoZone Inc. Report

is upgraded to neutral at JPMorgan. Management has improved execution, and the company appears to be on a clear path to double-digit annual earnings growth.

CA

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TheStreet Recommends

(CA) - Get CA, Inc. Report

is upgraded to buy from neutral at Goldman Sachs.Goldman said the upgrade is due to business momentum and potential for margin upside. The investment bank believes cash flow will catch up to robust net income growth in early 2008. Price target raised to $33 from $32.

Capital One

(COF) - Get Capital One Financial Corporation Report

is downgraded from overweight to underweight at Morgan Stanley, which moves its price target from $88 to $45.

Capital One was also downgraded from neutral to sell at Merrill. The stock has already been hit, but further market deterioration reduces the likelihood that the company could be bought.

Cintas

(CTAS) - Get Cintas Corporation Report

was upgraded from neutral to outperform at Robert Baird which set a $42 price target. Baird said the company has reached a cyclical inflection point, and the stock is likely to regain its premium earnings multiple.

Discover Financial

(DFS) - Get Discover Financial Services Report

is downgraded from neutral to sell at Merrill. The stock has the most downside potential in the group, because of its increased credit sensitivity.

Fresh Del Monte Produce

(FDP) - Get Fresh Del Monte Produce Inc. Report

coverage is initiated at Morgan Stanley with an overweight rating and a $38 price target.

Hansen Natural

( HANS) is initiated at UBS with a buy rating. Price target starts at $58, with FY 2008 EPS estimates set at $2.10.

Jabil Circuit

(JBL) - Get Jabil Inc. Report

is upgraded from neutral to outperform at Baird, with a $24 price target. Baird said that 70% of the company's end markets appear stable, and margins should improve through restructuring efforts.

Lennar

(LEN) - Get Lennar Corporation Class A Report

is downgraded to a hold rating at Deutsche Bank, as JV risk is likely to persist.

McAfee

( MFE) is downgraded from outperform to market perform at Friedman, Billings Ramsey. It's a valuation call, as the stock is up 40% on the year. FBR set a $43 price target.

Synopsys

(SNPS) - Get Synopsys Inc. Report

is upgraded from hold to buy at Deutsche Bank, which set a $32 price target. The company posted a strong quarter, and margins and operating cash flow should continue to grow. Estimates were also raised.

Sunpower

(SPWR) - Get SunPower Corporation Report

is upgraded to a buy rating from hold at Jefferies. Price target jumps to $170 from $105, and the FY 2008 EPS estimate lifts to $2.13 from $2.10.

Target

(TGT) - Get Target Corporation Report

is downgraded from buy to neutral at Banc of America, with a $56 price target. Recent sales trends have hurt margins and lowered the visibility for 2008.

Stock Comments / EPS Changes

Evergreen Solar

( ESLR) numbers are raised at Jefferies. Price target lifts to $12 from $10, and FY 2008 EPS estimates raised to a loss of 11 cents from a loss of 13 cents. Jefferies reiterates its hold rating.

Hexcel

(HXL) - Get Hexcel Corporation Report

numbers are raised at Jefferies. Price target lifts to $30 from $25, and FY 2008 EPS estimates upped to 93 cents from 90 cents. Reiterates buy rating.

Eli Lilly

(LLY) - Get Eli Lilly and Company Report

estimates are trimmed at Goldman to $3.92 from $3.95. Management introduced 2008 guidance of $3.85 to $4.00 at its annual analyst meeting. Note shift in Zyprexa patent expiry to November 20011 from April 2011. Maintained buy rating and $61 target.

Palm

( PALM) 2008 EPS estimates slashed at Credit Suisse, to a loss of 11 cents from a gain of 11 cents after company lowered FQ2 guidance. Sees benefits from rapid smartphone growth, but competition will continue to adversely affect market share and operating margins. Maintained neutral rating.