Change in Ratings

Credit Suisse is initiating coverage on

General Cable


with a Neutral rating. See margin improvements driven by industrywide capacity constraints among cable manufacturers. See shares fairly valued relative to expected earnings growth of 30% in 2007 and 14% in 2008. Price target at $57.

Goldman is upgrading

Commercial Metals

(CMC) - Get Commercial Metals Company Report

to Buy from Neutral based on increasing earnings from scrap recycling. See attractive growth in both Poland and the U.S. Price target at $35.

Grant Prideco

( GRP) was upgraded from Peer Perform to Outperform at Bear Stearns. $65 price target. Recent takeovers in the sector have raised the valuation bar for the group.

Hansen Natural

( HANS) was upgraded from Neutral to Overweight at JP Morgan. Valuation looks attractive following the recent pullback, and the new distribution deals should help expand the company's reach.


(HUM) - Get Humana Inc. (HUM) Report

coverage initiated with an Outperform rating at Credit Suisse. See demise of Medicare Advantage as exaggerated, and believe low but accelerating MA penetration rates and favorable demographic trends create engine for revenue and earnings growth. Commercial managed care segment has stabilized and is poised for margin improvement. Price target at $70.

Newfield Exploration


was upgraded from Hold to Buy at KeyBanc. $50 price target. Key projects should begin sooner than expected, and production estimates have been raised across the board.

Pioneer Natural Resources

TheStreet Recommends

(PXD) - Get Pioneer Natural Resources Company Report

was upgraded from Market Perform to Outperform at Friedman Billings Ramsey. $70 price target. Company should create value from spinning off its upstream reserves into an MLP.

Steel Dynamics

(STLD) - Get Steel Dynamics, Inc. Report

upgraded to Buy rating from Neutral at UBS. Price target upped to $50 from $40 and 2007 EPS estimate raised to $4.05 from $3.95.

Rating on

U.S. Steel

(X) - Get United States Steel Corporation Report

was cut from Buy to Neutral at Merrill Lynch. Valuation call, with the stock fully valued at 11 times expected 2008 earnings. A slowdown in nonresidential construction could also cut into future demand.

X upgraded to Neutral rating from Reduce at UBS. Price target lifts to $105 from $62 and 2007 EPS estimate rises to $9.05 from $7.80.

Stock Comments/EPS Changes

Price target on

A.G. Edwards

( AGE) increased to $73 from $69 at Goldman. Company delivered solid fourth-quarter results that were above consensus estimates. See higher investment banking run rate and lower compensation to net revenue assumptions going forward. Maintained Sell rating.

Goldman is adding

Reliance Steel

(RS) - Get Reliance Steel & Aluminum Co. Report

to its Americas Conviction Buy List, based on a more positive view of steel and metals pricing during 2007 and into 2008. See diversified product mix, wide geographic footprint and strong demand in key end markets. Price target raised to $60 from $54.



target lowered at Jefferies. Price objective lowered to $11 from $12 and 2007 EPS estimates hold at $0.39. Reiterates Buy rating.