CHANGE IN RATINGS

ADC Telecom

( ADCT) upgraded at Robert Baird from Neutral to Outperform. $19 price target. Company should be able to exceed second half expectations, based on stronger spending at BLS and Cingular.

Aflac

(AFL) - Get Report

downgraded at Morgan Stanley from overweight to equalweight and moves price target to $59.

Briggs & Stratton

(BGG) - Get Report

downgraded at Baird to Underperform from Neutral. The company reported a significant shortfall in EPS and provided a disappointing outlook. Management lowered guidance despite winning an incremental 400 thousand units from Tecumseh. Price target $29.

Chemed

(CHE) - Get Report

upgraded at Deutsche Bank to Buy from Hold. Reported strong second quarter results and increased 2007 earnings guidance. Predict upside from current levels with modest risk from macro conditions given company's business mix. $71 price target.

Cox Radio

( CXR) upgraded at Smith Barney from Sell to Hold. Stock has dropped about 20% on the year, already reflecting slower expected growth. Buyback pace has also slowed $13 price target.

DirectTV

(DTV)

upgraded at Credit Suisse to Neutral from Underperform. Cites company is cheap with good near-term fundamentals. rasied target price to $25 from $21.

Brinker

(EAT) - Get Report

upgraded at JP Morgan from Neutral to Overweight. Estimates also raised to reflect higher sales and improved margins.

Emulex

(ELX)

upgraded at Friedman, Billings, Ramsey to Outperform. The company guided the September quarter below consensus due to inventory build up by two large customers. This inventory will now be factored into estimates. $22 price target.

Family Dollar

(FDO)

downgraded at Oppenheimer from Buy to Neutral. Weak sales demand has muted the effect of improved merchandising and store-level efficiency.

Flowserve

(FLS) - Get Report

downgraded from Outperform to Market Perform at Friedman, Billings Ramsey. Valuation call, based on a $78 price target. Fundamentals remain strong.

Holly

( HOC) upgraded at Deutsche Bank from Sell to Hold. $58 price target. Valuation call, as refining margins are quickly pulling back from peak levels.

Helmerich & Payne

(HP) - Get Report

upgraded at Credit Suisse to Neutral from Underperform based on valuation. Shares are down 13% following strong quarterly results last week. Maintained $34 target price.

Henry Schein

(HSIC) - Get Report

downgraded at Morgan Stanley from overweight to equalweight as it believes positive fundamentals are more than discounted in current valuation.

Healthways

(HWAY)

downgraded at Goldman to a Sell rating due to valuation concerns.

Lexmark Price Target

(LXK)

lowered at UBS. Price target lowered to $36 from $44. Maintains 2007 EPS estimate of $2.07 and Sell rating.

Magellan Health Services

(MGLN) - Get Report

upgraded at Credit Suisse to Outperform from Neutral based on valuation. Shares are down 15% in the last three weeks. Raised target to $50 from $49.

Marathon Oil

(MRO) - Get Report

upgraded at Smith Barney to Buy. $70 price target. Upstream business is essentially valued for free at current levels.

Noble

(NE) - Get Report

upgraded at Credit Suisse to Outperform from Neutral based on valuation and emerging catalysts in deepwater markets. Maintained $129 target price.

NVIDIA

(NVDA) - Get Report

downgraded at Merrill Lynch to Neutral from Buy. Stock has appreciated sharply over the past six months. Current price fairly reflects the company's earnings potential over the next 12-18 months.

Pacer

(PACR)

upgraded at UBS to Buy from Neutral. Cites worst case scenario is already priced-in. Maintained $26 target price.

Phoenix Companies

(PNX)

upgraded at UBS to Buy from Neutral based on valuation. Cites stock is a likely takeout candidate. Maintained $16.50 target price.

Sapient

(SAPE)

downgraded at Piper Jaffray to Market Perform from Outperform. Company's operating margin targets appear to be a stretch given capacity constraints in North America and Rupee appreciation headwinds. Price target lowered to $7 from $10.

Sapient downgraded at Piper to a Market Perform rating as margin recovery will likely happen in 2009 rather than 2008.

Zoran

( ZRAN) upgraded at JP Morgan from Neutral to Overweight. Stock has sold off 22% since reporting strong second quarter results, and the company can post 11% annual earnings growth through the end of the decade.

STOCK COMMENTS / EPS CHANGES

Barrick Gold

(ABX)

removed from Goldman's Americas Conviction Buy List due to lack of near-term catalysts. Buy rating reiterated.

Aeropostale

(ARO)

target price lowered at Piper to $44 to reflect a lower multiple due to lack of visibility. Maintained Outperform rating.

DTS

(DTSI)

target price raised at Piper from $21 to $25 as shares deserve to trade at a premium. Maintained Market Perform rating.

Limelight Networks

(LLNW) - Get Report

2008 numbers cut at Piper to 10 cents a share due to guidance and competitive environment. Target cut to $9.

Polo Ralph Lauren

(RL) - Get Report

2008 estimates cut at Goldman from $4.09 to $3.70 a share to reflect non-cash amortization and higher tax rate. Maintained Buy rating.

Seagate

(STX) - Get Report

added to Goldman's Americas Conviction Buy List as hard drive checks indicate strong demand with moderation in pricing.

Sun Microsystems

(SUNW) - Get Report

removed from Goldman's Americas Conviction Buy List as other names have more short-term appreciation potential. Maintained Buy rating.

STRATEGY CALLS / MARKET CALLS

Managed Care sector upgraded at Goldman to Attractive from Neutral as selected names can return 10% to 15% into early 2008. Buy-rated names include

WLP

,

HUM

,

CI

and

AGP

.