CHANGE IN RATINGS

Bank of America

(BAC) - Get Report

downgraded at UBS:UBS said it is downgrading BAC to Neutral from Buy citing 2007 earnings downside and cautious sector view. Lowered target price to $55 from $61.

Lennar

(LEN) - Get Report

downgraded at UBS:UBS said it is downgrading LEN to Neutral from Buy. Believes its operation strategy will lead to peer relative underperfomance. Lowered target price to %45 from $58.

Micron Tech

(MU) - Get Report

upgraded at JP Morgan:MU was upgraded from Neutral to Overweight, JP Morgan said. Outlook for DRAM pricing continues to improve, and margins should soon follow.

ResMed

(RMD) - Get Report

downgraded at Wachovia:RMD was downgraded to Market Perform, Wachovia said. Company facing difficult year-over-year sales comps, beginning in September. Estimates also appear too high over the next couple of quarters, as competition is heating up.

Sierra Pacific

(SRP)

upgraded at Deutsche:SRP was upgraded from Hold to Buy, Deutsche Bank said. $16.50 price target. Company will need to raise less equity for required infrastructure building.

Textron

(TXT) - Get Report

upgraded at Prudential:Prudential said it is upgrading TXT to an Overweight rating due to recent price decline. Target price remains $94.

Under Armour

(UARM)

upgraded at WeiselUARM was upgraded to Outperform, Thomas Weisel said. Company is extending its brand across new markets, and also executing to its growth plan.

STOCK COMMENTS / EPS CHANGES

Apple

(AAPL) - Get Report

estimates raised at Credit Suisse:Credit Suisse said it raising its 2007 EPS estimates on AAPL to $2.64 from $2.44. Channel checks indicate strong growth in MacBook shipments. Maintained $90 target price.

Continental Airlines

(CAL) - Get Report

estimates lowered at Morgan Stanley:CAL estimates reduced through 2008, according to Morgan Stanley. Company realizing higher unit costs. Equal-weight rating and $32 price target.

CSX

(CSX) - Get Report

added to Focus List at JP Morgan:CSX was added to the Focus List, JP Morgan said. Overweight rating and $42 price target. Recent transition to volume growth could mean that significant turnaround is underway.

Halliburton

(HAL) - Get Report

estimates boosted at Morgan Stanley:HAL estimates raised through 2008, Morgan Stanley said. Company recently said it plans to buy back more shares. Equal-weight rating.

KLA-Tencor

(KLAC) - Get Report

price target raised at Goldman Sachs:Goldman said it is upping its target on KLAC to $50 from $43 based on adjustment of period during which normalized EPS is calculated (to 2005-2008). Reiterated Buy rating.

Leap Wireless

(LEAP)

target price increased at Jefferies:Jefferies said it is raising its target on LEAP to $70 from $46, based on strong position in youth market. See strong free cash flow growth driven by improved operating performance, new market launches, lower churn, and higher ARPUs. Reiterated Buy rating.

Lennar

(LEN) - Get Report

estimates reduced at Morgan Stanley:LEN estimates cut through 2007, Morgan Stanley said. Company's latest warning was driven by land value adjustments and price discounting. Equal-weight rating and $31 price target.

PNC Financial

(PNC) - Get Report

estimates cut at Morgan Stanley:PNC estimates lowered through 2008, Morgan Stanley said. Company sold its $6 billion securities book, though the move does not change the bank's overall outlook. Overweight rating and $76 price target.

TJX Companies

(TJX) - Get Report

target price raised at Credit Suisse:Credit Suisse said it is raising its target price on TJX to $32 from $29 based on strong momentum and easier comparisons. Maintained Outperform rating.

STRATEGY CALLS / MARKET CALLS

Investment Bank estimates lowered at Goldman:Goldman said it is lowering its Q3 estimates on the I Banks based on challenging capital markets environment. BSC estimates lowered $0.60 to $2.80, LEH lowered 5 cents to $1.55, and MS also down 5 cents to $1.55.

UBS lowers outlook on US Banks:UBS said it is lowering its estimates on CBH, NCC, PNC, FITB, HBAN, KEY and TCB based on inverted yield curve and weak deposit trends.