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Monday's Analysts' Upgrades and Downgrades

Who made what calls.




upgraded at CIBC: CEPH was upgraded to Outperform, CIBC said. $89 price target. Strong Fentora and Provigil sales should offset any weakness at Actiq.

Express Scripts


upgraded at JP Morgan: ESRX was upgraded from Neutral to Overweight, JP Morgan said. Initial 2007 guidance, due out tomorrow, could be a positive catalyst. Looking for 20% annual growth.



downgraded at Morgan Stanley: ESV was downgraded to Underweight, Morgan Stanley said. $58 price target. Valuation call. Estimates and target moving higher, because of continued strength in the international jack-up market.


(GCI) - Get Gannett Co., Inc. Report

upgraded at Merrill: GCI was upgraded from Neutral to Buy, Merrill Lynch said. $65 price target. Company will likely boost dividend in the near term, but also has other potential ways to increase shareholder value.

Grant Prideco


upgraded at Morgan Stanley: GRP was upgraded to Overweight, Morgan Stanley. Estimates also raised, to reflect the improving natural gas market. $54 price target.

Plains Exploration

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downgraded at Morgan Stanley: PXP was downgraded to Equal-weight, Morgan Stanley said. $49 price target. Market is already beginning to price in Gulf of Mexico success and the potential for share buybacks.

RF Micro


upgraded at CIBC: RFMD was upgraded from Sector Perform to Outperform, CIBC said. $9 price target. Company to benefit from new NOK products as well as PS3 sales in 2007.


(SAND) - Get Sandstorm Gold Ltd. Report

downgraded at UBS: UBS said it is downgrading SNDK to Neutral from Buy based on likely 2006/2007 NAND oversupply. Lowered target price to $55 from $75.


(SWKS) - Get Skyworks Solutions, Inc. Report

downgraded at Weisel: SWKS was downgraded from Outperform to Peer Perform, Thomas Weisel said. MOT delaying orders, as it switches to EDGE technology. Competition also heating up for Samsung.



upgraded at Morgan Stanley: THE was upgraded to Overweight, Morgan Stanley said. $50 price target. Estimates also upped, as jack-up rates should soon recover in the Gulf of Mexico.



(A) - Get Agilent Technologies, Inc. Report

estimates lowered at Goldman: Goldman said it is reducing its 2007 estimates on A by 20 cents to $1.85 to account for Verigy distribution. Semiconductor test business distributed as special dividend to shareholders. Maintain Neutral rating and $35 target.


(BMY) - Get Bristol-Myers Squibb Company Report

estimates cut at Morgan Stanley: BMY estimates lowered through 2007, Morgan Stanley said. Company meeting did not improve outlook for Plavix. Equal-weight rating and $25 price target.



outlook lowered at UBS: UBS said it is reduced its 2006 EPS estimates on LUM to $1.07 from $1.90 to reflect lower origination. Lowered target price to $11.50 from $12.



estimates raised at Piper: Piper said it is raising its 2007 estimates on SIRF by 4 cents to $1.10 a share based on growing comfort with company's longer-term growth opportunities. Maintained Outperform rating.