Monday's Analysts' Upgrades and Downgrades - TheStreet

Monday's Analysts' Upgrades and Downgrades

Who made what calls.
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CHANGE IN RATINGS

Charter Communications

(CHTR) - Get Report

upgraded at Morgan Stanley from underweight to equalweight.

Caremark Rx

(CMX)

downgraded at Raymond James from Outperform to Market Perform. It does not expect to see more bidders, and CVS will likely not pay more than the mid-$60's.

Cypress Semiconductor

(CY) - Get Report

downgraded at UBS to Neutral rating from Buy at UBS. 2007 EPS remains at $0.52 and price target rises to $22 from $20.

Intersil

(ISIL)

upgraded at Friedman, Billings from Market Perform to Outperform. Inventory issues have been resolved, and channel checks suggest better order patterns. $32 price target.

Coca-Cola

(KO) - Get Report

upgraded at Deutsche from Hold to Buy. $57 price target. Company has lagged the market the last couple of years, and should be able to meet near-term growth targets.

Moody's

(MCO) - Get Report

downgraded at Credit Suisse to Underperform from Neutral based on concerns of a slowdown in CDO issuance. Lowered target price to $64 from $79.

McGraw-Hill

(MHP)

downgraded at Credit Suisse to Neutral from Outperform based on potential impact of fallout in the subprime/CDO market. Lowered target price to $71 from $77.

National Semi

(NSM)

upgraded at Raymond James fom Market Perform to Strong Buy. Company should see multiple and margin expansion over the next couple of years, led by new products.

National Semi upgraded at Friedman, Billings from Market Perform to Outperform. $32 price target. Inventory channel is working down, and February quarter will likely represent the bottom in the current cycle.

Red Hat

(RHT) - Get Report

upgraded at Goldman Sachs to Neutral from Sell due to less bearish view on revenue growth and lower tax rate. Seek continued risks, including move into software stack and competition from Oracle. 2007 estimates raised to $0.39 from $0.27. Price target at $27.

Research in Motion

(RIMM)

upgraded at RBC Capital from Sector Perform to Outperform. $180 price target. Company should continue to grow above trend in the coming quarters, and justify its premium valuation.

St. Jude

(STJ)

upgraded at Prudential from Underweight to Neutral. ICD implant trends are stable, and appear to be headed in a positive direction. $44 price target.

Supervalu

(SVU)

rated new Outperform at Credit Suisse. Credit Suisse said it is initiating coverage on SVU with an Underperform rating. Believes market does not fully appreciate robust earnings power and free cash flow potential. Sets $48 target price.

Stryker

(SYK) - Get Report

downgraded at Wachovia from Outperform to Market Perform. Stock is up 16% on the year, and are trading at 26 times expected full-year earnings.

STOCK COMMENTS / EPS CHANGES

Build-A-Bear Workshop

(BBW) - Get Report

estimates lowered at Credit Suisse. Credit Suisse said it is lowering its 2007 EPS estimates on BBW to $1.75 from $1.85 based on slightly lower operating margin. Maintained $37 target price.

Boyd Gaming

(BYD) - Get Report

price target increased at Goldman to $46 from $42 after company beat Q4 estimates. 2007 estimates raised to $2.00 from $1.95. Maintained Neutral rating.

Clear Channel Outdoor

(CCO) - Get Report

numbers raised at Jefferies. Price target lifts to $35 from $30 and 2007 EPS estimates rise to $0.72 from $0.64. Reiterates Buy rating.

Lowe's

(LOW) - Get Report

estimates increased at Goldman to $2.00 from $1.94, Goldman said. Company issued strong guidance of $2.02-$2.09 for 2007. Price target upped to $37 from $34 and maintained Buy rating.

Nokia

(NOK) - Get Report

price target higher at Goldman. Goldman said it is increasing its target on NOK to $26 from $24.70, based on increased confidence in sustainability of margins. See risk from Apple/Blackberry competition at high end, but believe brand is strong enough to avoid commoditization in mid- to low-end, especially in emerging markets. Maintained Buy rating.

United Health

(UNH) - Get Report

price target raised at Goldman to $51 from $47 based on more optimistic view of earnings growth in 2007 and 2008. See rebound in earnings but still view shares as overvalued relative to substantial company-specific risks. Maintained Sell rating.