Monday's Analysts' Upgrades and Downgrades - TheStreet

Monday's Analysts' Upgrades and Downgrades

Who made what calls.
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CHANGE IN RATINGS

Amerigroup

(AGP)

downgraded at Jefferies to Underperform from Hold. Price target lowered to $25 from $30 and 2007 EPS estimates drop to $1.65 from $1.93.

aQuantive

(AQNT)

was downgraded from Buy to Hold at Citigroup. Stock is up 32% on the year and now within 2% of the $33 price target. Call has no bearing on first quarter expectations, or possibility of a takeover.

Allegheny Energy

(AYE)

upgraded at Wachovia to Outperform. Company has solid earnings growth potential, despite a murky rate case outlook. Utility can continue to expand capacity over the next five years.

Bristol-Myers

(BMY) - Get Report

upgraded at Deutsche from Hold to Buy. $35 price target. Company may be able to sustain higher margins posted in the first quarter, led in the near term by Plavix sales. Estimates raised through the end of the decade.

Continental Airlines

(CAL) - Get Report

upgraded at Goldman Sachs to Buy from Sell based on valuation. Recent pullback in shares creates opportunity to benefit from lower Street expectations. $39 target price maintained.

Ciena

(CIEN) - Get Report

upgraded at Weisel from Market-weight to Overweight. Company should deliver accelerating growth through 2008, as it's in the midst of a major optical upgrade cycle.

Colgate-Palmolive

(CL) - Get Report

upgraded at AG Edwards from Hold to Buy. $75 price target. Company is cutting costs and also on track to deliver high single-digit organic sales growth through 2008.

Consolidated Edison

(ED) - Get Report

downgraded at Jefferies to Hold from Buy. Price target lowered to $53 from $57 and 2007 EPS estimates hold at $3.20.

FLIR Systems

(FLIR) - Get Report

downgraded at Bear from Outperform to Peer Perform. Valuation call, even though estimates are being raised to reflect solid sales growth.

WellCare Health Plans

(WCG) - Get Report

downgraded at Jefferies to Underperform from Hold. Price target lowered to $69 from $80 and 2007 EPS estimates hold at $4.20.

STOCK COMMENTS / EPS CHANGES

Allegheny Tech

(ATI) - Get Report

target price raised at Goldman to $115 from $98, based on expectations for higher stainless steel prices and better margins in Flat Rolled segment. See shares fairly valued despite strong aerospace cycle and titanium demand. Maintained Neutral rating.

Cameron International

(CAM)

numbers raised at Jefferies. Price target lifts to $79 from $70 and 2007 EPS estimates rise to $4.00 from $3.95. Reiterates Buy rating.

DryShips

(DRYS) - Get Report

numbers raised at Jefferies. Price target jumps to $50 from $32 and 2007 EPS estimates rise to $5.74 from $4.72. Reiterates Buy rating.

Lubrizol

(LZ)

numbers raised at Jefferies. Price target jumps to $68 from $65 and 2007 EPS estimates rise to $3.80 from $3.70. Reiterates Buy rating.

National Oilwell Varco

(NOV) - Get Report

2007 estimates raised at Goldman to $6.28 from $5.68, based on continuing earnings strength and healthy backlog. Target price increased to $90 from $81, and reiterated Buy rating.