Monday's Analysts' Upgrades and Downgrades - TheStreet

Monday's Analysts' Upgrades and Downgrades

Who made what calls.
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CHANGE IN RATINGS

Dean Foods

(DF) - Get Report

upgraded at Merrill Lynch from Sell to Neutral. Stock is now pricing in higher dairy costs and price competition in organic milk. Fair value lies around $31 or $32 a share.

FPL Group

(FPL) - Get Report

upgraded at Credit Suisse to Outperform from Neutral based on valuation. Stock has lagged sector by 15% year-to-date. Maintained $65 target price.

Hess

(HES) - Get Report

upgraded at Deutsche Bank to Buy. $78 price target. Now expecting oil to remain at $60 a barrel in the long-term, which should keep margins above average.

Motorola

(MOT)

upgraded at Deutsche Bank from Hold to Buy. Channel checks suggest the company's biggest struggles are over. $21 price target.

Marvell Technology

(MRVL) - Get Report

upgraded at UBS to Buy rating from Neutral. Price target jumps to $23 from $17, but FY 2008 eps estimates drop to $0.20 from $0.23.

Blue Nile

(NILE)

upgraded at Citigroup from Hold to Buy. Estimates also raised, as the company likely will report solid second quarter results early next month. $88 price target.

Nalco Holding

(NLC)

downgraded at Credit Suisse to Underperform from Neutral based on valuation. Sees limited upside following stocks robust performance. Maintained $24 target price.

Public Service Ent.

(PEG) - Get Report

downgraded at Credit Suisse to Neutral from Outperform based on valuation. Stock is up 11% over past month. Lowered target price to $95 from $96.

Phoenix Companies

(PNX)

upgraded at Keefe, Bruyette & Woods to Outperform from Market Perform. Valuation on company changed to a sum-of-the-parts methodology. $19 price target.

Schering-Plough

(SGP)

upgraded at JP Morgan to Neutral. Valuation call, as the stock has the lowest asset premium in the brokerage's universe.

JM Smucker

(SJM) - Get Report

downgraded at Merrill Lynch to Sell. Valuation call, as the stock is up 30% since February. Estimates also cut, as input costs are rising and price competition heats up.

SanDisk

(SNDK)

upgraded at CIBC to Sector Outperform from Sector Perform. NAND is on allocation, comps' costs are spiraling, visibility is improving, and the company's positioning is strengthening. Estimates raised. $65 price target.

Sandisk

(SNDK)

downgraded at UBS to Neutral rating from Buy. However, price target and 2008 eps estimates rise to $60 and $1.55 from $1.50, respectively.

Net 1 UEPS Technologies

(UEPS) - Get Report

upgraded at Robert Baird to Outperform from Neutral. Several offsets to any pricing concessions regarding the SASSA contract (new beneficiaries, lower tax rate, and several new initiatives). $33 price target.

Wellcare Health

(WCG) - Get Report

upgraded at Jefferies to Hold rating from Underperform. Price target jumps to $93 from $76 and 2008 eps estimates rise to $5.80 from $5.15.

STOCK COMMENTS / EPS CHANGES

Liz Claiborne

(LIZ)

target price raised at Credit Suisse to $50 from $45 based on potential turnaround story. Maintained Outperform rating.