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Monday's Analysts' Upgrades and Downgrades

Who made what calls.


Applied Micro Circuits


upgraded at Morgan Stanley from underweight to equalweight and establishes $3.50 price target.

BEA Systems


upgraded at UBS from Neutral to Buy. $14 price target. Stock now looks cheap on an enterprise value basis, and the company's year-over-year comparisons get easier in the second half of 2007.

BEA Systems


upgraded at Bear Stearns to Outperform from Peer Perform based on valuation. Also sees improving markets in China. Sets $15 target price.


(CMA) - Get Comerica Incorporated Report

upgraded at Deutsche from Sell to Hold. $57 price target. Stock is cheap based on its historical average valuation and against its peers. Midwest assets currently given little to no valuation.


(DBD) - Get Diebold Nixdorf Incorporated Report

downgraded at Keybanc from Buy to Hold. Estimates also cut, as the company's election business faces considerable headwinds. Sale of the division is also unlikely.

DR Horton

(DHI) - Get D.R. Horton, Inc. Report

downgraded at JP Morgan to Neutral. Valuation call, though the stock is probably the best positioned to weather the current downturn.

Electronic Data Systems


upgraded at UBS from Reduce to Neutral. Stock is down 20% over the past month, though a fundamental turnaround is still likely a couple of quarters out. $24 price target.

Eagle Bulk Shipping

(EGLE) - Get Eagle Bulk Shipping Inc Report

upgraded at UBS from Neutral to Buy. $28.50 price target. Company will double its fleet with the recent Supramax purchase, and the dividend appears sustainable for the time being.


(ENR) - Get Energizer Holdings Inc Report

upgraded at SunTrust to Buy from Neutral. Cites strong growth potential in all business segments. Maintained $125 target price.


(FE) - Get FirstEnergy Corp. Report

upgraded at Deutsche Bank to Buy from Hold based on valuation and long-term opportunity in PJM power market. See potential to monetize balance sheet for share repurchases as capital spending cycle comes to a close. Price target at $71.

JP Morgan Chase

(JPM) - Get JPMorgan Chase & Co. (JPM) Report

upgraded at Deutsche Bank from hold to buy.


(JWN) - Get Nordstrom, Inc. (JWN) Report

upgraded at Piper to an Outperform rating as exposure to higher-income consumer should help limit downside.

Monster Worldwide

(MNST) - Get Monster Beverage Corporation (MNST) Report

upgraded at Wachovia to Outperform from Market Perform based on lower risk from slowing N.A. Careers business and marketing costs. See weakness confined to e-comm channel, while international growth remains very strong. Valuation range in the $44 to $46 area.

National Cinemedia

(NCMI) - Get National CineMedia, Inc. Report

upgraded at JP Morgan to Overweight. Valuation looks attractive following recent stock weakness, and the company should post better second half results.

TheStreet Recommends

National Cinemedia upgraded at Deutsche from Hold to Buy. $28 price target. Estimates also raised, given the company's improved visibility. New dividend is 25% higher than expected, and the new affiliation deal with Kerasotes should be very successful.

Overseas Shipholding

(OSG) - Get Overseas Shipholding Group, Inc. Class A Report

upgraded at Credit Suisse to Outperform from Neutral. Cites selloff is overdone with stock down 25% since mid-July. Raised target price to $85 from $82.

Sonic Automotive

(SAH) - Get Sonic Automotive, Inc. Class A Report

downgraded at Goldman Sachs to Neutral from Buy due to relative valuation vs. peers. Shares have held up better than rest of auto retailers but remain vulnerable to the challenging auto retailing environment. Price target at $33.



upgraded at UBS from Neutral to Buy. $34 price target. Valuation call, as the stock is down 17% over the past month, even though the company boosted its earnings forecast.

Sempra Energy

(SRE) - Get Sempra Energy Report

upgraded at Deutsche Bank to buy with a $63 price target.

US Bancorp

(USB) - Get U.S. Bancorp Report

upgraded from Sell to Hold at Deutsche Bank. $31 price target. The bank has a strong balance sheet, thanks to conservative loan underwriting.



upgraded at JP Morgan from Neutral to Overweight. Sales outlook should remain stable, and the stock looks inexpensive on a free cash flow multiple.



upgraded at Deutsche Bankfrom Hold to Buy. $24 price target. Surf Control deal is almost closed, and should significantly add to earnings.


American Repro.


cut from Focus List at JP Morgan. Stock has broken through stop-loss thresholds, down 20% since being added to the list. Valuation remains compelling. Overweight rating.

Las Vegas Sands

(LVS) - Get Las Vegas Sands Corp. (LVS) Report

target boosted at UBS to $110 a share. Positive opening for the Venetian Macau could help expand the multiple. Neutral rating.

Research in Motion


target upped at UBS to $280 a share. Estimates also raised through fiscal 2009, based on continued strong US demand. New product cycles are driving replacement sales. Buy rating.

Shaw Group


2008 numbers raised at UBS to $2.68 a share. Bookings remain strong, even though the company is two quarters behind on its financials. Neutral rating and new $56 price target.

Texas Instruments

(TXN) - Get Texas Instruments Incorporated Report

2008 numbers cut at UBS. Company will have a minor effect from the NOK licensing strategy. Buy rating and new $44 price target.



target price cut at Piper to $13 from $22 as liver toxicity is likely to stop HCV-796 development. Maintained Outperform rating.



price target lowered at Goldman to $52 from $53 based on the removal of two pipeline candidates, bifeprunox and HCV796. See inability for bifeprunox to differentiate on efficacy. Maintained Neutral rating.