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CHANGE IN RATINGS

Avnet

(AVT) - Get Report

upgraded at Brean Murray from Hold to Buy. $33 price target. Company had a strong quarter, and should continue to build upon this momentum in 2010.

Avery Dennison

(AVY) - Get Report

upgraded at UBS AVY was upgraded from Sell to Neutral. $35 price target. Stock looks attractive, following the recent selloff. Estimates also boosted, to reflect better pricing.

Baldor Electric

( BEZ) upgraded at UBS from Sell to Neutral. $25 price target. Estimates have come down to a more reasonable level and visibility is beginning to improve.

Constellation Energy

( CEG) upgraded at Barclays to Overweight from Equal Weight on valuation and strong cash position. Price target increased by a dollar to $39. 2009 EPS estimate trimmed to $3.27, 2010 raised to $3.28.

Church & Dwight

(CHD) - Get Report

initiated at Barclays with an Equal Weight rating and $62 price target. 2009 and 2010 EPS estimates introduced at $3.43 and $3.90, respectively.

Comerica

(CMA) - Get Report

upgraded at Morgan Stanley from Equal-weight to Overweight. $45 price target. Company should benefit from a more stable credit environment.

Centene

(CNC) - Get Report

reinstated at BofA/Merrill with a Neutral rating and $23 price target. Long term potential strong, but short term we are reserved, Bank of America/Merrill Lynch said. 2009 and 2010 EPS estimate set at $1.93 and $1.74, respectively.

Calpine

(CPN)

upgraded at Barclays to Equal Weight from Underweight as cost controls and margins should drive shares. Price target raised to $11. 2009 and 2010 EPS estimates jumped to $0.25 and $0.06, respectively.

Eastman Chemical

(EMN) - Get Report

upgraded at JP Morgan from Neutral to Overweight. $70 price target. Estimates also raised, to reflect higher expected profits in coatings, adhesives and plastics.

Equity Residential

(EQR) - Get Report

upgraded at Credit Suisse to Neutral from Underperform on valuation and 2011 catalysts. Price target surged to $33 from $23.

FirstEnergy

(FE) - Get Report

downgraded at Barclays to Equal Weight from Overweight on valuation. Price target sunk to $46. 2009 and 2010 EPS estimates maintained at $3.31 and $3.64, respectively.

First Horizon

(FHN) - Get Report

downgraded at Morgan Stanley from Overweight to Equal-weight. $16 price target. Valuation call, as the company has limited earnings visibility.

Hubbell

(HUB.B)

upgraded at Oppenheimer from Perform to Outperform. $53 price target. Market is not giving credit to sustainable margin gains.

Ingram Micro

(IM)

upgraded at Needham from Hold to Buy. $21 price target. Stock is attractively valued ahead of an imminent recovery in IT spending.

Lubrizol

( LZ) downgraded at Citi to Sell from Hold after one of their main competitors, NewMarket, reported a decline in operating margins. 2009 EPS estimate maintained at $7.30, 2010 cut to $6.74. Price target falls to $67 from $78.

Mirant

( MIR) downgraded at Barclays to Underweight from Equal Weight as the company will face declining cash flow and earnings over the coming years. Price target sunk to $12 from $15. 2009 and 2010 EPS estimates set at $3.97 and $1.26, respectively.

Noble

(NE) - Get Report

upgraded at FBR from Market Perform to Outperform. $50 price target. Stock has underperformed, even though the company reported a good quarter.

Palm

( PALM) rated new Neutral at Merriman. Company will need to sign more carriers and develop more applications to ultimately be successful in the smartphone business.

RRI Energy

(RRI)

downgraded at Barclays to Equal Weight from Overweight on concerns over coal prices. Price target cut to $5 from $7.50. 2010 EPS estimate lowered to -$0.11.

VF Corp.

(VFC) - Get Report

rated new Neutral at Goldman. $77 price target. Stock is already pricing in solid earnings growth potential.

Vertex Pharma

(VRTX) - Get Report

upgraded at Oppenheimer from Perform to Outperform. $47 price target. Expect positive data flow from phase 3 trials of telaprevir.

STOCK COMMENTS / EPS CHANGES

Arch Coal

(ACI) - Get Report

numbers lowered at Goldman. Shares of ACI now seen reaching $27. Estimates also cut, to reflect higher unit costs and lower met coal prices. Neutral rating.

Airgas

(ARG)

numbers reduced at BofA/Merrill. ARG price target sunk to $49 after disappointing 3Q results. 2010 and 2011 EPS estimates reduced to $2.67 and $2.95, respectively. Market reaction was overdone. Reiterate buy rating.

Cliffs Natural

(CLF) - Get Report

numbers boosted at FBR. Shares of CLF now seen reaching $54. Estimates also raised, to reflect higher expected iron ore prices. Outperform rating.

Chevron

(CVX) - Get Report

estimates cut at UBS through 2010. Company is seeing lower downstream margins. Buy rating and $92 price target.

Dover

(DOV) - Get Report

estimates increased at Morgan Stanley. DOV estimates were raised through 2011. Company has strong sales momentum heading into the new year. Overweight rating and $50 price target.

Fortune Brands

( FO) estimates increased at Goldman through 2012. Expect a return to growth in the Home business. Buy rating and $52 price target.

Corning

(GLW) - Get Report

estimate increased at Barclays. GLW 2011 EPS estimate introduced at $1.95, 2010 set at $1.80. Reiterate Overweight rating and $23 price target.

Goodrich

( GR) estimates, target cut at Goldman. Shares of GR now seen reaching $76. Estimates also reduced, because of lower aftermarket sales. Buy rating.

Hexcel

(HXL) - Get Report

estimates, target lowered at Goldman. HXL estimates were reduced through 2011. Margins will be hurt by lower industrial growth. Neutral rating and new $13 price target.

Interpublic

(IPG) - Get Report

estimate trimmed at Credit Suisse. IPG 2011 EPS estimate lowered to 45 cents, 2009 and 2010 maintained at 22 and 32 cents, respectively. Reiterate Neutral rating and $6.50 price target.

MasterCard

(MA) - Get Report

estimate higher at Barclays. MA 2009 EPS estimate lifted to $11.43 from $11.29, 2010 maintained at $13.60. Reiterate Overweight rating and $272 price target.

MasterCard

(MA) - Get Report

estimates, target raised at Goldman. Shares of MA now seen reaching $302. Estimates also increased, to reflect higher expected sales and operating margin. Buy rating.

Motorola

( MOT) estimate reduced at Credit Suisse. MOT 2010 EPS estimate sunk to 35 cents, 2011 maintained at 63 cents. Long term story intact despite lower near term guidance. Reiterate Outperform rating and $10 price target.

News Corp.

(NWSA) - Get Report

numbers raised at Morgan Stanley. NWSA estimates were increased through 2011. Avatar doing well, and television should benefit from improving cyclical trends. Equal-weight rating and new $15 price target.

Occidental Petroleum

(OXY) - Get Report

price target reduced at Barclays. OXY price target lowered to $94 from $97 after 4Q10 results. Maintain Overweight rating.

Paccar

(PCAR) - Get Report

estimates, target raised at UBS. PCAR estimates were increased through 2010. Company is seeing better margins, with a higher production outlook. Sell rating and new $33 price target.

Pfizer

(PFE) - Get Report

estimates boosted at Barclays. PFE 2009 and 2010 EPS estimates raised to $2.02 and $2.24, respectively. Reiterate Overweight rating and $21 price target.

Pfizer

(PFE) - Get Report

target boosted at Morgan Stanley. Shares of PFE now seen reaching $22. Expect the company to trade at a higher multiple. Overweight rating.

Polo Ralph Lauren

(RL) - Get Report

numbers boosted at UBS. Shares of RL now seen reaching $92. Estimates also raised, following strong channel checks. Buy rating.

Viacom

(VIA.B)

estimates, target boosted at Morgan Stanley. Shares of VIA.B now seen reaching $32. Estimates also increased, to reflect a better US advertising market. Underweight rating.

This article was written by a staff member of TheStreet.com.