Thursday's Analysts' Upgrades and Downgrades

Who made what calls.
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CHANGE IN RATINGS

Franklin Resources

(BEN) - Get Report

was downgraded from Overweight to Neutral at JP Morgan. Investment thesis has largely played out, and poor performance of the Templeton funds could hurt fund flows.

Compuware

(CPWR)

was downgraded from Outperform to Market Perform at Piper Jaffray. $10 price target. Company is executing poorly, and still has drastic restructuring efforts to make.

Centex

(CTX)

was downgraded from Buy to Neutral at Merrill Lynch. Estimates also cut, as new home sales are expected to fall 25% this year.

City National

(CYN)

was upgraded from Underperform to Market Perform at Friedman, Billings Ramsey. Company has expanded its net interest margin through low-cost deposits. $75 price target.

Domino's Pizza

(DPZ) - Get Report

was downgraded from Outperform to Peer Perform at Bear Stearns. Stock has reached fair value, and estimates were cut as a result of the recapitalization plan.

Energizer

(ENR) - Get Report

was upgraded from Underweight to Neutral at Prudential. $90 price target. Despite rising zinc prices, the sales mix is shifting toward higher margin specialty products.

Eaton Vance

(EV) - Get Report

was upgraded from Neutral to Overweight at JP Morgan. Consensus estimate looks too low, and large fee income stream and presence in risk-managed funds add to its stability.

JC Penney

(JCP) - Get Report

was added to the Focus List at JP Morgan. Company hosted an impressive analyst meeting, and management's strategy should lead to higher margins, earnings and share price over the next several quarters. Overweight rating.

NCI Building Systems

(NCS) - Get Report

was upgraded to Buy rating from Neutral at UBS. Price target upped to $57 from $53, and 2007 EPS estimates hold at $4.10.

Smith Micro

(SMSI) - Get Report

downgraded to Hold rating from Buy at Jefferies. Price target drops to $21 from $24, and 2007 EPS estimates lowered to $0.95 from $0.98.

STOCK COMMENTS / EPS CHANGES

Goldman is lowering its target price on

AMR

(AMR)

to $29 from $32. Believes shares are fully priced based on labor headwinds and the price of oil. Maintained Neutral rating.

CSX

(CSX) - Get Report

target price raised at Credit Suisse to $50 from $40. Cites that Q1 numbers were light but positive secular growth still intact. Maintained Outperform rating.

eBay

(EBAY) - Get Report

target price raised at Goldman to $43 from $40. Cites stable organic growth, emerging revenue and key drivers improving. Maintained Buy rating.

Goldman is raising its 2007 EPS estimates on

JP Morgan

(JPM) - Get Report

to $4.68 from $4.20 to account for solid Q1 results. Raised target to $56 from $52.

Goldman is raising its target price on

Linear Technologies

(LLTC)

to $39 from $36 based on announcement of $3 billion buyback. Says fundamental view remains unchanged and maintained Neutral rating.

Goldman is raising its target price on

United Technologies

to $76 from $73 based on late-cycle strength and higher international exposure. Maintained Buy rating.