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Change in Ratings

Comverse Tech

( CMVT) was upgraded from Neutral to Overweight at JPMorgan said. New CEO can turn around margins in the CNS segment. Stock also continues to look attractive on a possible breakup.


( CYTC) was downgraded from Buy to Neutral at Suntrust Robinson Humphrey. Valuation call, as the stock is up 45% over the past year.

Rating on

Dominion Resources


cut from Buy to Neutral at Merrill Lynch. Valuation call, following the spinoff of some E&P assets.



was upgraded from Market Perform to Outperform at Wachovia. NYBOT fees are moving higher, and the company will start trading physical NGX contracts in the third quarter.

JB Hunt


upgraded from Neutral to Outperform at Baird. $34 price target. Intermodal trends remain strong, and the company has committed to buy back $500 million of its stock.

Lyondell Chemical

( LYO) was upgraded from Neutral to Overweight at JPMorgan. Company looks inexpensive on its double-digit free cash flow yield.

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was downgraded from Buy to Hold at Deutsche Bank. $35 price target. Valuation call, as the market is already pricing in strong paperboard markets and the company's rising land value.



was upgraded from Sector Perform to Outperform at CIBC. $38 price target. Water margins are improving for the first time in five years, and fundamentals are generally improving.



was upgraded to Buy, Merrill Lynch said. Company posted solid fourth quarter results, as consumer spending remains healthy and the data management business is recovering.

SYMC upgraded to Buy rating from Hold at Jefferies. Price target rises to $21 from $17, and 2007 EPS estimates upped to $1.00 from $0.95.

Stock Comments/EPS Changes

American Capital Strategies


numbers lowered at Jefferies. Price target drops to $50 from $55 and 2007 EPS estimates revised down to $3.48 from $3.98. Reiterates Buy rating.

Circuit City


numbers lowered at UBS. Price target drops to $20 from $24 and 2007 EPS estimates revised down to $0.45 from $0.66. Reiterates Buy rating.

2007 estimates on

JDS Uniphase


cut to $0.18 from $0.26 at Goldman. Company reported lower than expected Q3 results and provided guidance well below Street expectations. See difficult near term environment due to customer consolidation and lean inventory management. Target price lowered to $17 from $19.50 and maintained Neutral rating.

Credit Suisse is lowering its 2007 EPS estimates on

Jones Apparel


to $2.00 from $2.40. Sees ongoing challenges ahead. Maintained Underperform rating.

Goldman is increasing its target on



to $62 from $57, based on recent results that show company is on pace to exceed long-term growth goals. See EBIT growth coming in above 6%-8% goal thanks to healthy macroeconomic environment, increased emphasis on global productivity and small boost from bottler recovery. Maintained Buy rating.

Goldman is lowering its 2007 estimates on

Las Vegas Sands


to $1.45 from $1.70 due to weaker than expected results at Macau. Miss driven by higher labor and admin expenses, higher marketing expenses to maintain market share, and more revenues from lower margin VIP rather than mass market. Maintained Buy rating and $106 target.

Credit Suisse is lowering its 2007 EPS estimates on


( PSPT) to 32 cents from 47 cents after company lowered its guidance. Maintained Outperform rating.