Thursday's Analysts' Upgrades and Downgrades

Who said what on Wall Street.
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Changes in Ratings

Cognos

(COGN)

was upgraded to Overweight at JPMorgan. Underlying demand for the company's software and services is strong. Margins should also benefit from the Applix acquisition.

Dick's Sporting Goods

(DKS) - Get Report

initiated at UBS with Buy rating. Price target starts at $80, and full-year 2008 EPS estimates begin at $2.53.

Forest Labs

(FRX)

upgraded to Buy rating from Hold at Jefferies. Price targets lifts to $50 from $43, and full-year 2008 EPS estimates hold at $3.26.

General Mills

(GIS) - Get Report

upgraded to Buy rating from Neutral at UBS. Price target holds at $65, while full-year 2008 EPS estimates lift to $3.47 from $3.45.

HLTH

(HLTH)

was downgraded from Outperform to Market Perform at Friedman Billings Ramsey. Stock is up 20% over the past month, and expectations are high for the company in the second half of the year.

Lululemon

(LULU) - Get Report

initiated at UBS with Neutral rating. Price target starts at $37, and full-year 2008 EPS estimates begin at $0.29.

Marathon Oil

(MRO) - Get Report

was upgraded from Underperform to Market Perform at Bernstein. $55 price target. Estimates also raised, to reflect a rebound in refining margins.

Northeast Utilities

(NU)

was downgraded from Overweight to Neutral at JPMorgan. Valuation call. Company has limited catalysts, and WEC looks better at current levels.

Goldman is downgrading

Radiation Therapy

(RTSX)

to Neutral from Buy due to risk from continued lack of visibility on earnings and timing of margin improvement. Price target cut to $30 from $33.

Sunoco

(SUN) - Get Report

was upgraded from Underperform to Market Perform at Bernstein. $70 price target. Estimates also boosted to reflect a rebound in refining margins.

Tibco Software

(TIBX)

was downgraded to Neutral at Merrill Lynch. Estimates also cut, as the company posted disappointing license growth in the August quarter. Weakness is both because of macro issues and execution issues.

Tesoro

(TSO)

was upgraded from Underperform to Market Perform at Bernstein. $49 price target. Estimates also increased to reflect a rebound in refining margins.

Goldman is removing its Not Rated designation from

Universal American

(UHCO)

and reinstating the company with a Buy rating. See compelling valuation and upside potential to estimates on operating leverage from Medicare growth and pending MemberHealth acquisition. Price target at $24.

Valero

(VLO) - Get Report

was upgraded from Underperform to Market Perform at Bernstein. $66 price target. Refining margins appear to have bottomed out.

Wisconsin Energy

(WEC) - Get Report

was upgraded from Neutral to Overweight at JPMorgan. Favor the stock over Northeast Utilities, as WEC has the potential for more rate base growth, a lower valuation and a more favorable regulatory environment.

Stock Comments/EPS Changes

Credit Suisse said it is lowering its 2008 EPS estimates on

Apple

(AAPL) - Get Report

to $4.50 from $4.66 based on new iPhone pricing and softer-than-anticipated iPhone demand. Maintained Outperform rating.