Tuesday's Analysts' Upgrades and Downgrades

Who made what calls.
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CHANGE IN RATINGS

Aon

upgraded at Merrill: AOC was upgraded from Neutral to Buy, Merrill Lynch said. $38 price target. Warranty division sale will be accretive to the stock's multiple. Estimates cut, though the company also expects to start buying back stock.

Danaher

coverage initiated at Morgan Stanley:Morgan Stanley said it is initiating coverage on DHR with an Equalweight rating and a $70 target price. A long-term core holding but valuation looks inline.

Mylan Labs

downgraded at Wachovia: MYL was downgraded from Outperform to Market Perform, Wachovia said. Sustainable stock rally is unlikely in the coming months, because of increased generic Duragesic competition. Estimates also cut.

Principal Financial

upgraded at UBS: UBS upgraded PFG to Neutral from Reduce since it seems more fairly valued compared to its ROE outlook. Maintained $53 price target.

Prudential

upgraded at Merrill: PRU was upgraded to Buy, Merrill Lynch said. Stock over-reacted to a largely in-line quarterly report. Estimates cut, but remain above the consensus numbers. Company should be able to sustain 15% ROE.

Plains Exploration

upgraded at Credit Suisse: Credit Suisse said it is upgrading PXP to Outperform from Neutral following sale of assets in California and West Texas to Occidental Petroleum. Raised target price to $52 from $48.

Replidyne

coverage initiated at Morgan Stanley: Morgan Stanley said it is initiating coverage on RDYN with an Overweight rating. Target is $17 a share.

Tesoro Petroleum

upgraded at Deutsche: TSO was upgraded from Sell to Hold, Deutsche Bank said. BP shock may further tighten the West Coast refining market. $65 price target.

STOCK COMMENTS / EPS CHANGES

Bank of America

target raised at Goldman: Goldman said it is increasing its target on BAC to $60 a share from $58 a share. Maintained Buy rating on this stock.

Bill Barrett

outlook cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on BBG for the full year to 94 cents a share from $1.07 a share. Maintained Equalweight rating.

Citrix

target reduced at Jefferies: Jefferies said it is lowering its target price on CTXS to $30 from $35 due to acquisition of private Orbital Data. 2006 estimates reduced by 3 cents to $1.33 and reiterated Hold rating.

Dreamworks

target cut at Morgan Stanley: Morgan Stanley said it is lowering its target price on DWA to $22 a share from $27 a share. Maintained Equalweight rating.

Google

estimates increased at Jefferies: Jefferies said it is bumping up its 2007 estimates on GOOG by a penny to $14.10 due to yesterday's announced deal with Fox Interactive to provide search and advertising on Myspace.com. Reiterated Buy rating and $500 target.

JLG Industries

price target lowered at UBS: UBS lowered it price target on JLG to $22 from $24 citing a higher discount to the market multiple. Maintained Neutral rating.

Kindred Healthcare

target increased at Jefferies: Jefferies upped its price target on KND to $32 from $24 after company announced combination of Pharmacy Services unit with Amerisource Bergen's PharMerica Long-Term Care to create new public company. Uncertainty related to RTI study remains. Reiterated Hold rating.

McDermott

target raised at Jefferies: Jefferies said it is increasing its price target on MDR to $58 from $51 after company reported a robust Q2, including strong backlog and solid margins. 2006 estimates raised to $2.40 from $2.03 and reiterated Buy rating.

MGM

outlook lowered at Morgan Stanley: Morgan Stanley said it now see's MGM earning $1.94 a share in 2006, down from previous expectations for EPS of $2.01 a share. Target is $48 a share from $50 a share. Maintained Underweight rating.

Marvel Entertainment

estimates raised at Jefferies: 2006 estimates on MVL increased by 4 cents to $0.59, Jefferies said. Company reported better than expected Q2 and raised full year earnings guidance. Reiterated Buy rating and $25 target.

Priceline.com

outlook raised at Credit Suisse: Credit Suisse said it is raising its 2006 EPS estimates on PCLN by 4 cents to $1.74 following solid 2Q results. Raised target price to $39 from $34.

Priceline.com

estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on PCLN for 2006 to 77 cents a share from 64 cents a share. Maintained Overweight rating.

Tekelec

estimates raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates no TKLC for the full year to a loss of 26 cents a share from a loss of 31 cents a share. Maintained Equalweight rating.

United Rentals

price target reduced at UBS: UBS reduced its price target on URI to $35 from $43, 2006 estimates to $2.20 from $2.40 and 2007 estimates to $2.60 from $2.80. The company reported disappointing second quarter earnings. Reiterated Buy rating.