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Tuesday's Analysts' Upgrades and Downgrades

Who made what calls.
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CHANGE IN RATINGS

Alcoa

(AA)

downgraded at RBC: AA was downgraded from Sector Perform to Underperform at RBC Capital. Valuation call, as the shares have already responded positively to the company's announced downstream restructuring.

Cooper Cos.

(COO)

downgraded at Bear: COO was downgraded from Peer Perform to Underperform at Bear Stearns. According to industry contacts, problem with Biofinity product is likely related to material, rather than manufacturing.

Dril-Quip

(DRQ)

downgraded at UBS: DRQ downgraded to Neutral rating from Buy on valuation concerns at UBS. However, bumps up price target to $46 from $45.

Micron

(MU)

downgraded at JP Morgan: MU was downgraded from Overweight to Neutral at JP Morgan. Despite positive DRAM environment, there are concerns about growing NAND flash inventory. 2007 estimates cut.

Nokia

(NOK)

downgraded at Oppenheimer: NOK was downgraded from Buy to Neutral at Oppenheimer. Estimates also cut as TXN discussed a slowdown in the wireless sector last night.

Standard Pacific

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TheStreet Recommends

(SPF)

downgraded at UBS: SPF downgraded to Neutral rating from Buy at UBS. Maintains $28 price target.

Texas Instruments

(TXN)

upgraded at JP Morgan: TXN was upgraded from Neutral to Overweight at JP Morgan. Lower guidance was expected, but margins appear to be bottoming. Stock is attractive to buy, despite lower near-term earnings.

Texas Instruments

(TXN)

estimates cut at Prudential: Prudential is cutting its 2006 estimates on TXN by 4 cents to $1.63 a share following mid-quarter update. Maintained Overweight rating.

Texas Instruments

(TXN)

estimates lowered at Goldman Sachs: Goldman is decreasing its 2006 estimates on TXN to $1.56 from $1.61 after company lowered guidance. Noted broad-based softness, including wireless and high-performance analog. Maintained Sell rating and $26 target.

Texas Instruments

(TXN)

numbers lowered at Jefferies: TXN numbers lowered at Jefferies. Price target drops to $36.00 from $40.00. 2007 earnings estimates lowered to $1.77 from $1.86. Reiterated Buy rating.

Texas Instruments

(TXN)

estimates lowered at Credit Suisse: Credit Suisse is lowering its 2007 EPS estimates on TXN to $1.67 from $1.89 after company lowered guidance. Remains bullish long-term. Lowered target price to $40 from $42.

STOCK COMMENTS / EPS CHANGES

Comcast

(CMCSA)

numbers raised at UBS: CMCSA numbers raised at UBS. Price target lifts to $50 from $47. 2008 EPS estimates raised to $1.20 from $1.17. Reiterated Buy rating.

Harley-Davidson

(HOG)

target lowered at UBS: Harley Davidson target lowered at UBS. Price target drops to $73 from $76. Reiterated Neutral rating.

Accredited Home Lenders

(LEND)

estimates cut at Piper: Piper is cutting its 2007 estimates on LEND by 65 cents to $3.60 a share to reflect tough subprime lending environment. Maintained Market Perform rating.

STRATEGY CALLS / MARKET CALLS

Metals Industry targets updated at Goldman Sachs: Goldman said it is reiterating its attractive coverage view on the metals sector and raising its targets on a number of copper and aluminum plays. See continuing mergers and acquisition activity, and stronger cash flows in the sector. Price target on Alcan raised to $56 from $48, Freeport McMoran to $75 from $66, Phelps Dodge to $138 from $105, and Alcoa to $32 from $30.

Morgan Stanley upgrades selected REITs:Morgan Stanley upgrades select REITs to overweight. Company upgrades Public Storage, Highwoods Properties, Taubman Centers and Brookfield Properties.