Tuesday's Analysts' Upgrades and Downgrades - TheStreet

CHANGE IN RATINGS

Alliance Data

(ADS) - Get Report

downgraded at JP Morgan: ADS was downgraded to Neutral at JP Morgan. Abacus purchase should add to earnings, but MA offer better growth and visibility at current levels.

Build-A-Bear Workshop

(BBW) - Get Report

upgraded at Credit Suisse: Credit Suisse is upgrading BBW to Outperform from Neutral based on favorable risk/reward due to long-term earnings growth. Raises target price to $37 from $27.

Circuit City

(CC) - Get Report

downgraded at Goldman Sachs: Goldman is downgrading CC to Neutral from Buy based on valuation and competitive constraints. See modest risk/reward following stock's bounce since yearend and competitive pressures stemming from aggressive pricing at Best Buy. Target price at $23.

Ford Motor

(F) - Get Report

downgraded at Merrill: Rating on F was downgraded from Neutral to Sell at Merrill Lynch. Stock is up 30% from its December lows, and is already pricing in a profit recovery by the end of the decade.

General Motors

(GM) - Get Report

upgraded at Merrill: GM was upgraded from Sell to Buy at Merrill Lynch. $50 price target. Company should be able to leverage its pension to improve its overall finances.

Hansen Natural

( HANS) downgraded at JP Morgan: HANS was downgraded from Overweight to Neutral at JP Morgan. Stock is up 65% since November, and is also being taken off the Focus List. Fundamental thesis remains intact. $44 price target.

Hansen Natural downgraded at Goldman Sachs: Goldman is downgrading HANS to Neutral from Buy due to more appropriate valuation following recent share gains. See upside risk to consensus earnings forecasts for the second half of 2007. Price target at $46.

Level 3

(LVLT)

upgraded at Deutsche: LVLT was upgraded from Sell to Hold at Deutsche Bank. $5.40 price target. Company should meet the majority of its 2007 targets, though free cash flow expectations should prove aggressive.

Mastercard

(MA) - Get Report

upgraded at JP Morgan: MA was upgraded from Neutral to Overweight, JP Morgan . Estimates also raised to reflect blowout fourth quarter results. Growth in payment processing outweighs legal risks and fear of execution problems.

Red Hat

(RHT) - Get Report

upgraded at Jefferies: RHT upgraded to Buy rating from Hold at Jefferies. Price target jumps to $30 from $21. 2008 EPS estimate lifts to $0.71 from $0.67 and initiates 2009 estimate at $0.84.

STOCK COMMENTS / EPS CHANGES

Chemtura

(CEM) - Get Report

estimates lowered at Goldman: 2006 estimates on CEM cut to $0.38 from $0.46, Goldman . Company reported disappointing Q4 results attributed to continued weakness in non-flame retardant plastic additives and related products. See higher pricing only partially offsetting increased raw material costs. Maintained Neutral rating. Price target at $10.

Chattem

( CHTT) price target raised at Goldman: Goldman is upping its target on CHTT to $55 from $50.50 after company provided updated guidance for 2007. See shares fairly valued after strong run-up since announcement of JNJ deal in Oct. Maintained Neutral rating.

Lincare Holdings

( LNCR) numbers raised at Jefferies: LNCR numbers raised at Jefferies. Price target rises to $37 from $33 and 2007 EPS estimates bump up to $2.45 from $2.41. Reiterates Hold rating.

Priceline.com

(PCLN)

price target increased at Goldman: Target on PCLN raised to $55 from $49, Goldman . Company reported healthy Q4 gross bookings, revenue and earnings, bolstered by strong international results. Maintained Neutral rating.