Tuesday's Analysts' Upgrades and Downgrades

Who made what calls.
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CHANGE IN RATINGS

Acuity Brands

(AYI) - Get Report

was downgraded to Hold at BB&T. Sees potential earnings upside, though still believes there is limited upside to the stock, given its current valuation.

Morgan Stanley downgrades

Cephalon

(CEPH)

from overweight to equalweight and moves price target to $77.

Morgan Stanley downgrades

JetBlue

(JBLU) - Get Report

from overweight to equalweight and removes its $18 price target.

Sandisk

(SNDK)

was downgraded from Outperform to Neutral at Robert Baird. $43 price target. New margin forecast makes the stock appear fully valued on 2008 estimates.

Sandisk numbers lowered at UBS. Price target shades down to $43 from $44. 2007 EPS estimates drop to $1.45 from $1.60. Reiterates Neutral rating.

Sunoco

(SUN) - Get Report

was upgraded from Hold to Buy at Deutsche Bank. $70 price target. Company has suffered from poor East Coast refining margins, but numbers are finally beginning to recover. In the meantime, the stock trades at the lowest valuation in the group.

STOCK COMMENTS / EPS CHANGES

Harley-Davidson

(HOG) - Get Report

estimates lowered at UBS. 2007 EPS estimates drop to $4.29 from $4.45 and 2008 estimates lowered to $4.70 from $4.85. Reiterates Neutral rating.

Psychiatric Solutions

(PSYS)

numbers raised at Jefferies. Price target jumps to $43.50 from $36.00 and 2007 EPS estimates bump up to $1.46 from $1.44. Reiterates Hold rating.