Tuesday's Analysts' Upgrades and Downgrades - TheStreet

CHANGE IN RATINGS

DirecTV

(DTV)

upgraded at Citigroup to Buy from Hold. Highly probable that Liberty Capital will acquire the company within the next twelve months. $30 price target.

FormFactor

(FORM) - Get Report

downgraded at JP Morgan from Neutral to Underweight. Company will likely lose market share to Micronics Japan over the coming quarters, as the competitor's new factory is ramping production.

Micron

(MU) - Get Report

upgraded to Buy rating from Hold at Jefferies. Price target jumps to $17 from $12, and FY 2008 eps estimates turn positive to $0.10 from loss of $(0.01).

Principal Financial Group

(PFG) - Get Report

upgraded at Bernstein to Outperform from Market Perform. With a stronger growth outlook for the company's asset accumulation segments along with an attractive valuation, the company's future appears positive. Price target raised to $74 from $65.

PNM Resources

(PNM) - Get Report

upgraded at Citigroup to Hold from Sell. Several negative catalysts have pressured the shares -- down 8.5% YTD. Risks seem to be reflected in lower valuation. $28.50 price target.

Scotts Miracle-Gro

(SMG) - Get Report

upgraded at JP Morgan to Overweight. Company warned recently, reflecting poor April weather. Estimates also cut, though the stock tends to outperform during its off-season. Company also generates significant free cash flow.

STOCK COMMENTS / EPS CHANGES

ConocoPhillips

(COP) - Get Report

numbers raised at UBS. Price target lifts to $93 from $88 and FY 2008 eps estimates bump to $10.50 from $9.73. Reiterates Buy rating.

Darden

(DRI) - Get Report

numbers raised at UBS. Price target lifts to $53 from $52 and FY 2008 eps estimates bump to $2.80 from $2.79. Reiterates Buy rating.

Fannie Mae

( FNM) added to Top Pick list at Friedman, Billings Ramsey. Fundamentals are improving, including an improved business mix. The company has also boosted its MBS market share to 49.5%. Outperform rating and $85 price target.

Marathon Oil

(MRO) - Get Report

numbers raised at UBS. Price target lifts to $66 from $65 and FY 2008 eps estimates bump to $6.53 from $6.44. Reiterates Neutral rating.

Sempra Energy

(SRE) - Get Report

target price raised at Credit Suisse to $62 from $52 based on recent trading partner announcement, impressive backlog and other potential catalysts. Maintained Neutral reting.

STRATEGY CALLS / MARKET CALLS

Morgan Stanley initiates coverage of teen retailers with an equalweight rating on Aeropostale and American Eagle Outfitters, and an underweight on Urban Outfitters and Abercrombie and Fitch.

JP Morgan upgraded Ford and GM to Overweight, given recent positive labor actions. GM was also added to the Focus List, with a $50 price target. Major UAW changes could still take 12-18 months to materialize.