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(ARRS) - Get ARRIS International Plc Report

downgraded at Friedman, Billings Ramsey from Outperform to Market Perform. $15 price target. CCBL purchase will likely dilute near-term earnings, which should hang over the stock for the next few quarters.

Briggs & Stratton

(BGG) - Get Briggs & Stratton Corporation Report

upgraded at Robert Baird from Underperform to Neutral. $29 price target. Stock is down 20% since earnings, and the stock is already beginning to reflect lower consumer spending.

Corn Products

( CPO) downgraded at BB&T from Buy to Hold. Stock is up about 18% over the past six weeks, and high corn costs are offsetting strong byproduct pricing.

Dean Foods

(DF) - Get Dean Foods Company Report

downgraded at Bear Stearnsfrom Overweight to Market-weight. Earnings could rebound in 2008, though conventional milk costs remain high. Estimates also lowered.

Denbury Resources

(DNR) - Get Denbury Resources Inc. Report

downgraded at Merrill Lynch from Buy to Neutral. Stock is up four times more than its peers, and the company faces higher near-term execution risk.



TheStreet Recommends

initiated at Jefferies with Buy rating. Price target starts at $25 with 2008 eps estimates at $1.02.

Heidrick & Struggles

(HSII) - Get Heidrick & Struggles International, Inc. Report

upgraded at Merrill Lynch from Sell to Neutral. Stock is down about 25% this month, and is already pricing in slower economic growth. New dividend also confirms the company's financial health.



upgraded at Merrill Lynchfrom Neutral to Buy. Company looks attractive at 7 times expected 2008 EBITDA, and buybacks should add materially to earnings. Sum of the parts valuation leads to a $35 price target.


(K) - Get Kellogg Company (K) Report

downgraded at Bear Stearns from Outperform to Peer Perform. Valuation call, as near-term price competition has likely stabilized with GIS.


(KFY) - Get Korn Ferry Report

upgraded at Merrill Lynchfrom Sell to Neutral. Stock is down 25% over the past month, and is largely already pricing in slower economic growth.

Marsh & McLennan

(MMC) - Get Marsh & McLennan Companies, Inc. (MMC) Report

downgraded at JP Morgan from Overweight to Neutral. Recent executive changes could suggest that a second half turnaround is not materializing. Estimates also cut.


(NVDA) - Get NVIDIA Corporation Report

initiated with Neutral rating at UBS. Price target starts at $37 with 2008 eps estimates at $1.18.


(PCAR) - Get PACCAR Inc Report

downgraded at JP Morgan from Overweight to Neutral. Valuation call, as the stock is up more than 30% since January. Estimates also cut, as the next industry pre-buy could be pushed out.

Sonic Solutions

( SNIC) upgraded at JP Morgan from Neutral to Overweight. Valuation is attractive, and estimates are also being raised ahead of the company's new Creator 10 software release.



(LOW) - Get Lowe's Companies, Inc. (LOW) Report

2009 estimates cut at Credit Suisse by 5 cents to $2.05 after company reduced guidance. Maintained Neutral rating.

Molson Coors

(TAP) - Get Molson Coors Brewing Company Class B (TAP) Report

numbers raised at UBS. Price target lifts to $112 from $106 and FY2008 eps estimates bump up to $6.28 from $6.24. Reiterates Buy rating.


Homebuilder price targets cut at Goldman Sachs: It is lowering its price targets on a number of homebuilders based on continuing weakness in the housing market. See price-to-book value multiples shrinking as investor sentiment remains negative.


target cut to $22 from $33;

KB Home

target lowered to $25 from $36.

Pulte Homes

target dropped to $26 from $22;

Beazer Homes

target slashed to $9 from $17;

D.R. Horton

target cut to $15 from $21; and


target reduced to $11 from $17.