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Wednesday's Analysts' Upgrades, Downgrades

See who made what calls.

Change in Ratings

Costco

(COST) - Get Free Report

downgraded at Goldman Sachs to neutral from buy due to valuation. Note outpreformance vs.

S&P 500

and valuation vs. five-year average. See risk/reward as less compelling. Price target at $71.

Golar LNG

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downgraded at Jefferies to a hold rating from buy. Price target holds at $25 while fiscal-year 2008 EPS estimates dip to 30 cents from 37 cents.

Tenet Healthcare

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upgraded at Jefferies to buy rating from hold. Price target lifts $4.50 from $3 and fiscal-year 2008 EPS estimates raised to -2 cents from -8 cents.

Ultra Petroleum

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downgraded at JPMorgan from overweight to neutral. Business is good, but the company has little leverage to natural gas, and margins can't move much higher from here.

Xilinx

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upgraded at UBS to buy rating from neutral. Price target lifts $27 from $24.50 and fiscal-year 2008 EPS estimates hold at $1.28.

Stock Comments/EPS Changes

AutoZone

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target increased at Goldman to $139 from $130. Earnings were well ahead of estimates despite unsuccessful promotions. Maintained buy rating.

CBS

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estimates raised at Morgan Stanley through 2009. Company seeing higher profits at the outdoor segment, and TV margins could also improve. Equal-weight rating and $26 price target.

Herbalife

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target raised at Goldman to $53 from $50 following strong fourth-quarter results. Revenue and earnings both ahead of expectations and guidance was above consensus. Maintained buy rating.

Masimo

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target price raised at Deutsche Bank from $39 to $41 following solid fourth-quarter results and 2008 guidance.

Office Depot

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estimates cut at Deutsche Bank by 32 cents to 91 cents a share as company is seeing deterioration in all segments. Maintained hold rating.

This article was written by a staff member of TheStreet.com Ratings.