StreetNotes: A Daily Roundup of Street Research

Who made what calls.
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CHANGE IN RATINGS

Agrium

downgraded at CSFB: CSFB said it is downgrading AGU to a Neutral rating due to expected weaker demand for fertilizer.

Allstate

upgraded at Bear: Bear said it is upgrading ALL to an Outperform rating due to more constructive regulatory environment, auto profitability, and expected multiple expansion.

Cal Dive

upgraded at Jefferies: Jefferies said it is upgrading CDIS to a Buy rating due to unique growth strategy, should generate robust earnings over next several years.

CNX

upgraded at Morgan Stanley: Morgan Stanley said it is increasing its rating on CNX to Overweight from Underweight with an $80 price target.

Cogent

downgraded at Jefferies: Jefferies said it is downgrading COGT to an Underperform rating as 2006 estimates likely to come down due to near completion of US-VISIT.

Genzyme

downgraded at Bear: Bear said it is downgrading GENZ to a Peer Perform rating after discovering Medicare plans to dramatically cut reimbursement for Synvisc in 2006.

Horizon Lines

coverage initiated at UBS: UBS said it is initiating coverage on HRZ with a Neutral rating. Target of $24.

McAfee

upgraded at Jefferies: Jefferies said it is upgrading MFE to a Hold rating as stock is unlikely to pull back.

STOCK COMMENTS / EPS CHANGES

Apple

target raised at UBS: UBS said it is increasing its target price on AAPL to $74 a share from $65 a share. iPod still music to its ears and Intel Macs could come early.

Bear Stearns

outlook raised at BofA: BofA said it is increasing its target on BSC to $127 a share, or 1.7 times its 12 month book value estimate. Maintained Buy rating.

Cendant

outlook cut at Morgan Stanley: Morgan Stanley said it is lowering its estimates on CD for the full year to $1.09 a share from $1.10 a share. Ebookers revenue declined sequentially and is still losing money.

Caremark

outlook raised at BofA: BofA said it is increasing its estimates on CMX for the full year to $1.95 a share from $1.92 a share. Continues to like the PBM sector.

Dominion Resources

outlook raised at Citigroup: Citigroup said it is increasing its estimates on D for 2006 to $6.10 a share from $5.40 a share due to recovery timing assumptions.

Entercom

outlook raised at Citigroup: Citigroup said it is increasing its estimates on ETM for 2005 to $1.71 a share from $1.67 a share. Maintained Buy rating.

Hartford Financial Services

estimates raised at CSFB: CSFB said it is raising its 2005 estimates on HIG by 18 cents to $7.57 a share. Maintained Outperform rating.

KeySpan

outlook raised at Goldman: Goldman said it is increasing its estimates on KSE for the full year to $2.45 a share from $2.35 a share. The improvement was driven largely by the Electrical Services agreement.

Lincoln Educational

outlook raised at BofA: BofA said it is increasing its estimates on LINC for 2005 to 71 cents a share from 63 cents a share. New student struggle persists.

Morgan Stanley

outlook cut at BofA: Morgan Stanley said it is lowering its estimates on MWD for 2005 to $4.29 a share from $4.51 a share. Target cut to $62 a share. Noisy Q4 may create buying opportunity. Maintained Buy rating.

NPS Pharma.

outlook raised at Citigroup: Citigroup said it is raising its estimates on NPSP for 2005 to a loss of $4.16 a share from a loss of $5.15 a share. Preos is an approvable product, Citigroup said.

Red Hat

outlook raised at UBS: UBS said it is increasing its target price on RHAT to $29.50 a share from $24 a share. Got to like the trend of absolute spend.

Scientific Games

outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on SGMS to $1.05 a share from $1.04 a share. Third quarter follow up. Long-term story intact.

Symmetry

outlook cut at BofA: BofA said it is lowering its estimates on SMA for the full year to 91 cents a share from 94 cents a share. SMA does pass on most material costs.

Toyota

target raised at Prudential: Prudential said it is raising its target price on TM to $100. Maintained Overweight rating.

TXU

outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on TXU for the full year to $6.54 a share from $6.45 a share.

Washington Post

estimates cut at Prudential: Prudential said it is cutting its 2005 estimates on WPO to $28.90 a share to reflect another weak quarter. Maintained Neutral Weight rating.