CHANGE IN RATINGS

Advance Auto Parts upgraded at Piper: Piper said it is upgrading AAP to an Outperform rating as valuation provides attractive entry point. Expectations reflect tough comparisons.

Crown Holdings upgraded at Keybanc: CCK was upgraded to Buy, Keybanc said. $22 price target. Feel more confident of a pricing recovery in Europe. Company has best geographic footprint in the industry.

Chico's FAS downgraded at Prudential: Prudential said it is downgrading CHS to an Underweight rating based on valuation and rising risk profile. Target is $40.

Ceradyne downgraded at Friedman, Billings, Ramsey & Co.: Friedman, Billings, Ramsey & Co. said it was downgrading CRDN from Market Perform to Underperform on valuation. Maintained $46 target.

Cablevision upgraded at UBS: UBS said that it is upgrading CVC to Buy as benefits of bundled success accrue to public shareholders. Raised target price to $32 from $28.50.

Dana Corp. target slashed at Deutsche Bank: Deutsche Bank said it was reducing the target on DCN from $2.50 to zero on bankruptcy risks. Maintained Sell rating.

Fresh Del Monte downgraded at Bear: Rating on FDP was lowered from Peer Perform to Underperform, Bear Stearns said. Estimates also cut, as price competition has suddenly accelerated.

Manulife Financial upgraded at Bear: MFC was upgraded from Underperform to Peer Perform, Bear Stearns said. Estimates also raised, as the US annuity and Asia (ex-Japan) markets are very strong.

Medco Health upgraded at Wachovia: MHS was upgraded to Outperform, Wachovia said. Estimates also raised, as the company should be able to ride momentum throughout 2006.

O'Reilly Automotive downgraded at Piper: Piper said it is downgrading ORLY to a Market Perform rating based on valuation. Shares up 30% in four months, fundamentals remain intact.

OmniVision downgraded at Needham: Needham said it is downgrading OVTI to Hold. Despite strong F3Q 2006 results, cites margin concerns over longer-term. Sees shares fairly valued at $28.

OmniVision target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on OVTI from $1.46 and $1.34 to $1.56 and $1.45 respectively and raising the target by $3 to $23 on yesterday's earnings call. Maintained Hold rating.

OmniVision upgraded at CIBC: CIBC said it is upgrading OVTI to Sector Outperform after superb F3Q 2006 results. Sets $32 target price.

Progressive downgraded at Merrill Lynch: Merrill Lynch said that it is downgrading PGR to Sell. Believes limited top line growth and likelihood of margin deterioration will make EPS growth a challenge.

PNM Resources downgraded at Wachovia: Wachovia said that it is downgrading PNM to Market Perform. Believes shares are fairly valued in the mid-20's range.

RSA Security upgraded at Baird: Baird said it was upgrading RSAS from Neutral to Outperform and raising the target by $3 to $19 on strong growth prospects.

Wachovia downgraded at Morgan Stanley: Morgan Stanley said it is lowering its rating on WB to Equal-weight from Overweight after stock's recent strong performance. Raised price target by $1 to $58.

STOCK COMMENTS / EPS CHANGES

ADC Telecom target raised at Jefferies: Jefferies said it was raising the target on ADCT from $22.50 to $25 on fiscal Q1 results. Maintained Hold rating.

ADC Telecom estimates raised at UBS: UBS said it is raising 2007 EPS estimates on ADCT by 8 cents to $1.24. Despite disappointing FY 1Q results, outlook remains healthy. Raised target price by $1 to $27.

American Eagle estimates raised at Goldman: AEOS estimates raised to $2.05 a share in 2006 and $2.25 for next year, Goldman Sachs said. Company continues to deliver solid sales growth, and the buyback program should also add to earnings.

American Eagle estimates raised at Prudential: Prudential said it is raising its 2007 estimates on AEOS by 9 cents to $1.98 a share due to improved outlook for 2006. Maintained Neutral Weight rating.

Alliant Techsystems estimates lowered at Jefferies: Jefferies said it was lowering FY 2006 EPS estimates on ATK from $4.57 to $4.22 on debt refinancing announcement. Maintained $81 target and Buy rating.

Genentech outlook lowered at UBS: UBS said it is lowering 2007 EPS estimates on DNA to $2.67 from $2.80. Believes shares should trade inline with average biotech company. Lowered price target to $110 from $115.

F5 Networks target price raised at Piper: Piper said it is raising its target price on FFIV to $78 following company visit and higher confidence in March quarter results.

Goldman Sachs estimates raised at Prudential: Prudential said it is raising its 2006 estimates on GS by 65 cents to $12.20 a share due to expectations for a strong quarter due to market positioning. Maintained Overweight rating.

Liz Claiborne estimates lowered at UBS: UBS said it is lowering 2006 EPS estimates on LIZ to $2.65 from $3.10 to account for unusual items related to restructuring and investments. Maintained Buy rating.

Loews estimates, target raised at Goldman: Shares of LTR now expected to reach $114, according to Goldman Sachs. Estimates also boosted, to reflects higher earnings contribution from the CNA and DO holdings. In-Line rating.

National Semiconductor estimates raised at UBS: UBS said it is raising 2006 EPS estimates on NSM by 2 cents to $1.22. Sees strong orders ahead. Maintained Buy rating.

Oregon Steel target, estimates raised at Jefferies: Jefferies said it was raising FY 2007 EPS estimates on OS from $4.75 to $5 and raising the target by $3 to $50 on Q4 results. Maintained Buy rating.

Oregon Steel outlook raised at UBS: UBS said it is raising 2006 EPS estimates on OS to $5.15 from $4.55. Sees better plate outlook and margin expansion. Raised target price to $43 from $37.

Petsmart target price raised at Piper: Piper said it is raising its target price on PETM to $33 to reflect better than expected Q4 results.

Rowan Cos. estimates raised at Jefferies: Jefferies said it was raising FY 2006 and 2007 EPS estimates on RDC from $3.43 and $4.76 to $3.47 and $5.12 respectively on Q4 results. Maintained Buy rating and $51 target.

Scientific Games target raised at Jefferies: Jefferies said it was lowering FY 2006 EPS estimates on SGMS by 20-cents to $1.32 but raising the target by $1.50 to $39.50. Maintained Buy rating.

Saks estimates lowered at UBS: UBS said it is lowering 2006 EPS estimates on SKS to 39 cents from 48 cents. Believes execution will be hard to improve. Maintained Reduce rating.

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