Convergys upgraded at CSFB: CSFB said it is upgrading CVG from Neutral to Outperform citing catalysts in the near-term. Raised target price to $22 from $16. Del Monte Foods downgraded at CSFB: CSFB said it is downgrading DLM to Neutral from Outperform Believes latest deal will not improve growth profile. Lear downgraded at Prudential: Prudential said it is downgrading LEA to a Neutral Weight rating based on valuation and re-evaluation of 2007 cash flow outlook. QLogic downgraded at CSFB: CSFB said it is downgrading QLGC to Neutral from Outperform. Stock essentially reached its $21 target price. Sempra Energy downgraded at Morgan Stanley: Morgan Stanley said it was downgrading SRE from Equal-weight to Underweight on valuation. CANTV upgraded at Morgan Stanley: Morgan Stanley said it was upgrading VNT from Underweight to Overweight and raising the target by $4 to $20 on valuation. Wendy's upgraded at Prudential: Prudential said it is upgrading WEN to a Neutral Weight rating due to near-term catalysts such as Baja Fresh divestiture, Tim Hortons IPO, and new products. World Wrestling Ent. upgraded at Jefferies: Jefferies said it was upgrading WWE from Hold to Buy, raising FY 2006 EPS estimates from $0.54 to $0.63 and lifting the target from $16 to $17.90 on turnaround prospects and fiscal Q3 results.
STOCK COMMENTS / EPS CHANGES
Abercrombie estimates cut at Piper: Piper said it is cutting its 2007 estimates on ANF by 4 cents to $4.40 a share. Maintained Outperform rating. American Reprographics estimates raised at Goldman: Goldman said it is raising its 2006 estimates on ARP by 10 cents to $1.25 a share due to strong outlook for non-residential construction. Maintained In-Line rating. Cooper Industries target price raised at CSFB: CSFB said it is raising its target price on CBE to $91 from $88. Believes portfolio is well positioned. Maintained Outperform rating. Ciena target, estimates raised at Jefferies: Jefferies said it was raising FY 2006 EPS estimates by a penny to -$0.05 and raising the target on CIEN from $2.25 to $3.50 on fiscal Q1 results. Maintained Underperform rating.