Ametek downgraded at Merrill: Merrill said it is lowering its rating on AME to Neutral from Buy. Shares have largely met its $45 target price. BellSouth upgraded at UBS: UBS said it is upgrading BLS to Buy from Neutral. Believes BLS is the preferred way to participate in AT&T's upside potential. Raised target price to $44. Celanese rated new Outperform at CSFB: CSFB said it is initiating coverage on CE with an Outperform rating after positive 4Q results. Sets $28 target price. Chipotle Mexican Grill coverage initiated at Merrill: Merrill said it is initiating coverage on CMG with a Neutral rating. EPS growth should offset moderating same store sales growth in 2006. Chipotle Mexican Grill coverage initiated at Morgan Stanley: Morgan Stanley said it is initiating coverage on CMG with an Equalweight rating. Powerful growth story but valuation is inflated. Conseco upgraded at Goldman: Goldman said it is increasing its rating on CNO to Outperform from Inline. See's 15% to 20% upside potential with delineated catalysts to boost shares. Darden coverage initiated at Merrill: Merrill said it is initiating coverage on DRI with a Neutral rating. See's limited potential for significant upward earnings revisions. Syneron Medical upgraded at CIBC: CIBC said it is upgrading ELOS to Sector Outperform after positive feedback from American Academy of Dermatology (ADD) conference. Sets $40 target price. Ensco upgraded at JP Morgan: ESV was upgraded from Neutral to Overweight, JP Morgan said. Jackup rates could move even higher in the near term, and the stock continues to trade at a discount to its peers. Nike downgraded at Susquehanna: Susquehanna said it is downgrading NKE to Neutral. Believes international prospects in 3Q will likely be weaker than expected. Penn National Gaming upgraded at JP Morgan: JP Morgan said it was upgrading PENN from Neutral to Overweight and raising FY 2007 EPS estimates from $1.95 to $2.30 citing the IL Gaming Board's favorable ruling and risk-reward scenario.