Altiris upgraded at Deutsche Bank: Deutsche Bank said it is upgrading ATRS to Buy citing emerging growth opportunities. Raised target price to $26 from $20. Comverse Technology downgraded at Baird: Baird said it was downgrading CMVT from Outperform to Neutral and lowering the target by $4 to $28 on option accounting overhang. Eclipsys upgraded at Jefferies: Jefferies said it was upgrading ECLP from Hold to Buy and raising FY 2006 and 2007 FY EPS estimates from $0.58 and $0.93 to $0.60 and $1 on valuation and turnaround progress. Maintained $27.50 target. HealthSprings rated new Neutral at UBS: UBS said it is initiating coverage on HS with a Neutral rating. Sees solid earnings performance in 2006 but remains cautious on outlook for Medicare Advantage going into 2007. Sets $21 target price. Palm downgraded at JP Morgan: JP Morgan said it is downgrading PALM to Neutral from Overweight. Believes shares are approaching appropriate value and sees near-term risk that consensus expectations for F4Q are too high. Penn National Gaming initiated at Bear Stearns: Bear Stearns said it was initiating coverage on PENN with an Outperform rating and a $46 target citing a favorable risk-reward scenario. PMC-Sierra upgraded at UBS: UBS said it is upgrading PMCS to Buy from Neutral citing stronger telecom and storage prospects. Raised target price to $15 from $11. Pioneer Natural Resources downgraded at CSFB: CSFB said it is downgrading PXD to Underperform from Neutral citing rising costs. Reduced target price to $34 from $47. Shanda downgraded at Piper: Piper said it is downgrading SNDA to an Underperform rating as transition to a media company limits visibility.
STOCK COMMENTS / EPS CHANGES
Automatic Data estimates lowered at Morgan Stanley: Morgan Stanley said it is lowering its estimates on ADP for fiscal 2007 to $2.22 a share from $2.25 a share. Company has a strategy to accelerate growth. Maintained Overweight rating.