Atheros downgraded at Jefferies: Jefferies said it is downgrading ATHR to Hold from Buy due to concerns for the company's PAS (Personal Access System) business. See increased competition and lower ASPs. Price target lowered to $20 from $30. CompuCredit downgraded at Wachovia: Wachovia said it is downgrading CCRT to Market Perform. Cites sub-prime consumer credit market is weakening heightening risks. Valuation range is $36-$40. Check Point Software downgraded at Deutsche Bank: Deutsche Bank said it is downgrading CHKP to Hold from Buy. Cites weak near-term trends with no catalyst for upside. Lowered target price to $19 from $23. Charter Communications upgraded at Citigroup: CHTR was upgraded from Sell to Buy, Citigroup said. $1.75 price target. Company can grow EBITDA at 9% a year through 2010. Voice and video net adds should lead new growth. Ecolab downgraded at CSFB: CSFB said it is downgrading ECL to Neutral from Outperform based on valuation. Maintained $41 target price. Vaalco downgraded at Jefferies: Jefferies said it is downgrading EGY to Underperform from Hold based on valuation. Shares currently trade at a 153% premium to the value of announced discoveries. Raising price target to $6.00 from $4.50. Eli Lilly upgraded at Goldman: LLY added to Buy list at Goldman due to improving trends for key products including Zyprexa and Cymbalta. Increased 2006 estimates to $3.15 from $3.07. Price target raised to $67 from $59. MasterCard coverage initiated at JP Morgan: JP Morgan initiated coverage on MA with a Neutral rating. This is because of litigation uncertainty offsetting their fundamentals. MasterCard coverage initiated at Prudential: Prudential said it is initiating coverage on MA with an Overweight rating and a $56 target price. Attractive business model is sustainable. Mueller Water rated new Buy at Morgan Stanley: Morgan Stanley said it is initiating coverage on MWA with an Overweight rating and a $21 target price. Pure play on water industry.