Business Objects downgraded at JP Morgan: BOBJ was downgraded from Overweight to Neutral, JP Morgan said. Stock also removed from the focus list. $23 price target. Estimates cut, following the third big miss in the middle of a major product cycle. Business Objects estimates cut at Piper: Piper said it is cutting its 2006 estimates by 13 cents to $1.45 a share after the company preannounced weak Q2 results. Maintained Market Perform rating. Dollar General upgraded at Raymond James: DG was upgraded from Market Perform to Outperform, Citigroup said. $17 price target. Initial feedback is that new merchandising has been successful. Company also facing easy comparisons in the coming months. Digitas upgraded at Bear: DTAS was upgraded from Peer Perform to Outperform, Bear Stearns said. Stock is down 12% over the past week and off 31% from its highs. In talking with several ad executives however, there is no risk of the company losing any major client business. General Motors upgraded to Hold at Deutsche Bank: Deutsche Bank upgraded GM to Hold from Sell and raised its price target to $28 from $20. This is due to their belief that a partnership with Renault and Nissan may have strategic implications. Lowe's downgraded at AG Edwards: AG Edwards said it is downgrading LOW to Hold due to further deceleration in industry sales. Slowing housing activity creating potential weakness in same-store sales and EPS trends. 3M upgraded at JP Morgan: JP Morgan said it is upgrading MMM to Overweight from Neutral. Cites favorable risk/reward at current levels. Openwave downgraded at Weisel: OPWV was downgraded to Peer Perform, Thomas Weisel said. Company cut guidance, and checks suggest the company's international assets may be structurally flawed. Openwave target slashed at Jefferies: Jefferies cut its price target on OPWV to $10 from $25 after disappointing Q4 results and lowered company guidance. Reiterated buy rating.