CHANGE IN RATINGS

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.

Qwest downgraded at Goldman: Rating on Q was cut to Sell, Goldman Sachs said. Company has improved its margins and balance sheet, but the stock is already up more than 120% in the past year. $6.50 price target.

Visage Technology coverage initiated at Jefferies: Jefferies said it is initiating coverage on VISG with a Hold rating. See opportunities in the biometrics segment and other positives reflected in share price. Price target of $14.50.

XTO Energy upgraded at Citigroup: XTO was upgraded from Hold to Buy, Citigroup said. $51 price target. Energy prices remain above their historical averages, and the company has an impressive track record of replacing its inventory.

STOCK COMMENTS / EPS CHANGES

American Eagle estimates raised at CSFB: CSFB said it is raising its 2006 EPS estimates on AEOS by 4 cents to $2.14 due to better than expected June results and slightly higher comp expectations. Maintained $32 target price.

Hyperion price target cut at Jefferies: Jefferies said it is lowering its price target on HYSL by $2 to $31 due to intensifying competitive environment in Performance Management applications. Reiterate Hold rating.

J.C. Penney outlook raised at UBS: UBS raised its 2007 estimates on JCP to $4.60 from $4.50 and 2008 estimates to $5.20 from $5.10. Price target raised to $81 from $78 and reiterated Buy rating.

J.C. Penney outlook raised at Morgan Stanley: Morgan Stanley said it is increasing its estimates on JCP for the full year ending Jan. 2007 to $4.49 a share from $4.46 a share. Target raised to $80 from $77. Maintained Overweight rating.

Marathon Oil estimates raised at UBS: UBS raised its 2006 estimates on MRO to $10.50 from $9.96 and 2007 estimates to $9.99 from $9.64. Reiterated Neutral rating and raised price target two dollars to $85.

Principal Financial target boosted at Morgan Stanley: Morgan Stanley said it is increasing its target price on PFG to $55 a share from $53 a share. Maintained Underweight rating.

Pacific Sunwear of California estimates lowered at CSFB: CSFB said it is lowering its 2006 EPS estimates on PSUN by 8 cents to $1.57 due to weaker than expected June sales results. Maintained $19 target price.

Ross Stores estimates reduced at CSFB: CSFB said it is lowering its 2006 EPS estimates on ROST by 4 cents to $1.67 due to more conservative margin assumptions. Maintained $33 target price.

Tibco Software estimates raised at Piper: Piper said it is raising its 2006 estimates on TIBX by 2 cents to 31 cents a share after the company reported solid Q2 results. Maintained Outperform rating.

Tibco Software estimates raised at Jefferies: Jefferies said it is upping its 2006 estimates on TIBX by a penny to $0.29 due to strong license sales. Reiterated Buy rating with price target of $10.

Tibco Software estimates raised at UBS: UBS raised its 2006 estimates on TIBX to $0.23 from $0.19 and 2007 estimates to $0.27 from $0.19. Reiterated Buy rating and $10 price target.