Adtran downgraded at Weisel: ADTN was downgraded from Outperform to Peer Perform, Thomas Weisel said. Company seeing lower growth at its HDSL/T1 segment, which accounts for 40% of revenue. Estimates also cut, as second half guidance appears optimistic. Advance America downgraded at Morgan Stanley: Morgan Stanley said it is lowering its rating on AEA to Equalweight from Overweight. Valuation cited as the main driver of the rating change. Target is $17 a share. Cameron International upgraded at Morgan Stanley: Morgan Stanley said it is increasing its rating on CAM to Overweight from Equalweight. The target price is raised to $75 a share from $66 a share. Huntsman upgraded at BB&T: HUN was upgraded from Underperform to Hold, BB&T Capital said. Estimates continue to fall, because of lower polyeurethane profits. That said, stock has dropped far more than DOW and LYO. InterDigital Communications downgraded at Piper: Piper said it is downgrading IDCC to an Underperform rating based on valuation. Long-term potential remains intact. Qwest upgraded at Raymond James: Rating on Q was raised from Underperform to Market Perform, Raymond James said. Industry trends are beginning to improve, and the company is finally moving toward taking some shareholder-friendly actions. Sybase upgraded at Jefferies: Jefferies said it is upgrading SY to Buy from Hold due to valuation and possible upside to 2006 results. Increased price target to $25 from $23. Tesoro downgraded at Deutsche: TSO was downgraded from Hold to Sell, Deutsche Bank said. Valuation call, as the stock should trade back down toward $65 price target.
STOCK COMMENTS / EPS CHANGES
Air Products estimates lowered at Jefferies: Jefferies said it is lowering its 2007 estimates on APD by 5 cents to $3.90 due to more cautious stance on operating momentum. Reiterated Buy rating and price target of $77. Google estimates raised at Piper: Piper said it is raising its 2006 estimates on GOOG by 33 cents to $8.00 due to higher Q2 forecast based on strong search volumes and expectations of market share gains in the quarter. Maintained Outperform rating.