Analysts' Actions: A Daily Roundup of Street Research

CHANGE IN RATINGS

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.

IBM estimates cut at UBS: UBS cut its 2006 estimates on IBM to $5.75 from $5.80 and 2007 estimates to $6.20 from $6.25. UBS also lowered its price target to $82 from $90. This is due to lower service bookings and hardware trends. Maintains Neutral rating.

Morgan Stanley recommended at Goldman: Goldman said it is adding MS to its Americas Conviction Buy list. Believes investors are underestimating the earnings power of Morgan Stanley's franchise following years of lackluster financial performance relative to peers.

RF Micro estimates cut at Piper: Piper said it is cutting its 2007 estimates on RFMD by a penny to 442 cents a share to reflect slow Motorola SLVR sell-through. Maintained Outperform rating.

More from Stocks

Danica Patrick's Final Race at 2018 Indianapolis 500: What She Thinks About Cars

Danica Patrick's Final Race at 2018 Indianapolis 500: What She Thinks About Cars

Why The FANG Stocks' Dominance May Not Be So Bad For The Market

Why The FANG Stocks' Dominance May Not Be So Bad For The Market

At End of May, Investors Signalling They May Stay Away

At End of May, Investors Signalling They May Stay Away

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever

Neel Kashkari: The Heart of Our Financial System Is More Radioactive Than Ever