ATI Technologies downgraded at UBS: UBS downgraded ATYT to Neutral from Buy to reflect the company's new stock price after a takeover bid from AMD. Price target lowered to $21.10 from $22. Avaya downgraded at Merrill: AV was downgraded to Neutral, Merrill Lynch said. Company reported a noisy quarter, and revenue and margins are not growing fast enough. New CEO will need several quarters to make a difference. Avaya outlook reduced at UBS: UBS lowered its price target on AV to $12.80 from $14, 2006 estimates to $0.47 from $0.54 and 2007 estimates to $0.63 from $0.71. UBS noted the company's weak margins offset sales upside. Maintained Buy rating. Circuit City upgraded at Goldman: Goldman said it is upgrading CC to Buy from Neutral based on valuation. Lowered target price to $30 from $33. Quest Diagnostics downgraded at Jefferies: Jefferies said it is downgrading DGX to Hold from Buy due to valuation. Company beat Q2 estimates by 7 cents and raised its 2006 guidance to $2.95-$3.05. Price target raised to $65 from $60. Dick's Sporting Goods downgraded at Goldman: Goldman said it is downgrading DKS to Neutral from Buy based on valuation. Believes stock offers less upside potential than peers. Lowered target price to $41 from $42. eBay upgraded at Bear Stearns: Bear Stearns upgraded EBAY to Outperform from Peer Perform. Bear noted that the 47% decline from its highs due to risks has been priced into the stock. Price target raised to $33 foreseeing long term growth of 21%. HCA downgraded at Jefferies: HCA downgraded to Hold from Buy, Jefferies said. Company announced pending LBO at $51 per share yesterday. Expect deal to be consummated in Q4. See increased bad debt and weak volumes persisting for overall industry. Target lowered to $51 from $53. Illinois Tool Works upgraded at Goldman: Goldman said it is upgrading ITW to Buy from Neutral based on valuation. Reduced target price to $51 from $52.