Aetna ( AET) downgraded at Goldman Sachs: Goldman is downgrading AET to Neutral from Buy based on valuation. See thesis for valuation recovery nearing completion following 31% gain since July 28. Price target cut to $45 from $47. Abercrombie & Fitch ( ANF) upgraded at Merrill Lynch: ANF upgraded to Buy rating at Merrill Lynch. Price target set at $90 with 2007 EPS estimates at $4.60 and 2008 estimates at $5.35. Bank of New York ( BK) downgraded at Piper: BK was downgraded from Outperform to Market Perform at Piper Jaffray. $40 price target. MEL deal should pay off in the long term, but the stock's valuation has already caught up to its peers. Dell ( DELL) downgraded at JP Morgan: JP Morgan downgrades Dell to underweight and lowers EPS estimates for 2007, as it believes investors will now begin to shift their attention to what looks to be a different 2007. EOG Resources ( EOG) upgraded at CSFB: EOG was upgraded from Underperform to Neutral at Credit Suisse. Stock has dropped 16% since November, and natural gas prices should stabilize in the near term. Flextronics ( FLEX) rated new Buy at UBS: FLEX was initiated at UBS with Buy rating. Price target set at $14.50 with EPS estimates for 2007 at $0.75 and 2008 estimates at $0.95. Ingersoll Rand ( IR) upgraded to Buy from Neutral: IR upgraded to Buy from Neutral at UBS. Price target jumps to $46 from $42. Introduces 2008 EPS estimates of $4.00.