Arbitron ( ARB) upgraded at Bear: ARB was upgraded from Peer Perform to Outperform at Bear Stearns. Company is making progress in its PPM rollout, which should help drive the stock.

CACI International ( CAI) downgraded at Wachovia: CAI was downgraded to Market Perform at Wachovia. Sudden departure of the CFO increases concern about the company's near-term direction.

Gol Airlines ( GOL) coverage resumed at Morgan Stanley: Morgan Stanley resumes coverage of Gol Airlines with an overweight rating and a $37 price target.

Level 3 ( LVLT) rated new Outperform at Credit Suisse: Credit Suisse is initiating coverage on LVLT with an Outperform rating. Believes company will continue to see strong demand driven by higher data usage. Sets $7.50 target price.

MetLife ( MET) upgraded at UBS: MET upgraded to Buy rating from Neutral at UBS. Price target lifts to $71 from $64. 2007 eps estimates bumps to $5.27 from $5.23.

Tidewater ( TDW) coverage initiated at Goldman Sachs: Goldman is initiating coverage on TDW with a Sell rating. See lower utilization and declining dayrates for company's old fleet. Price target at $43.

United Surgical ( USPI) downgraded at Deutsche: USPI was downgraded from Buy to Hold at Deutsche Bank. $31 price target. Do not expect the company to receive a better takeover offer before next month.


Boeing ( BA) numbers raised at UBS: BA numbers raised at UBS. Price target jumps to $82 from $76. 2007 eps estimates lift to $4.85 from $4.80. Reiterates Reduce rating.

Conoco Phillips ( COP) price target cut at Goldman: Goldman is cutting its target on COP to $76 from $83 after company reported disappointing year-end reserve data. Believe data supports long-term strength in oil prices, and that Conoco fundamentals remain strong. Maintain Buy rating.

Genentech ( DNA) price target raised at Goldman: Goldman is upping its target on DNA to $102 from $95 due to strong sales of Lucentis, Rituxan and Avastin. Company guidance was above both Goldman and consensus estimates. Maintained Buy rating.

Guitar Center ( GTRC) estimates cut at Piper: Piper is cutting its 2007 estimates on GTRC to $2.74 a share due to lower expectations for top-line growth following weak Q4 sales. Maintained Outperform rating.

j2 Global ( JCOM) numbers lowered: JCOM numbers lowered at Jefferies. Price target drops to $27 from $28. 2007 eps estimates lowered to $1.50 from $1.57. Reiterates Hold rating.

Urban Outfitters ( URBN) numbers raised at Piper: Piper is raising its target price on URBN from $17 to $28 to reflect improved earnings outlook. Maintained Market Perform rating.

Waters ( WAT)numbers raised at UBS: WAT numbers raised at UBS. Price target jumps to $57 from $52. 2007 eps estimates lift to $2.60 from $2.54. Reiterates Neutral rating.