Change in Ratings

Check Point ( CHKP) was downgraded from Market Perform to Underperform, Friedman Billings Ramsey said. Current quarter should be strong, but the stock is up more than 40% over the past six months. $19 price target.

Celera ( CRA) was upgraded from Market Perform to Outperform, Piper Jaffray said. $16 price target. ABT alliance will ultimately pay off, and the current 2007 consensus estimates appear beatable.

Morgan Stanley upgrades Enbridge Energy Partners ( EEP) to equalweight from underweight.

Fortune Brands ( FO) was downgraded from Overweight to Neutral, JP Morgan said. Stock is up 20% since the end of June, though there's downside risk to the company's near-term earnings.

Goldman said it is resuming coverage on International Paper ( IP) with a Neutral rating. Company recently completed restructuring and divestitures and has specific plans for proceeds. See limted upside for shares, with investor focus on margin improvement plan. Price target at $34.

Level 3 ( LVLT) initiated at UBS with Neutral rating. Price target set at $7.00. Forecasts FY07 EPS loss of ($0.72).

Lubrizol ( LZ) was downgraded to Neutral, JP Morgan said. Valuation call, as the stock has dramatically outperformed its peers over the past two years. Maintaining estimates.

3M ( MMM) coverage reinstated with a Neutral rating, Goldman said. Company completed sale of Specialty Pharma group. 2007 estimates reduced by $0.15 to $4.90, to account for divestiture. Price target at $86.

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