Acme Packet ( APKT) upgraded at Piper Jaffray to Outperform from Market Perform. Company reported a great second quarter beating analysts estimates in revenues and gross and operating margins. Customer concentration is improving. $15 price target.

Acme Packet upgraded at Deutsche Bank to Buy from Hold. Signs of increasing customer adoption mark a potential inflection point. Current valuation marks a favorable risk/reward. Price target raised to $15 from $13.

Bare Escentuals ( BARE) downgraded at CIBC from Outperform to Sector Perform. $48 price target. Company's infomercial business continues to deteriorate.

Broadcom ( BRCM) upgraded at CIBC from Sector Perform to Outperform. DTV, bluetooth headset 802.11n and gaming opportunities all appear poised to ramp. $40 price target.

Corinthian Colleges ( COCO) upgraded at Piper Jaffray to outperform and raises price target from $12 to $17.

Cubic ( CUB) upgraded at FBR to Market Perform rating from Under Perform. Price target upped to $28 from $24 and FY 2008 eps estimates jump to $1.59 from $1.35.

Electronic Data Systems ( EDS) downgraded at Jefferies to Hold rating from Buy. Price target lowered to $27 from $34, and FY 2008 eps estimates drop to $1.78 from $1.84.

Electronic Data Systems downgraded at Merrill to Neutral. Company cut free cash flow guidance.

Endo Pharma ( ENDP) downgraded at UBS to Neutral rating from Buy. Price target lowered to $38 from $40, and FY 2008 eps estimates drift down to $2.12 from $2.13.

General Maritime ( GMR) upgraded at Bear Stearns to Outperform from Peer Perform. Several positive catalysts: compelling valuation, potential recovery in the tanker day rates in fourth quarter, and a solid dividend yield. $31 price target.

Getty Images ( GYI) downgraded at Deutsche Bank to Sell from Hold. In second quarter the company saw a year-over-year decline in core business and organic revenue. Creative images continue to see weakness from mix and demand issues. Price target lowered to $35.

Harleysville Group ( HGIC) upgraded at Keybanc from Hold to Buy. $33 price target. Company posted solid second quarter results and deserves to trade at a premium valuation.

Jones Apparel Group ( JNY) upgraded at Morgan Stanley from underweight to equalweight with a $25 price target.

Jackson Hewitt ( JTX) downgraded at Goldman Sachs to Sell from Neutral based on higher near-term risks, including renegotiation of HSBC RAL agreement, outcome of DoJ/IRS investigation, and decreasing performance expectations for upcoming tax season. Target price at $25.

Littlefuse ( LFUS) upgraded at Robert Baird from Neutral to Outperform. $42 price target. Company's strong position in the circuit protection business, cost-cutting opportunities and solid balance sheet will help offset the weak second quarter results.

Laboratory Corp of America ( LH) upgraded at Jefferies to Buy rating from Hold. Price target and FY 2008 eps estimates hold at $86 and $4.94, respectively.

Marshall & Ilsley ( MI) upgraded at Deutsche Bank from Hold to Buy. $50 price target. Investors are essentially receiving the Metavante business for free at current levels.

Middleby ( MIDD) upgraded from Neutral to Outperform at Robert Baird. $73 price target. Work stoppage has been settled, and the market focus will likely shift back toward the company's organic growth prospects.

Marvell ( MRVL) downgraded at CIBC to Sector Performer from Sector Outperformer. Though company has passed the bottom, it may be difficult to live up to renewed bullish expectations for growth. $23 price target was pulled.

Nelnet ( NNI) upgraded at Goldman Sachs to Neutral from Sell. Recent sharp correction has brought shares to a level where risks are fully priced in, specifically Senator Kennedy's legislative initiatives targeting student lenders. Price target at $20.

OfficeMax ( OMX) upgraded at JP Morgan from Neutral to Overweight. Valuation call, as the company is trading at just 12 times expected 2008 earnings.

Photronics ( PLAB) downgraded to Neutral at Merrill Lynch. Company cut guidance, based on lower flat-panel display and chip photomask demand. Downside limited by the fact the stock trades at 1.5 times tangible book value.

Qwest ( Q) upgraded at CIBC from Sector Perform to Outperform. $11 price target. Company has positive leverage to the enterprise business, and should soon have a new CEO.

Qwest added to Focus List at JP Morgan. Company reported a poor quarter, but the stock looks oversold after a 25% sell-off. $10.50 price target.

Senior Housing ( SNH) upgraded at UBS to Buy rating from Neutral. Price target holds at $24, while FY 2008 eps estimates drift down to $1.70 from $1.75.

Symantec ( SYMC) upgraded at Friedman Billings Ramsey to Outperform from Market Perform based on expected strength in government vertical. Also see potential upside from enterprise product cycle. Price target raised to $24 from $20.

Triumph Group ( TGI) upgraded from Neutral to Buy at Merrill Lynch. $95 price target. Estimates also raised, as the company's margins should rise as management executes on its turnaround strategy.

Wisconsin Energy ( WEC) upgraded to Buy at Merrill Lynch. Stock is down 8% on the year, but should grow earnings 11% annually through 2011. $49 price target.


Amgen ( AMGN) price target lowered at Goldman to $64 from $67 based on lower expectations for positive changes to the National Coverage Decision for erythropoiesis agents. Do not expect cumbersome policies on dose titration to change in the near-term. Reiterated buy rating.

Cognizant ( CTSH) 2007 estimates raised at Piper by 4 cents to $2.24 a share following Q2 upside and guidance. Maintained Market Perform rating.

Disney ( DIS) 2007 estimates raised at Goldman to $1.91 from $1.87 after company delivered strong Q3 results. Maintained Buy rating and $45 target.

Getty Images ( GYI) target cut at Piper to $44 from $50 due to weak second-half outlook following in-line quarter. Maintained Market Perform rating. ( SOHU) 2007 estimates raised at Piper by 12 cents to 76 cents a share following branded revenue upside surprise in Q2. Maintained Outperform rating.

Tekelec ( TKLC) 2008 estimates cut at Piper by 2 cents to 60 cents a share to reflect declining order growth. Maintained Market Perform rating.