Auxilium Pharma ( AUXL) downgraded at Merrill Lynch to Neutral. Valuation call, as the stock is already pricing in 100% clinical success for Xiaflex. Cardinal Health ( CAH) upgraded at Merrill Lynch from Neutral to Buy. $81 price target. Stock is trading in-line with its growth rate, which places valuation at 5-year lows. Earnings growth should re-accelerate in 2008. Cognos ( COGN) downgraded at Jefferies to Hold rating from Buy. FY 2008 EPS estimates and price target hold at $2.04 and $48. Cognos downgraded at Goldman Sachs to Neutral from Buy based on valuation. See continuing acquisition bids in BI sector on the heels of SAP's bid for BOBJ. Price target moves to $54 from $48 due to higher comps in sector. Cooper Cos. ( COO) downgraded at JP Morgan from Neutral to Underweight. Consensus estimates are likely too high through 2010, as there will likely be a negative mix shift in the contact lens business. Community Health ( CYH) downgraded at Morgan Stanley from overweight to equalweight and drops its $39 price target. DRS ( DRS) technologies initiated at UBS with Buy rating. Price target begins at $66 with FY 2008 EPS estimates set at $3.10. JetBlue ( JBLU) downgraded at Goldman to Neutral from Buy. See limited near-term positives for company, with 2007 earnings estimates decreasing to $0.14 from $0.17 on lower unit growth. Still positive on long-term margin-expansion story. Price target to $10 from $12.