Paccar ( PCAR) downgraded at Wachovia from Market Perform to Underperform. Consensus estimate likely too optimistic, because of lower North American truck demand. Robbins & Myers ( RBN) downgraded at FBR to a Market Perform rating as stock is trading at premium to peer group following Q4 results. Sonic ( SONC) downgraded at Merrill to Neutral. Stock has reached $26 price target, and negative traffic trends could weigh on near-term restaurant margins. Tibco Software ( TIBX) downgraded at Bear Stearns from Peer Perform to Underperform. Valuation call. Also concerned about core sales, following IBM's software guidance last night. Teekay Shipping ( TK) initiated at Morgan Stanley with an equalweight rating. UST ( UST) upgraded at Goldman Sachs to Buy from Neutral based on better earnings expectations and valuation. Believe market is mispricing shares due to overly severe concern over increased competition. See company increasing return to shareholders with another dividend increase and step-up in the share buyback program. Maintained Buy rating. ValueClick ( VCLK) downgraded at Oppenheimer to Neutral. $27 price target. Company cut guidance, and it's too early to become confident about the lead generation business. ValueClick 2007 estimates cut at Credit Suisse to 72 cents from 75 cents after company lowered its full-year outlook. Believes buyback and strong cash position should limit near-term downside. Maintained Outperform rating.
US Steel ( X) upgraded at Deutsche to Buy. 2008 estimate boosted to $13 a share, to reflect rising steel prices. New $130 price target.