PharmaNet Development ( PDGI) downgraded at Jefferies to Hold rating from Buy. Price target dips to $37 from $39 while FY 2008 EPS estimates upped to $1.71 from $1.51. Western Refining ( WNR) upgraded at UBS to Neutral rating from Sell. Price target and FY 2008 EPS estimates hold at $42 and $2.96, respectively. Washington Post ( WPO) upgraded at Deutsche from Hold to Buy. $910 price target. Company has 80% of its EBITDA leveraged to counter-cyclical businesses. Valuation looks attractive, based on growth prospects.
Ingersoll-Rand ( IR) target upped at Morgan Stanley. IR now seen reaching $61 a share. Company is gaining market share, and the new business mix is driving earnings growth. Equal-weight rating. ITT ( ITT) target boosted at Morgan Stanley to $68 a share. Company recently posted another strong quarter, and margins should continue to expand. Equal-weight rating. Joy Global ( JOYG) numbers raised at UBS. Price target jumps to $67 from $55 and FY 2008 EPS estimates lift to $3.15 from $3.05. Reiterates Buy rating. Lab Corp. ( LH) target reduced at Credit Suisse to $84 from $89 after Q3 results and guidance fell short of estimates. Believes sell-off is overdone. Maintained Outperform rating. Monsanto ( MON) target increased at Morgan Stanley to $121 a share. Stock looks undervalued on the sum of the company's assets. Monsanto can sustain 20% annual earnings growth. Overweight rating. Tesoro ( TSO) numbers raised at UBS. Price target jumps to $66.50 from $54 while FY 2008 EPS estimates hold at $5.20. Reiterates Buy rating.