Change in Ratings

American Capital ( ACAS) downgraded at UBS to sell rating from neutral. Price target cut to $28 from $34 and fiscal year 2008 EPS estimates lowered to $3.26 from $3.37.

Caci International ( CAI) upgraded to buy from hold at Jefferies. Price target upped to $65 from $47 and fiscal year 2008 EPS estimates jump to 46 cents from 31 cents.

Mack-Cali ( CLI) downgraded at UBS to sell rating from neutral and price target cut to $36 from $38.

Comerica ( CMA) upgraded at Deutsche Bank to buy from hold. Price target raised to $52 from $36. 2008 EPS estimates lowered to $2.70 from $3.05.

Diebold ( DBD) upgraded at KeyBanc to buy rating from hold. Price target holds at $47 while fiscal year 2008 EPS estimates increased to $2.13 from $1.85.

Ingersoll-Rand ( IR) downgraded at Morgan Stanley to underweight from equal-weight. 2008 EPS estimates raised to $2.93 from $2.88. Price target removed.

Microsoft ( MSFT) coverage reinstated at Goldman with a buy rating. View company as a defensive investment in current environment, with decision to walk away from Yahoo! ( YHOO) deal showing management's price discipline. See gaming results and Windows Server 2008 driving top-line growth in next few quarters. Price target at $38.

UST ( UST) upgraded at Deutsche Bank to buy from hold based on valuation following recent selloff. See shares undervalued relative to improved profit growth and competitive position. Although consumer weakness remains a risk, see continued steady cash flow and 2% growth in smokeless volume. Target at $58.

Yahoo! coverage reinstated at Goldman Sachs with a neutral rating, following its rejection of the Microsoft's $33/share bid. Note that company reported slightly better than forecast first-quarter earnings since Microsoft's bid became a major focus. Price target at $26.

Stock Comments/EPS Changes

Cisco ( CSCO) target price higher at Credit Suisse to $30 from $27 based on 18 times multiple to 2009 estimates. See CSCO among best relative tech stocks based on limited downside risk and significant upside potential based on widespread convergence onto IP infrastructure. Maintained outperform rating.

Chevron ( CVX) price target raised at Credit Suisse to $100 from $98 based on higher WTI Crude Oil price estimate. Each $10 change adds approximately 30 cents per share in quarterly earnings. Maintained neutral rating.

This article was written by a staff member of TheStreet.com Ratings.

More from Stocks

Get a Juicy 8%+ Dividend Yield With Solid Income Streams All in One Stock

Get a Juicy 8%+ Dividend Yield With Solid Income Streams All in One Stock

U.S.-Chinese Trade War Could Mash Up Apple

U.S.-Chinese Trade War Could Mash Up Apple

How to Overcome the Fear of Trading Super-Momentum Stocks

How to Overcome the Fear of Trading Super-Momentum Stocks

Tesla's People Problem and the Inscrutable Musk: 2 Things That Make You Go Hmmm

Tesla's People Problem and the Inscrutable Musk: 2 Things That Make You Go Hmmm

Dow Hits Another Closing High to End Record Setting Week

Dow Hits Another Closing High to End Record Setting Week