Change in Ratings

Arthur J. Gallagher ( AJG - Get Report) downgraded at Merrill from buy to neutral. Estimates also cut, following the company's recent earnings shortfall.

Continental Resources ( CLR - Get Report) downgraded at JPMorgan from outperform to neutral. Continental's stock price reflects performance beyond reasonable expectations, and commodity prices higher than the market is willing to credit others.

China Sunergy ( CSUN) upgraded at Jefferies to hold rating from buy. Price target jumps to $12 from $6 and 2008 EPS estimates upped to 30 cents from 1 cent.

Humana ( HUM - Get Report) added to Conviction Buy List at Goldman. See better near-term upside at HUM based on Medicare Advantage. Price target raised to $58 from $54.

Intuit ( INTU - Get Report) downgraded at Citigroup from buy to hold. The tax season is now over, and Intuit tends to languish in the months of June through August.

Medtronic ( MDT - Get Report) upgraded at Goldman Sachs to buy from neutral based on potential earnings upside driven by strong market share and broad distribution. Note attractive valuation, improving R&D productivity and opportunities to leverage income statement. Price target raised to $57 from $52.

Micron ( MU - Get Report) upgraded at Deutsche from hold to buy. Improving industry pricing and cost reductions should lead to a strong margin recovery.

National Fuel Gas ( NFG - Get Report) upgraded at UBS to buy rating from neutral. Price target jumps to $69 from $63 and 2008 EPS estimates hold at $3.21.

Nucor ( NUE) downgraded at UBS to neutral rating from buy. However, price target lifts to $85 from $80 and 2008 EPS estimates hold at $6.30.

Pride International downgraded at Wachovia from market perform to underperform. Pride will most likely underperform the mean return of covered offshore drillers in either direction, and could depreciate even if the universe trades up.

Stock Comments/EPS Changes

Analog Devices ( ADI) numbers raised at Morgan Stanley. Shares of ADI now seen reaching $34. Estimates also raised, as the company is seeing higher sales at its communications and industrial businesses. Equal-weight rating.

This article was written by a staff member of Ratings.