Change in Ratings

Archer-Daniels-Midland ( ADM) upgraded at Merrill from Neutral to Buy. $26 price target. Recent 40% correction in commodity prices helps the company's outlook.

eBay ( EBAY) numbers lowered at UBS. 2008 EPS estimates lowered to $1.70 from $1.73. Price target lowered to $17 from $18. Maintains Neutral rating. eBay downgraded at Credit Suisse to Neutral from Overweight.

Ecolab ( ECL) upgraded at Goldman Sachs to Buy from Neutral based on valuation and likely outperformance in recessionary environment. Note strong competitive position, attractive growth platforms and pricing power. Price target at $51.

FPL ( FPL) downgraded at Citigroup from Buy to Hold. Valuation call, based on a $45 price target.

Stock Comments/EPS Changes

Johnson Controls ( JCI) target lowered at Credit Suisse to $29 from $39 based on credit market lock-up and deteriorating economy, which could impact 2009 results. Maintained Outperform rating.

Coca-Cola ( KO) target cut at Credit Suisse to $55 from $57 based on diminishing expectations for 2009. Maintained Neutral rating.

Linear Technology ( LLTC) numbers lowered at UBS. Fiscal 2009 numbers lowered to $1.58 from $1.85. Price target lowered to $26 from $38. Maintains Buy rating.

Novellus Systems ( NVLS) numbers cut at Morgan Stanley. Shares now seen reaching $19 a share. Estimates also cut, based on the company's cautious revenue outlook. Overweight rating.

U.S. Steel ( X) numbers lowered at UBS. 2008 EPS estimates lowered to $18.50 from $20.99. Price target lowered to $60 from $110. Maintains Buy rating.

Strategy Calls/Market Calls

Citigroup changes ratings on three natural gas utilities. MDU ( MDU) was downgraded from Buy to Hold. Estimates also cut because of higher borrowing costs. On the other hand, NiSource ( NI) and Energen ( EGN) were upgraded to Buy, based on valuation.
This article was written by a staff member of TheStreet.com.

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