CHANGE IN RATINGS

Adobe Systems ( ADBE) upgraded at UBS from Sell to Neutral. $18 price target. Valuation call, even as estimates were also cut, based on channel checks.

Aeropostale ( ARO) upgraded at Goldman Sachs to Buy from Neutral based on valuation and stabilization in mall traffic trends. Believe company's reputation for value, which is a major plus with budget-focused shoppers. Price target raised to $25 from $22.

Action Alerts PLUS

Becton Dickinson ( BDX) upgraded at Credit Suisse from Neutral to Outperform. $78 price target. Company has global and product diversification. Input costs are low and management is presiding over a strong balance sheet.

Blackstone ( BX) upgraded to Outperform at Keefe, Bruyette & Woods. $6 price target. Priority distribution should remain at $1.20 a share.

Cisco Systems ( CSCO) upgraded at Argus from Hold to Buy. $24 price target. Valuation call, as business appears to be bottoming.

Dell ( DELL) upgraded at Argus to Buy. $12.50 price target. Release of Windows 2007 should help stimulate PC demand later this year. Company also has a strong cash position.

Helmerich & Payne ( HP) downgraded at J.P. Morgan to Neutral from Overweight. Company announced that it had 23 additional contracts cancelled and expects to have at least 50 idle FlexRigs soon. Believe recent strong performance in stock (up 4% in 2009) will reverse. Price target cut to $23 from $29.

HealthSpring ( HS) downgraded at Goldman Sachs to Neutral from Buy. Expect limited upside in near-term due to negative sentiment toward Medicare Advantage program. Price target cut to $10 from $18.

J.P. Morgan ( JPM) upgraded to Outperform at Keefe, Bruyette & Woods. $30 price target. Valuation call, as earnings could outperform its peers in the coming quarters.

Kohl's ( KSS) upgraded at Goldman Sachs to Neutral from Sell sue to passing of negative catalysts. Consensus estimates for 2009 have declined significantly, and valuation appears less stretched. Price target unchanged at $32.

Steel Dynamics ( STLD) upgraded at Morgan Stanley to Overweight. $15 price target. Company is a low-cost producer, and trades at a 40% discount to NUE.

State Street ( STT) downgraded at Goldman Sachs to Neutral from Buy based on further potential for securities write-downs. Note that company has not been aggressive in recognizing securities losses. Expect earnings to suffer by about $1 per year in both 2009 and 2010. Price target at $25.

Tyco ( TYC) upgraded at Citigroup from Hold to Buy. $25 price target. Valuation call, as organic growth remains resilient.

STOCK COMMENTS / EPS CHANGES

Citigroup ( C) estimates, target cut at Barclays to reach $3. Estimates also reduced, because of share dilution. Overweight rating.

Calpine ( CPN) 2009 estimate cut because of the weak economy and tight credit markets, at Barclays Capital. Equal-weight rating and new $4 price target.

CSX ( CSX) estimates, targets cut at UBS through 2010. Company hurting from the weak economy, and the current quarter should be the worst. Buy rating and new $46 price target.

Eaton ( ETN) estimates, target cut at Jefferies. Shares of ETN now seen reaching $32. Estimates also reduced, following the company's somber analyst meeting. Hold rating.

Interpublic ( IPG) estimates upped at UBS through 2010. Company has turned business around, despite macro trends. Management looking to cut costs in the new year. Neutral rating and $4.25 price target.

Mirant ( MIR) estimates, target reduced at Barclays to $14. Estimates also cut, to reflect weak commodity prices. Equal-weight rating.

SBA Communications ( SBAC) numbers raised at RBC Capital. Shares now seen reaching $25. Estimates also increased, to reflect more site acquisitions and higher leasing activity. Outperform rating.

Southwestern Energy ( SWN) 2009 numbers upped at Barclays because of lower costs. Overweight rating and new $42 price target.

Wellpoint ( WLP) estimates raised at UBS through 2010. Company held an upbeat investor day, and is cutting costs to meet it earnings guidance. Buy rating and $53 price target.

Weight Watchers ( WTW) numbers lowered at UBS to $19. Estimates also cut, to reflect weaker consumer spending and currency headwinds. Neutral rating.

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

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