CHANGE IN RATINGS

Adobe Systems ( ADBE) upgraded at Jefferies from Hold to Buy. $21 price target. Costs are coming down along with demand, which should help stabilize earnings.

Adobe Systems ( ADBE) upgraded at UBS from Neutral to Buy. $21 price target. Company warned of lower sales, but margins and earnings came in ahead of expectations. Management is cutting costs, while demand remains uncertain.

Baidu.com ( BIDU) upgraded at Citigroup from Sell to Buy. $181 price target. Business is tracking ahead of expectations, though long-term concerns remain.

Gymboree ( GYMB) downgraded at J.P. Morgan to Neutral from Overweight. New product safety regulation caused comps to decline 20% and earnings guidance down 70%. See too much uncertainty in sales and inventory levels. Price target cut to $15 from $31.

Lincoln Electric ( LECO) upgraded at Keybanc from Underweight to Hold. Estimates have come down in recent months, and the stock is down 38% since December.

Pfizer ( PFE) coverage reinstated at Goldman Sachs with a Buy rating, based on dividend and free cash flow yield. Shares have been punished following Wyeth deal announcement, mainly due to dividend cut. Note that patent hole is filled and future earnings appear stable. Price target at $17.

Robert Half ( RHI) upgraded at Deutsche from Sell to Hold. $14 price target. Valuation call, as the stock has materially underperformed MAN of late.

AT&T ( T) upgraded at UBS from Neutral to Buy. $31 price target. Company could beat estimates, with labor costs coming down. 7.1% dividend yield also appears secure.

Verizon ( VZ) upgraded at UBS from Neutral to Buy. Wireless growth should drive earnings in 2009. 6.6% dividend yield also looks safe. $34 price target.

STOCK COMMENTS / EPS CHANGES

Costco ( COST) estimates reduced through 2010 at UBS. Company is seeing lower membership fees and interest income. Buy rating and new $47 price target.

General Electric ( GE) numbers cut at Barclays to $10. Estimates also lowered, as orders are likely down across the board. Overweight rating.

Honeywell ( HON) estimates cut through 2010, target lowered at Barclays Capital. Overweight rating and new $30 price target.

Ingersoll-Rand ( IR) estimates lowered at Barclays through 2010. Company being hurt by the macro environment. Equal-weight rating and $14 price target.

Joy Global ( JOYG) estimates cut through 2010 at Barclays. Company is seeing lower end-market demand. Overweight rating and new $26 price target.

Lubrizol ( LZ) added to Top Picks Live list at Citigroup. Stock is down 52% since September, and is already pricing in lower earnings. Buy rating and $32 price target.

3M ( MMM) estimates, target cut at Barclays. Shares now seen reaching $41. Estimates also reduced, because of the macro environment. Underweight rating.

Oracle ( ORCL) estimates, target lowered at UBS. Shares now seen reaching $19. Estimates also cut, to reflect the stronger dollar and lower license revenue growth. Buy rating.

Tyco ( TYC) numbers reduced at Barclays through 2010. Overweight rating and new $24 price target.
This article was written by a staff member of TheStreet.com.