CHANGE IN RATINGS

BHP Billiton ( BHP) downgraded to Neutral at Merrill Lynch/Bank of America. Valuation call, as the stock is up 45% in March.

Google ( GOOG) upgraded at Canaccord to Buy from Hold. Believes estimates for weaker search and CPC growth trends are largely priced-in. Raised target price to $400 from $300.

Janus Capital ( JNS) downgraded at J.P. Morgan to Neutral from Overweight based on valuation following recent rally. Note positive fund performance, but shares no longer offer the same downside protection based on asset values. Price target raised to $8 from $7.

KBR ( KBR) rated new Hold at Jefferies. $16 price target. Company is continuing to transition away from its military roots.

Nokia ( NOK) upgraded at UBS from Neutral to Buy. $14.80 price target. Improving leading indicators, new product launches and a weaker Yen should help the company.

STOCK COMMENTS / EPS CHANGES

American Electric Power ( AEP) target cut at Credit Suisse to $34 from $40 to put more of a discount valuation on its Off-System Sales component. Maintained Outperform rating.

Blackrock ( BLK) estimates lowered through 2010, target cut at Credit Suisse. Company seeing lower asset inflows and has new accounting rules. Neutral rating and new $104 price target.

Celanese ( CE) added to Top Picks Live list at Citigroup. Company is likely to benefit from Chinese stimulus. Buy rating.

Emerson Electric ( EMR) numbers reduced at UBS through 2010. Orders remain weak, ahead of the April 7 investor meeting. Neutral rating and new $30 price target.

Goldcorp ( GG) target raised at Credit Suisse to $38 from $31 based on higher gold reserves and prices. Maintained Outperform rating.

Juniper Networks ( JNPR) estimates reduced at UBS through 2010. Checks show that Enterprise segment is weak in Europe. Buy rating and $21 price target.

Paychex ( PAYX) estimates lowered at Barclays through 2010. Company can't cut costs fast enough to offset weak revenue. Equal-weight rating and $25 price target.

Red Hat ( RHT) estimates, target increased at UBS to $16. Estimates also boosted, because of strong billings and tight expense controls. Neutral rating.

Constellation Brands ( STZ) numbers cut at UBS through 2010. Company seeing lower results from the international business. Debt paydown remains a top issue. Buy rating and new $16 price target.

Tyco Electronics ( TEL) estimates, target cut at UBS. Shares now seen reaching $11.50. Estimates also lowered, based on poor end-market demand. Neutral rating.

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

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