Burlington Northern Santa Fe ( BNI) upgraded at Goldman to its Conviction Buy List based on valuation. Also cites best in class intermodal franchise and company is taking share from Union Pacific. Raised target price to $72 from $66. CBS ( CBS) downgraded at UBS from Neutral to Sell. $3.80 price target. Expect lower advertising estimates through 2010. Credit rating could also be cut. Church & Dwight ( CHD) upgraded at Oppenheimer to Outperform, Oppenheimer said. $62 price target. Company should benefit as consumers trade down toward its value-oriented portfolio. FreeSeas ( FREE) downgraded at Credit Suisse to Neutral from Outperform based on weak freight outlook in 2009 and expectations for lower utilization for two older vessels. Lowered target price to $2 from $5. Gap ( GPS) added to Goldman Conviction Buy List based on improving sales trends in coming months and valuation. Raised target price to $15 from $14. Lincoln National ( LNC) downgraded at Credit Suisse to Neutral from Outperform. Cites liquidity tensions over next few months and further pressure on subsidiary capital levels. Lowered target price to $14 from $23. Nalco Holding ( NLC) upgraded at Goldman to Buy based on better refinancing outlook and valuation -- since company trades at a 25% discount to peers. Sets 6-month target price at $16. Potash ( POT) downgraded at Soleil to Hold from Buy based on short-term fertilizer demand destruction and longer-term lower potash prices. Lowered target price to $100. Quality Systems ( QSII) downgraded at UBS from Neutral to Sell. $44 price target. Valuation call, as the company is likely facing a volatile year. Insider selling has also remained steady.
STOCK COMMENTS / EPS CHANGES
Allergan ( AGN) target raised at UBS to $54. Stock has moved higher on GSK takeover rumors. Maintain Buy rating, as earnings look too conservative. The pipeline also has good potential.