Akamai ( AKAM) downgraded at Citigroup from Buy to Hold. Valuation call, based on a $22 price target, as the stock is up 43% year-to-date.

Big Lots ( BIG) rated new Overweight at Barclays Capital. $28 price target. Near-term sales could decline, but the company is working on further lowering its cost structure.

Disney ( DIS) downgraded at JPMorgan to Neutral from Overweight. Price target lowered to $21 from $23. 2009 EPS estimates lowered to $1.68 from $1.77.

Dollar Tree ( DLTR) downgraded at UBS from Buy to Neutral. $45 price target. Valuation call, as the stock is up 31% from the February lows.

Dollar Tree ( DLTR) downgraded at Barclays to equal weight from overweight and price target maintained at $46. While steadily improving efficiency is allowing profits to grow even faster than sales, Barclays believes market expectations are very high.

Dr. Pepper Snapple ( DPS) rated new Overweight at Barclays. $25 price target. Higher soda sales are driving growth.

First Horizon National ( FHN) downgraded at Citigroup from Buy to Hold. Valuation call, based on a $12 price target. Company remains well-capitalized, relative to its peers.

FMC Technologies ( FTI) upgraded at Jefferies to Buy from Hold and price target increased to $45 from $27 based on the strong multi-year outlook for subsea activity, expectations for solid order flow in 2010 and valuation. $45 price target based on 19x 2009 EPS and 9-10x 2009 EBITDA, a premium to peers which is supported by history. Risks include execution of backlog, rising labor costs, macro economic/worldwide slowdown in GDP that impacts oil demand, and a potential drop in commodity prices which could curtail deepwater drilling and subsea development.

IntercontinentalExchange ( ICE) upgraded at Goldman Sachs to Buy from Neutral based on stable earnings trends and potential benefits from regulatory changes. Believe additional OTC clearing opportunities, cap and trade-related developments and price increases in commodities could generate additional catalysts. Note stable pricing trends, especially relative to recent pressures in equities. Price target raised to $90 from $60.

Illinois Tool Works ( ITW) downgraded at Goldman Sachs to Neutral from Buy based on valuation, slower growth and potential dividend risk. See potential for below-trend growth coming out of recession due to structural changes in housing and consumer markets. Price target cut to $26 from $36.

Jack in the Box ( JACK) coverage initiated at Goldman Sachs with a Neutral rating based on valuation and competition. Note that same store sales growth will be difficult due to lack of value positioning and regional exposure, although it could benefit from falling commodity costs. Expect just 1%-2% in unit growth and note that financial position is adequate but not compelling. Price target at $25.

Carmax ( KMX) downgraded at Wachovia to Underperform. Stock is already pricing in good news, and more negative potential catalysts lie down the road.

Monsanto ( MON) numbers cut at Morgan Stanley to $115. Estimates also lowered through 2010. Overweight rating.

Monsanto ( MON) downgraded at JPMorgan. Rating lowered to Neutral from Overweight. Price target reduced to $82 from $100. 2009 EPS estimates lowered to $4.80 from $5.00.

Navistar International ( NAV) downgraded at Goldman Sachs to Neutral from Buy due to likely defense contract loss. Company's protest on MRAP All-Terrain Vehicle competition suggests it will probably lose the $3 billion contract. Note attractive early-cycle exposure to U.S. truck market, but expect uncertainty in defense business to remain an overhang on the stock. Price target cut to $26 from $38.

Panera Bread ( PNRA) coverage initiated at Goldman Sachs with a Neutral rating. Company is in transitional growth stage marked by declining revenue growth but improving margins. See continued risk created by heavy reliance on product mix benefits to drive sale store sales results. Price target at $60.

Research in Motion ( RIMM) upgraded at Deutsche Bank from Sell to Hold. $56 price target. Sales momentum has been strong and margins stabilized during the quarter.

Research in Motion ( RIMM) upgraded at Credit Suisse from Underperform to Neutral. $61 price target. Estimates also raised to reflect the company's new guidance and market share gains.

Research in Motion ( RIMM) numbers increased at Barclays through 2010. Company guided to higher margins and channel inventory remains low. Overweight rating.

Schnitzer Steel ( SCHN) downgraded at UBS from Neutral to Sell. Stock is up 56% since mid-March. Estimates also cut, as scrap prices will likely fall through April/May.

Whole Foods Market ( WFMI) downgraded at Jefferies from Buy to Hold. $18 price target. Comp sales remain negative, and the company may struggle to lower its lease expenses.


Autodesk ( ADSK) estimates, target raised at Barclays to $23. Estimates also increased, to reflect stabilizing sales and aggressive cost-cutting. Overweight rating.

Campbell Soup ( CPB) numbers cut at UBS to $29. Estimates also cut, based on lower volume sales. Neutral rating.

Micron ( MU) 2009 estimates cut to a wider loss at UBS. Pricing is improving, but interest expenses are rising. Buy rating and $5 price target.

Nvidia ( NVDA) numbers upped at Barclays to $11 a share. Estimates also increased, following recent inventory channel checks. Equal-weight rating.

Union Pacific ( UNP) numbers reduced at Morgan Stanley to $58. Estimates also lowered through 2011, though the company remains an industry leader. Overweight rating. Ratings, recently cited for Best Stock Selection from October 2007 through February 2009 , is an independent research provider that combines fundamental and technical analysis to offer investors tremendous value in volatile times. To see how your portfolio can use this research, click here now!
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