CHANGE IN RATINGS

Archer-Daniels-Midland ( ADM) downgraded at Citigroup from Hold to Sell. $25 price target. Deteriorating trends will likely become evident at the upcoming earnings report.

Ansys ( ANSS) downgraded at JPMorgan to Neutral from Overweight. Following recent 52% rally, company will likely have to deliver results at high end of guidance range to maintain high multiple. Remain bullish long-term, but would look for better entry point. Price target at $27.50.

Cabot ( CBT) downgraded at JPMorgan to Underweight from Neutral. Believe earnings will remain under pressure over next several quarters due to declining volumes of rubber black, tantalum and fumed metal oxides. Additional restructuring may be needed if fundamentals do not turn around. Price target at $8.

Cullen/Frost Bankers ( CFR) downgraded at Oppenheimer to Underperform. Economy is beginning to deteriorate in Texas, and the stock has outperformed its peers over the past year.

Duke Energy ( DUK) downgraded at Credit Suisse from Outperform to Neutral. $16 price target. Valuation is now in-line with its peers and there's the potential for lower industrial usage in the coming quarters.

Brinker International ( EAT) numbers raised at Barclays to $18. Estimates also increased, to reflect new earnings guidance, helped by cost control. Equal-weight rating.

Brinker International ( EAT) upgraded at Wachovia from Market Perform to Outperform. Company guided to higher earnings, drive by cost savings. Estimates also raised.

Con Edison ( ED) downgraded at Credit Suisse from Outperform to Neutral, Credit Suisse said. $41 price target. Valuation call, even though the company is likely to receive a positive rate case review in the coming weeks.

Estee Lauder ( EL) downgraded at UBS from Neutral to Sell. Stock is already pricing in a successful restructuring effort. $22 price target.

Equinix ( EQIX) coverage initiated at Goldman Sachs with a Neutral rating based on lengthening sales cycles and increasing competition. Expect modest margin expansion and note that long-term outsourcing trends appear intact. Price target at $70.

Intuitive Surgical ( ISRG) downgraded at Leerink Swann to Market Perform, Leerink Swann said. Uncertain economy continues to weigh on potential hospital spending. Estimates also lowered.

Eli Lilly ( LLY) downgraded at Leerink Swann to Underperform. Cash flow will likely peak in the next two years, and 70% of 2010 sales will lose patent exclusivity over the next six years.

NII Holdings ( NIHD) downgraded at Wachovia to Market Perform. Company guided to lower net adds, as business dropped off in March.

Omniture ( OMTR) downgraded at Citigroup from Buy to Hold. Valuation call, as the stock is up 75% from its January lows.

Rackspace ( RAX) upgraded at Goldman Sachs to Buy from Neutral based on improving growth profile and likely margin expansion. Company has executed well in a tough environment and is likely to post revenue growth of about 26% through 2012. Price target raised to $11.50 from $9.00.

Sunoco ( SUN) upgraded at JPMorgan to Neutral from Underweight based on valuation and potential improvement in gasoline margins. Note improved supply/demand balance for refiners. VLO remains favorite in sector. SUN price target at $34.

URS ( URS) downgraded at Credit Suisse from Outperform to Neutral. $40 price target. Stock is up 52% since early March, even outperforming the group. Company still has an attractive defensive business model.

STOCK COMMENTS / EPS CHANGES

Ford ( F) estimates, target raised at Merrill/BofA to $4. Estimates also increased, to reflect new debt reduction plan. Neutral rating.
This article was written by a staff member of TheStreet.com.