Bed, Bath & Beyond ( BBBY) numbers raised at Barclays to $25. Estimates also increased, to reflect higher gross margins. Further market share gains will likely be limited. Equal-weight rating. Bed Bath & Beyond ( BBBY) upgraded at JPMorgan to neutral from underweight and price target increased to $28 from $20. JPM doesn't believe the stock will move materially higher than $28-$29 in the near term, the valuation at this price is similar to other best in segment/cyclical retailers. No near term catalyst for a pullback. Raising estimates to $1.65 from $1.45 in 2009 and to $1.95 from $1.85 in 2010 mainly on better gross margin. ConocoPhillips ( COP) downgraded at UBS from Buy to Neutral. $42 price target. Estimates also cut, to reflect lower commodity prices. Emulex ( ELX) downgraded at JPMorgan to Underweight from Overweight. Price target lowered to $6 from $8. 2009 EPS estimates lowered to $0.22 from $0.23. Expedia ( EXPE) downgraded at Merrill Lynch/Bank of America from Buy to Neutral. $10.10 price target. Travel environment has not shown any meaningful signs of improvement. Newmont Mining ( NEM) rated new Hold at Citigroup. Company is less hedged and has performed better of late than others in the space, like ABX. Spectra Energy ( SE) downgraded at Wachovia to Market Perform. Valuation call, especially as the company will need 100% of its earnings to cover the dividend this year. State Street ( STT) downgraded at Merrill/BofA to Neutral. Stock has had a health run, and the company faces multiple revenue pressures. $35 price target.