Apple ( AAPL) upgraded at RBC to outperform from underperform and price target increased to $165 from $95. RBC believes there is improved margin visability, stronger resiliency, sustainable outperformance and the belief that Steve Jobs will likely return to Apple. Apple ( AAPL) target raised at Credit Suisse to $140 from $133 following solid second-quarter results. Maintained Outperform rating. Brocade ( BRCD) upgraded at Jefferies to buy from hold at Jefferies and price target increased to $6 from $3.50. Jefferies believes opportunities will materialize as risk abates: channel checks indicate that first phase of IBM deal will be announced next week, phase II to start in June/July, new products enabling entry into adjacent markets and debt balance manageable. CTXS ( CTXS) downgraded at UBS. Rating lowered to Sell from Neutral. Price target lowered to $22.50 from $25.00. Maintains 2009 EPS estimates of $1.54. Dick's Sporting Goods ( DKS) downgraded at Citigroup from Buy to Hold. Valuation call, as comp sales will likely fall through the remainder of the year. Equinix ( EQIX) downgraded at Oppenheimer from Outperform to Perform. $67 price target. Valuation call, even though the company posted a strong quarter. Morgan Stanley ( MS) estimates, target cut at Barclays. Shares now seen reaching $26. Estimates also lowered, because of further write-downs. Equal-weight rating. Morgan Stanley ( MS) upgraded at Merrill Lynch/Bank of America from Underperform to Neutral. Valuation call, based on a $24 price target. Estimates also cut because of weak equities and more real estate losses. Packaging Corp of America ( PKG) downgraded at Goldman to Neutral from Buy based on valuation. Believe shares are discounting mid-cycle valuation and now offer limited upside. Price target raised to $16 from $13.