Marriott ( MAR) downgraded at Wachovia. Rating lowered to Market Perform from Outperform. Valuation range raised to $19.50-$20.50 from $17.00-$18.00. 2009 EPS estimates raised to $0.96 from $0.92. Microsoft ( MSFT) upgraded at Morgan Stanley. Rating raised to Overweight from Equal-weight. Price target raised to $24 from $21. Fiscal 2009 EPS estimates raised to $1.68 from $1.65. NII Holdings ( NIHD) downgraded at Credit Suisse to Neutral from Outperform. Believes guidance is achievable but 3G is an overhang. Lowered target price to $20 from $30. Newell Rubbermaid ( NWL) downgraded at BofA/Merrill. Rating lowered to Neutral from Buy. Maintains $9 price target. Maintains 2009 EPS estimates of $0.97. Prudential ( PRU) upgraded at Goldman Sachs to Buy from Sell based on attractive valuation. Believe shares will outperform other life insurers, reducing current discount to book value multiple. Price target raised to $29 from $16. RIM ( RIMM) Upgraded to Buy at Citigroup to buy from hold and price target increased to $100 from $65. Citi expects focus will shift over next few qtrs back to RIMM's unit growth rather than gross margins. RIMM's aggressive promotions (BOGO) open new consumer adoption & accelerate "Smart Becomes Average" view of mainstream adoption vs. former high-end/niche. Enterprise stabilizing & regulatory changes (Mass state encryption) also small help to enterprise units. Trimble Navigation ( TRMB) upgraded at William Blair to Outperform from Market Perform based on reasonable valuation and slight improvements in end-markets. Note recent uptick in Agricultural Billing Index, suggesting stabilization in construction cycle.
United Parcel Service ( UPS)downgraded at Credit Suisse to Underperform from Neutral. Cites recovery not at hand and stock is expensive. Raised target price to $41 from $36. Exco Resources ( XCO) downgraded at Goldman Sachs to Neutral from Buy. shares are up 44% since being upgraded on Jan 22, leaving less potential upside. Maintained $14 target.