CHANGE IN RATINGS

AK Steel ( AKS - Get Report) upgraded at Morgan Stanley from Underweight to Equal-weight. Company has above-average mid-cycle earnings power.

AK Steel ( AKS - Get Report) estimates, target raised at Merrill/BofA. Shares of AKS now seen reaching $$14, Merrill Lynch/Bank of America said. Estimates also boosted, because of positive channel checks. Underperform rating.

Burlington Northern ( BNI) downgraded at Goldman to Neutral from Buy. Cites valuation and balancing of the risk/reward scenario. Target price raised to $85 from $73.

Copa ( CPA - Get Report) downgraded at Credit Suisse to Neutral from Outperform. Valuation, lack of momentum, and weak traffic data led to the decline in ratings. Maintained price target of $42.

CSX Corp ( CSX) upgraded at Goldman to Buy from Neutral based on valuation and management's aggressive reduction in variable costs. Target price raised to $40 from $36.

Hartford Financial ( HIG) downgraded at Citigroup from Buy to Hold. $19 price target. Stock is inexpensive on book value, but the company's results will be more volatile than its peers.

Jabil Circuit ( JBL) downgraded at Credit Suisse to Neutral from Outperform. Cites negativity in their networking segment, expectations of weaker guidance, and valuation. Target price raised to $8.50 from $6.00.

Marvell Technologies ( MRVL) upgraded to Outperform at JMP and price target raised from $9 to $15. Upgrade due to a range of positive business momentum and design win checks that are driving upward revisions. Near-term, JMP believes that Marvell's controller technology is being adopted into a range of end-market devices and applications. These design wins augment its already formidable HDD presence, where checks suggest momentum continues to be strong and the outlook remains good for further market share capture in the out-year.

Nucor ( NUE) downgraded at Morgan Stanley from Overweight to Equal-weight. Valuation call, as the sector has already rallied ahead of improving fundamentals.

Omniture ( OMTR) upgraded at Morgan Stanley to Overweight. $18 price target. Company is positioned well for growth, as channel checks show pent-up demand.

SEI Investments ( SEIC - Get Report) upgraded at Oppenheimer. Rating raised to Outperform from Perform. Establishes $22 price target. 2009 EPS estimates raised to $0.93 from $0.86.

Safeway ( SWY) upgraded to Buy at Jefferies from Hold and price target increased to $26 from $20. Stabilization of the macro climate could really add some sizzle to the Safeway story. SWY's home turf has been battered with cities like Portland and San Jose seeing unemployment spike by over 500 bps in the last year, much more than the national average of 390 bps. Jefferies believes that Safeway should see an outsized benefit if the economy improves. The valuation is compelling at 9x below-consensus FY10 estimate and a free-cash-flow-yield of 11%. DCF places the intrinsic value at roughly $36, using a relatively conservative long-term EBIT estimate of 4.0%.

Valeant Pharmaceuticals ( VRX) downgraded at Wachovia. Rating lowered to Underperform from Market Perform. Valuation range lowered to $15-$17 from $15-$18. 2009 EPS estimates lowered to $1.16 from $1.26.

US Steel ( X - Get Report) upgraded at Morgan Stanley from Equal-weight to Overweight. $45 price target. Fundamentals are improving and a pick-up in US demand could soon follow. Following a recent sector rally, thr company appears to have the most upside potential.

STOCK COMMENTS / EPS CHANGES

Apple ( AAPL - Get Report) target, estimates boosted at Barclays through 2010. $173 price target. Estimates also raised, new products should help drive cash flow growth. Overweight rating.

Apple ( AAPL - Get Report) target raised at Credit Suisse to $165 from $140. Indications of an imminent return for Steve Jobs and stability in their Mac line led to an increase in numbers. Maintained Outperform rating.

TD Ameritrade ( AMTD) target raised to $19 at Friedman, Billings Ramsey. Company has strong May volumes, and is on pace for a record quarter. Market Perform rating.

Best Buy ( BBY) 2009 estimates increased at Keybanc because of higher expected gross margins. Company is benefiting from the departure of Circuit City from the market. Buy rating and $45 price target.

Franklin Resources ( BEN) target boosted at FBR to $70 a share. Company should be able to perform better than its peers in the current market environment. Market Perform rating.

Disney ( DIS) estimates raised at Barclays through 2010. "Up" movie is performing above expectations at the box office. Overweight rating and $32 price target.

Freeport-McMoran ( FCX) numbers raised at Merrill/BofA through 2011. Company likely to realize higher metals prices, though recent copper gains may not be sustainable. Underperform rating and new $47 price target.

Fiserv ( FISV) target raised at Credit Suisse to $55 from $50. Management is confident with their business model forecasting long-term organic growth and strengthening margins. Maintained Outperform rating.

Prudential ( PRU) estimates lowered at Barclays through 2010. New equity issuance will cut into earnings. Underweight rating and $33 price target.

Texas Instruments ( TXN) numbers boosted at Morgan Stanley through 2010. Company is showing more leverage and should continue to grow gross margins. Overweight rating and new $24 price target.

Texas Instruments ( TXN) numbers raised at Barclays to $22. Estimates also increased, to reflect higher mid-quarter guidance. Wireless continues to decline however, which could offset management's cost focus. Equal-weight rating.

This article was written by a staff member of TheStreet.com.