CHANGE IN RATINGS

Amazon ( AMZN) downgraded at Collins Stewart to Hold. Company had a disappointing quarter and lower operating profit guidance.

Amazon ( AMZN) target, estimates increased at Barclays to $83 from $76. 2009 and 2010 EPS estimates lifted to $1.75 from $1.70 and to $2.22 from $2.10, respectively. Maintain Equal Weight rating.

Amazon ( AMZN) target increased at Bernstein to $90. Margins are growing despite decelerating North American sales. Market Perform rating.

Broadcom ( BRCM) downgraded at JMP to Market Underperform. $25 price target. Recovery momentum will likely peak this quarter.

Broadcom ( BRCM) target, estimates raised at Barclays to $30 from $24 as 2Q results showed revenue above expectations. 2009 and 2010 ESP estimates lifted to $0.96 from $0.65 and to $1.36 from $1.12, respectively. Maintain Equal Weight rating.

Cooper Industries ( CBE) upgraded at Oppenheimer from Perform to Outperform, Oppenheimer said. $39 price target. Earnings are improving and the stock trades at a discount both to its peers and its average historical valuation.

Celgene ( CELG) downgraded at Morgan Joseph to Hold. Valuation call, as the company's earnings will likely come in at the low end of guidance.

Celgene ( CELG) estimates boosted at Morgan Stanley through 2010. MM-015 will drive significant growth in Revlimid sales and the company should see multiple expansion. Overweight rating and $65 price target.

Con-way ( CNW) upgraded at JPMorgan to Overweight from Neutral. Price target raised to $50 from $24. 2009 EPS estimates raised to $1.12 from $0.60.

Changyou.com ( CYOU) downgraded at Roth from Buy to Hold. Valuation call, as some growth is already priced in. $40 price target.

Deckers Outdoor ( DECK) downgraded at Weisel to Market-weight. $75 price target. Evidence is building of slower domestic growth.

E*Trade ( ETFC) upgraded at Citigroup from Sell to Hold. $1.50 price target. Estimates also raised to reflect record trading activity and a change in share count.

Hershey ( HSY) target raised at Goldman to $36 from $34. The raise in the co.'s price target reflects valuation and better sales growth as gross margins expanded. Maintained Sell rating.

Hershey ( HSY) upgraded at Credit Suisse to Neutral from Underperform. The co. has demonstrated that its reinvestment in advertising and sales force infrastructure is working and is expected to repurchase share in the 2H09. Increased target price to $43 from $33.

Hershey ( HSY) downgraded at Deutsche Bank. Rating lowered to Sell from Hold. Price target raised to $35 from $34. 2009 EPS estimates raised to $2.04 from $2.03.

Informatica ( INFA) downgraded at Citigroup from Buy to Hold. $19 price target. Estimates also cut, to reflect lower sales and a higher share count.

Juniper Networks ( JNPR) upgraded at Goldman to Buy from Neutral. The co. has some of the best long term growth fundamentals in CommTech as it has over 70% exposure to the high growth service provider routing market, share gains in the $15 billion Ethernet switch market, and a benign competitive and pricing environment. Increased it target price to $29 from $24

Juniper Networks ( JNPR) target raised at Credit Suisse to $24 from $18 following improved visibility and valuation. Maintained Neutral rating

3M Company ( MMM) upgraded at Merrill/BofA to Neutral from Underperform as near term performance is likely to improve. 2009 and 2010 EPS estimates lifted to $4.30 from $3.90 and to $4.65 from $4.00, respectively. Price target surged from $56 to $75.

3M ( MMM) target, estimates raised at Barclays to $77 from $62 on solid 2Q results. 2009 and 2010 EPS estimates lifted to $4.20 from $3.70 and to $4.50 from $4.10, respectively. Maintain Equal Weight rating.

3M ( MMM) estimates, target raised at FBR to $76. Estimates also boosted to reflect the company's new guidance. Outperform rating.

Microsoft ( MSFT) target lifted, forecasts lowered at Barclays. MSFT's price target to $20 from $18 on cautious long-term outlook. 2009 and 2010 EPS estimates slashed from $1.72 to $1.70 and from $1.77 to $1.56, respectively. Reiterate Equal Weight rating.

Microsoft ( MSFT) downgraded at FBR from Outperform to Market Perform. $25 price target. IT spending demand will ultimately pick up in 2010, but likely bounce along the bottom in the meantime.

Netflix ( NFLX) downgraded at Oppenheimer from Perform to Underperform, Oppenheimer said. $38 price target. Valuation call, as higher DVD sales are hurting the company.

Northrop Grumman ( NOC) downgraded at Merrill/BofA to Underperform as Gulf Coast shipyards need improvement. Price target lowered to $50. 2009 and 2010 EPS estimates set at $4.95 and $5.75.

ProLogis ( PLD) upgraded at JPMorgan to Neutral from Underweight. Price target raised to $8 from $7. 2009 EPS estimates raised to $1.39 from $1.20.

Plantronics ( PLT) downgraded at Morgan Keegan to Market Perform. Valuation call, as the stock is up 63% year-to-date.

Potash ( POT) downgraded at JPMorgan to Neutral from Overweight. 2009 EPS estimates lowered to $3.15 from $5.80. Maintains $90 price target.

RadioShack ( RSH) upgraded at FBR to Outperform, Friedman, Billings Ramsey. Estimates also raised, to reflect wireless initiatives.

Charles Schwab ( SCHW) downgraded at Citigroup from Buy to Hold. $18 price target. Estimates also cut, as the company will likely be cautious in its upcoming interim business update.

Sunpower ( SPWRA) upgraded at Collins Stewart from Sell to Hold. Component sales drove revenue upside last quarter, and earnings were strong despite a lower gross margin.

Sunpower ( SPWRA) upgraded at FBR from Market Perform to Outperform. $40 price target. Company has increased business prospects in the rooftop segment of the market.

Safeway ( SWY) estimates lowered at Morgan Stanley through 2011. Company is seeing lower same-store sales and facing higher pension expenses. Underweight rating and $16 price target.

Safeway ( SWY) downgraded at UBS. Rating lowered to Neutral from Buy. Price target lowered to $19 from $25. 2009 EPS estimates lowered to $1.75 from $2.20.

Temple-Inland ( UBS) upgraded at UBS. Rating raised to Buy from Neutral. Price target raised to $17 from $15. 2009 EPS estimates raised to $0.85 from $0.55.

MEMC Electronic ( WFR) downgraded at Oppenheimer from Outperform to Perform. Valuation call, as the company still faces significant headwinds.

Zimmer ( ZMH) upgraded at Merrill/BofA to Neutral from Underperform after solid 2Q results that showed no sign of weakness. 2009 and 2010 EPS estimates set at $3.86 and $4.22, respectively. Price target boosted from $43 to $48.

STOCK COMMENTS / EPS CHANGES

Baidu ( BIDU) target raised at Goldman to $376 from $350. The co. reported earnings that exceed the firm's expectations which left a positive sentiment feeling. Cites that the co. benefitted from secular demand for search, smooth deployment of phoenix Nest, and limited competition. Maintained Buy rating.

Baidu ( BIDU) target raised at Bernstein to $400. Company posted a strong quarter and is gaining market share despite a downturn in the Chinese economy. Outperform rating.

Burlington Northern ( BNI) target raised at Credit Suisse to $79 from $63 based on valuation and the assumption that the co. can grow operating profit at 7.5% annually on a 3-5 year basis. Maintained Neutral rating.

Bally Technologies ( BYI) target raised at Goldman to $39 from $31. The stock has additional upside due to its solid cost-cutting initiatives and redesigned game development process which should help to drive accelerated earnings growth. Maintained Neutral rating.

Cheesecake Factory ( CAKE) target raised at Goldman to $20 from $18. The co. has reported a strong move in recent weeks fueled by top-line stabilization, cost savings, margin improvement, and SSS stabilizing. Maintained Neutral rating.

Cheesecake Factory ( CAKE) target, estimates boosted at Barclays to $18 from $12 after significant 2Q EPS upside. Analysts see long term growth. 2009 and 2010 EPS estimates increased to $0.98 from $0.79 and to $1.16 from $0.94, respectively. Maintain Equal Weight rating.

Chubb ( CB) price target lifted at Merrill/BofA to $55 from $53. Maintain Buy rating.

Capital One ( COF) target, estimate raised at Barclays. COF's price target to $30 from $20. 2009 EPS estimate increased to -$0.17 from -$0.42. Maintain Equal Weight rating.

Danaher ( DHR) numbers lowered at FBR through 2010. Company posted a significant core revenue miss last quarter. Market Perform rating and new $59 price target.

EnCana ( ECA) target raised at Goldman to $54 from $52 to reflect lower debt levels, improved capital efficiency, and greater credit for improvements in the Horn River Basin and other resource plays. Maintained Neutral rating.

EMC Corp ( EMC) price target lifted at Merrill/BofA to $15 from $13. Maintain Neutral rating.

ITT Educational ( ESI) estimates boosted at Morgan Stanley through 2010. Company boosted guidance, though DSO's and bad debt are also rising. Overweight rating and $140 price target.

Ford ( F) estimates, target raised at UBS to $9. Estimates also increased to reflect higher expected market share. Buy rating.

Ford ( F) target lowered at Credit Suisse to $7 from $8. The co.'s results are strengthening and valuation implies further improvement in profitability. However, the co. needs to strengthen its balance sheet and an equity offering is expected in the future to do just that. Maintained Neutral rating.

Goodrich ( GR) target lowered at Goldman to $62 from $63. The co. still seems very attractive as it has a very favorable aftermarket position as it will recover significantly earlier than OE, it is also driving a much earlier and shallow earnings trough, the co.'s defense business remains better positioned than ITS peers, and cash flow remains strong. Maintained Conviction Buy rating.

Huntington Bancshares ( HBAN) numbers lowered at FBR to $4. Estimates also cut, to reflect higher credit losses. Market Perform rating.

Starwood Hotels ( HOT) target raised, estimates changed at Merrill/BofA .HOT's price target to $18 from $15 after strong 2Q results. 2009 EPS estimate lowered to $0.73 from $0.81 and 2010 EPS estimate raised to $0.70 from $0.67. Maintain Underperform rating.

Healthways ( HWAY) target raised at Goldman to $11 from $10 based on positive earnings results and valuation. Maintained Sell rating.

International Game Technology ( IGT) target raised at Goldman to $25 from $20. The stock has additional upside due to its solid cost-cutting initiatives and redesigned game development process which should help to drive accelerated earnings growth. Maintained Buy rating.

Illinois Tool Works ( ITW) numbers boosted at Morgan Stanley to $33. Estimates also raised, to reflect cost-cutting. Equal-weight rating.

KLA-Tencor ( KLAC) numbers increased at UBS to $32. Estimates also boosted, to reflect strong bookings, especially in memory. Neutral rating.

Kimberly-Clark ( KMB) target, estimates lifted at Barclays to $59 from $54 on 2Q beat and substantial guidance increase. 2009 and 2010 EPS estimates raised to $4.41 from $4.16 and to $4.91 from $4.63, respectively. Reiterate Equal Weight rating.

Manpower ( MAN) target raised at Credit Suisse to $52 from $45. Continuing signs of stabilization, slight improvements in the U.S. and France segments, and valuation make this co. attractive and more of a reward than a risk for the long term. Maintained Outperform rating.

Omnicom ( OMC) price target, estimates higher at Merrill/BofA. OMC's price target to $36 from $33. 2009 and 2010 EPS estimates increased to $2.54 from $2.44 and to $2.70 from $2.58, respectively. Maintain Neutral rating.

Occidental Petroleum ( OXY) target raised at Goldman to $84 from $80 as growth prospects are furthered after discovering the excess reserves in California. Maintained Neutral rating.

Occidental Petroleum ( OXY) target, estimate raised at Barclays to $70 from $68 as analysts said oil leverage and growing optimism provide excitement. 2010 EPS estimate inflated to $4.95 from $4.90. Maintain 2009 EPS estimate of $3.55 and Overweight rating.

Philip Morris ( PM) target raised at Goldman to $54 from $51. Cites that global cigarette pricing remains healthy, ongoing cost saving initiatives, improvement in forex volatility, healthy free cash flow generation, and the co. still offers one of the best sustainable growth profiles in consumer staples as earnings growth is expected to mature at a 12%-13% rate. Maintained Buy rating.

PMC Sierra ( PMCS) estimates raised at Morgan Stanley through 2010. Company guided higher, based on enterprise storage and fiber-to-the-home demand. Equal-weight rating.

PNC ( PNC) target, estimates lowered at Barclays. PNC's price target to $49 from $53 after 2Q EPS miss. 2009 and 2010 EPS estimates plummet to $2.00 from $2.45 and to $3.00 from $3.40, respectively. Maintain Equal Weight rating.

PNC Financial ( PNC) estimates lowered at FBR through 2010. Company is facing higher margin and credit pressures. Underperform rating.

Reliance Steel ( RS) estimates, target lowered at UBS through 2010. Company had a surprise, first-ever loss and won't bounce back quickly. Neutral rating and new $40 price target.

Riverbed Technology ( RVBD) target lowered at Goldman to $22.50 from $24. The co. recent earnings missed expectations which will stall momentum amidst improving demand it is experiencing. Maintained Neutral rating.

SolarWinds ( SWI) target raised at Goldman to $20.50 from $18. The company's brand and market seeding strategy has established significant barriers to competition. The firm also expects further reacceleration of new bookings as we move into the second half. Maintained Buy rating.

Solarwinds ( SWI) numbers boosted at Morgan Stanley through 2011. Company has high growth and estimate could still prove conservative. Overweight rating and new $22 price target.

AT&T ( T) estimates raised at Morgan Stanley through 2010. Company is adding more wireless subscribers with the iPhone and has cut back on CapEx spending. Overweight rating and $32 price target.

Terex ( TEX) target, estimates changed at Barclays. TEX's price target to $14 from $10 as the company showed inventory and cost reductions. 2009 and 2010 EPS estimates lowered to -$1.15 from -$0.65 and to $0.10 from $0.15, respectively. Reiterate Equal Weight rating.

Union Pacific ( UNP) numbers raised at Credit Suisse to $66 from $52. Catalysts moving forward include several potential near-term volume opportunities, domestic intermodal growth from new truck competitive services, and being able to react should freight turn the corner as specific recall plans are in place to bring back assets. Maintained Outperform rating.

United Parcel Services ( UPS) target raised at Credit Suisse to $45 from $42 based on valuation and that the co. can grow operating profits at 9.5% annually. Maintained Underperform rating.

WMS ( WMS) target raised at Goldman to $40 from $34. The stock has additional upside due to its solid cost-cutting initiatives and redesigned game development process which should help to drive accelerated earnings growth. Maintained Neutral rating.

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

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