Analysts' Upgrades, Downgrades: Honeywell

CHANGE IN RATINGS

Autodesk ( ADSK) upgraded at Jefferies from Hold to Buy. $27 price target. Channel survey and other checks show that business is stabilizing further.

Agnico-Eagle Mines ( AEM) initiated at Barclays with an Underweight rating and $35 price target. Analysts said AEM is a well-managed company with a strong pipeline and operations in Canada, Mexico and Finland. 2009 and 2010 EPS estimates set at $0.70 and $2.00, respectively.

Aetna ( AET) upgraded at Goldman to Sell from Conviction Sell. The firm also lowered its estimates for FY09 to $2.85 from $3.50. The co. has experienced contraction in its commercial risk margins. Maintained Sell rating and target of $23.

Aetna ( AET) price target, estimates slashed at Barclays to $31 from $35 as the company lowered its guidance. 2009 and 2010 EPS estimated lowered to $2.85 from $3.60 and to $3.10 from $3.90. Reiterate Overweight rating.

Aetna ( AET) estimates cut at Morgan Stanley through 2011. Company is raising prices on its commercial business. Equal-weight rating.

Akamai ( AKAM) rated new Outperform at JMP Securities. $27 price target. Growth should come from value-added services and rich media.

Air Products ( APD) upgraded at JP Morgan. Rating raised to Overweight from Neutral. Price target raised to $85 from $70. Maintains 2009 EPS estimates of $4.10.

Gerdau AmeriSteel ( GNA) downgraded at Goldman to Neutral from Buy. Stimulus delays and near-term earnings risks prompted the decline of ratings. The firm believes that there will be a slower pace of infrastructure spending and that it will become a potential catalyst in 2010. Lowered price target to $8 from $9. Estimates also lowered to ($0.30) from ($0.15).

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