Analysts' Upgrades, Downgrades: Fifth Third

NEW YORK ( TheStreet.com) -- CHANGE IN RATINGS

Aflac ( AFL) downgraded at Citigroup from Buy to Hold. Estimates also cut ahead of earnings, to reflect weaker sales and rising investment losses. $36 price target.

Coach ( COH) upgraded at Piper Jaffray. Rating raised to Overweight from Neutral. Price target raised to $32 from $23. Fiscal 2010 EPS estimates raised to $1.98 from $1.95.

Cypress Semiconductor ( CY) rated new Buy at ThinkEquity. $13 price target. PSoC and data communication markets are driving growth.

Discover ( DFS) downgraded at Goldman to Buy from Conviction Buy based on valuation. The stock has rallied since being added upgraded and its current entry point is unattractive. Increased price target to $14 from $12 and normalized EPS estimates to $1.80 from $1.60.

Dow Chemical ( DOW) initiated at UBS with a Buy rating and $25 price target. Introduces 2009 EPS estimates of $0.10.

Ecolab ( ECL) upgraded at JP Morgan. Rating raised to Neutral from Underweight. Price target raised to $40 from $34. 2009 EPS estimates raised to $2.00 from $1.90.

Ensco ( ESV) downgraded at Morgan Stanley. Rating lowered to Underweight from Equal-weight. Maintains $65 price target and 2009 EPS estimates of $5.50.

Fresh Del Monte ( FDP) downgraded at Morgan Stanley. Rating lowered to Equal-weight from Overweight. Price target raised to $23 from $19. 2009 EPS estimates raised to $2.20 from $2.00.

Fifth Third ( FITB) upgraded at Goldman to Conviction Buy from Buy. Cites better and sustainable pre-provision earnings, nonperforming asset growth has decelerated, and tangible common equity is almost 7% and reserves to loans are 4.3%, providing greater capital certainty. Price target raised to $11 from $8.50. Estimates for FY09 raised to $1 from $0.92.

Massey Energy ( MEE) upgraded at FBR to Outperform. $32 price target. Company is shipping more met coal and realizing higher prices.

MGM Mirage ( MGM) downgraded at Merrill/BofAfrom Buy to Neutral. $8 price target. Pricing should remain challenged through 2009.

Morgan Stanley ( MS) downgraded at Goldman to Neutral from Buy. The company has underperformed lately as a result from poor Q2 earnings. However, the company was allowed to disentangle from regulators which should yield increased strategic flexibility. Lowered target price to $32 from $34. Estimates lowered for FY09 to ($0.45) from $0.06.

Noble Corporation ( NE) upgraded at Morgan Stanley. Rating raised to Overweight from Equal-weight. Maintains $60 price target and 2009 EPS estimates of $6.11.

National Oilwell Varco ( NOV) downgraded at Pritchard from Buy to Neutral. $35 price target. Company is seeing a limited amount of new orders.

Norfolk Southern ( NSC) downgraded at Merrill/BofAfrom Buy to Neutral. $42 price target. Estimates also cut, to reflect lower volume and yield targets.

Norfolk Southern ( NSC) estimates increased at Barclays through 2010. Company is cutting costs and pricing appears firm. Equal-weight rating and $45 price target.

Nvidia ( NVDA) rated new Accumulate at ThinkEquity. $13 price target. Tegra and Tesla will allow the company to target the smartphone and netbook markets.

Rockwell Automation ( ROK) upgraded at Merrill/BofA from Neutral to Buy. $50 price target. Estimates also raised, as the next expansion cycle should be stronger than the latest one.

Teradyne ( TER) initiated at Morgan Stanley. Initiated with an Underweight rating and $7 price target. Introduces 2009 EPS estimates of -$0.88.

Verigy ( VRGY) initiated at Morgan Stanley. Initiated with an Equal-weight rating and $15 price target. Introduces 2009 EPS estimates of -$1.62.

STOCK COMMENTS / EPS CHANGES

Celanese ( CE) numbers boosted at Barclays through 2010. Company is seeing lower raw materials and operating costs. Overweight rating and new $32 price target.

Coach ( COH) target raised at Credit Suisse to $23 from $15 to reflect the lower discount rate currently priced into many retail stocks. The increase of numbers was also prompted by the assumption of asset growth consistent with square footage growth and Cash Flow Return on Investment decreasing from 28% in 2010 to 20% in 2014. Maintained Neutral rating.

Columbia Sportswear ( COLM) numbers raised at Merrill/BofA to $25. Estimates also boosted, to reflect cost-cutting efforts. Underperform rating.

Capella Education ( CPLA) target raised at Credit Suisse to $65 from $61. The co. is one of the highest quality companies in the education space and is differentiated by its strong student value proposition, low cohort default rate, and strong management team. Maintained Neutral rating.

Coventry Health Care ( CVH) target raised at Credit Suisse to $25 from $18. Cites greater margin visibility and an ever-increasing likelihood of a bipartisan healthcare reform bill. Maintained Outperform rating.

Delphi Financial ( DFG) numbers raised at Barclays. Shares of DFG now seen reaching $23. Estimates also boosted, to reflect strong production at the Safety National subsidiary and higher alternative-investment income. Equal-weight rating.

Dreamworks ( DWA) numbers raised at Merrill/BofA to $34. Estimates boosted, to reflect higher DVD sales. Buy rating.

Genzyme ( GENZ) estimates through 2012, target cut at Citigroup. Company facing higher amortization costs. Hold rating and new $57 price target.

Interpublic ( IPG) numbers cut at Barclays to $6.50 a share. Estimates also lowered, as the poor economy is weighing on the advertising environment. Overweight rating.

Jacobs Engineering ( JEC) estimates cut at FBR. JEC estimates lowered through 2010. Project activity could be stretched out and the stock could be range-bound for a few months. Outperform rating and $49 price target.

Life Technologies ( LIFE) numbers raised at through 2010. Company is seeing strong organic growth. Overweight rating and new $53 price target.

McKesson ( MCK) estimates, target raised at Citigroup. Shares of MCK now seen reaching $62. Estimates also increased, to reflect better gross margin and expense management. Buy rating.

NetApp ( NTAP) estimates, target raised at Barclays. Shares of NTAP now seen reaching $25. Estimates also boosted, to reflect improved storage demand. Equal-weight rating.

Roper ( ROP) estimates, target increased at FBR. Shares of ROP now seen reaching $52. Estimates also raised, sequential order improvement. Market Perform rating.

Textron ( TXT) estimates, target raised at Barclays. Shares of TXT now seen reaching $15. Estimates also boosted, to reflect cost-cutting at Cessna. Equal-weight rating.

Under Armour ( UA) numbers boosted at Citigroup. Shares of UA now seen reaching $19. Estimates also raised to reflect a better margin outlook for the second half of the year. Sell rating.

Viacom ( VIA.B) estimates cut at Barclays through 2010. Film segment is masking improvement in other areas. Overweight rating and $27 price target.

Valero Energy ( VLO) numbers lowered at Barclays. Shares of VLO now seen reaching $18. Estimates also cut, to reflect higher refining losses. Equal-weight rating.

Western Digital ( WDC) numbers raised at Merrill/BofA through 2011. Company seeing higher sales and keeping a lid on costs. Buy rating and new $36 price target.

Waddell & Reed ( WDR) numbers boosted at Merrill/BofA. Shares of WDR now seen reaching $30. Estimates also increased, to report a higher organic growth rate and better operating leverage. Buy rating.
This article was written by a staff member of TheStreet.com.