NEW YORK ( TheStreet) -- CHANGE IN RATINGSAdobe Systems ( ADBE) numbers boosted at Jefferies through 2010. Headcount reduction should boost margins. Hold rating and new $40 price target. Adobe Systems ( ADBE) downgraded at Oppenheimer from Outperform to Perform. Valuation call, as the selling environment remains challenging. Allegheny Energy ( AYE) downgraded at Citigroup from Buy to Hold. $23 price target. Estimates also cut, to reflect new details about the merchant supply business. Dime Communications ( DCOM) upgraded at Barclays to Overweight from Equal Weight. Price target increased to $15 from $12. 2009 and 2010 EPS estimates raised to $0.93 and $1.15, respectively. Education Management ( EDMC) initiated at BofA/Merrill with a Buy rating and $26 price target. 2010 and 2011 EPS estimates set at $1.10 and $1.33, respectively. Education Management ( EDMC) initiated at Barclays with an Overweight rating and $27 price target. 2010 and 2011 EPS estimates set at $1.12 and $1.43, respectively. Fluor ( FLR) upgraded at Citigroup from Sell to Hold. Company had a mixed quarter, but risks are already being priced into the stock. $50 price target. FPL Group ( FPL) upgraded at Citigroup from Hold to Buy. $58 price target. Stock looks attractive ahead of its next rate case in Florida. Hewitt Associates ( HEW) upgraded at Deutsche Bank. Rating raised to Buy from Hold. Price target raised to $55 from $35. 2009 EPS estimates raised to $2.67 from $2.60. Microchip Tech ( MCHP) upgraded at Goldman from Sell to Neutral. $24 price target. Valuation call, as the company is poised to gain market share in the near term.
Myriad Genetics ( MYGN) upgraded at Morgan Joseph from Sell to Hold. Stock is now pricing in lower growth expectations. Smithfield Foods ( SFD) upgraded at Deutsche Bank. Rating raised to Buy from Hold. Price target raised to $20 from $12. Fiscal 2010 EPS estimates raised to -$0.27 from -$0.88. Talecris Biotherapeutics ( TLCR) initiated at Barclays with an Equal Weight rating and $24 price target. 2009 and 2010 EPS estimates set at $1.42 and $1.60, respectively. Talecris Bio ( TLCR) estimates raised at Morgan Stanley through 2010. Visibility is improving and the company is realizing lower R&D sales. Overweight rating and $24 price target. Toll Brothers ( TOL) upgraded at Wells from Market Perform to Outperform. Company has strong order growth and should be profitable in 2010. Tyson Foods ( TSN) downgraded at JP Morgan. Rating lowered to Neutral from Overweight. Price target lowered to $12 from $14. Maintains 2009 EPS estimates of $0.33. Webster Financial ( WB) upgraded at Barclays to Overweight from Equal Weight on valuation. 2009 and 2010 EPS estimates set at -$1.71 and $0.10, respectively. Maintain $15 price target. Zions Bancorp ( ZION) downgraded at Morgan Keegan from Outperform to Market Perform. Company likely to be hit by ongoing regulatory pressure for banks to have higher capital reserves.
Salesforce.com ( CRM) price target higher at BofA/Merrill to $72 as booking should re-accelerate. 2010 and 2011 EPS estimates set at $1.11 and $1.27, respectively. Cytec ( CYR) added to Conviction Sell list at Goldman. Valuation call, as the company has high exposure to the late-cycle aerospace industry. $31 price target. Express Scripts ( ESRX) price target boosted at Barclays to $95 from $92. 2009 and 2010 EPS estimates maintained at $3.45 and $4.65, respectively. Reiterate Equal Weight rating. Gilead Sciences ( GILD) numbers raised at Goldman through 2011. Growth in Europe is set to rise. Neutral rating and new $53 price target. Gamestop ( GME) cut from Conviction Buy list at Goldman. Estimates also lowered to reflect weaker video game industry sales. $29 price target. Hewitt Assoc. ( HEW) estimates raised at Goldman through 2012. Company guided to improving margins. Sell rating and $36 price target. Medco Health Solutions ( MHS) price target lifted at Barclays by two dollars to $68. Maintain 2009 and 2010 EPS estimates at $2.82 and $3.35, respectively. Reiterate Overweight rating. Newell Rubbermaid ( NWL) estimates cut at Goldman through 2011. Convertible bonds will be dilutive to earnings. Neutral rating and $16 price target. O'Reilly Automotive ( ORLY) numbers boosted at Goldman. Shares of ORLY now seen reaching $45. Estimates also raised, to reflect a ramp in the CSK integration. Neutral rating. Priceline.com ( PCLN) estimates increased at Morgan Stanley through 2011. Company is seeing higher bookings, especially overseas. Equal-weight rating.
Teco Energy ( TE) numbers raised at Morgan Stanley Shares of TE now seen reaching $16.25. Estimates also increased, to reflect improving coal margins. Overweight rating. Tesoro ( TSO) price target cut at Barclays by a dollar to $16. 2009 and 2010 EPS estimates lowered to -$0.05 and $1.20, respectively. Maintain Equal Weight rating. TechTarget ( TTGT) estimates higher at Barclays. TTGT 2009 EPS estimate up by a penny to $0.21, 2010 introduced at $0.30. Reiterate Equal Weight rating and $5 price target. Tyco International ( TYC) 2010 estimate cut at Barclays by 5 cents to $2.50 after conservative guidance by the company. Maintain Equal Weight rating and $43 price target. Tyco ( TYC) estimates, target raised at UBS. Estimates were increased through 2010. Target also boosted, to reflect the potential for acquisitions and/or a stock buyback. Buy rating. Weyerhaeuser ( WY) estimates higher at Barclays. 2009 EPS estimate tweaked to -$2.05 from -$2.06, 2010 raised by a dime to -$0.45. Reiterate Overweight rating and $55 price target.