NEW YORK ( TheStreet) -- CHANGE IN RATINGSAshland ( ASH) downgraded at Susquehanna from Positive to Neutral. Valuation call. Constellation Energy ( CEG) upgraded at Jefferies from Hold to Buy. $41 price target. Merchant generators are starting to look more attractive, in the current environment. CF Industries ( CF) coverage initiated at Thomas Weisel with a Market Weight rating and $110 price target. Demand for ammonia on an upswing. 2010 and 2011 EPS estimates set at $6.43 and $7.41, respectively. Capital One Financial ( COF) downgraded at Goldman from Buy to Neutral. More cautious about consumer credit in the near ter. $45 price target. Calpine ( CPN) upgraded at Jefferies from Hold to Buy. $14.50 price target. Company is more leveraged to gas price changes. Coldwater Creek ( CWTR) upgraded at Barclays to Overweight from Equal Weight on strong 2010 guidance. Price target doubled to $10 from $5. 2010 EPS estimate lifted to 8 cents from -$0.20. Dish Network ( DISH) upgraded at Collins Stewart upgraded from Hold to Buy. $30 price target. Stock is already pricing in the downside from the TIVO lawsuit. Consolidated Edison ( ED) downgraded at Jefferies from Buy to Hold. $45 price target. Stock could underperform less regulated peers in an economic recovery. Public Service Enterprise ( PEG) upgraded at Jefferies from Hold to Buy. $35 price target. Merchant generators should benefit from lower commodity prices. Progress Software ( PRGS) upgraded at Needham from Hold to Buy. $35 price target. Company held an upbeat analyst meeting and the new management team could deliver accelerating growth. Southern Company ( SO) downgraded at Jefferies from Buy to Hold. $33.50 price target. See less upside potential for regulated utilities in the current environment. Wendy's/Arby's ( WEN) downgraded at Goldman from Buy to Neutral. $5 price target. See muted earnings growth in 2010.