AnnTaylor ( ANN) downgraded at Goldman from Buy to Neutral. Estimates also cut, as promotional activity may increase in the women's sector.

Aon Corp ( AON) upgraded at BofA/Merrill to Buy from Neutral. Share price drop after the announced acquisition of Hewitt presents buying opportunity, Bank of America/Merrill Lynch said. Maintain $45 price target.

Ameristar Casinos ( ASCA) downgraded at BofA/Merrill to Underperform from Neutral as regional gaming revenues have slowed in 2Q10, Bank of America/Merrill Lynch said. Price target sunk to $11 from $20.

Calix ( CALX) initiated at BofA/Merrill with an Underperform rating and $10 price target. Street is over optimistic on margins targets.

Rockwell Collins ( COL) upgraded at BofA/Merrill to Buy from Neutral. Expecting bizjet recovery and 787 production ramp-up. Maintain $75 price target.

Copano Energy ( CPNO) downgraded at UBS from Buy to Neutral. $26 price target. Company will like post weak second quarter results.

Commvault Systems ( CVLT) downgraded at Stifel from Buy to Hold. Company is seeing lower sales across the board.

Emcor ( EME) upgraded at FBR from Market Perform to Outperform. $39 price target. Company has a strong balance sheet and should benefit from an improving macro environment.

FMC Corp ( FMC) initiated at Credit Suisse with an Outperform rating and $73 price target. FMC's significantly improved returns and quality of its portfolio offer a solid balance of growth and cash generation.

Hewitt Associates ( HEW) downgraded at Deutsche from Buy to Hold. $48 price target. See limited chance for a competing bid to AON's offer.

Illinois Tool Works ( ITW) upgraded at Deutsche from Hold to Buy. $59 price target. Core revenue growth should outperform the sector.

JP Morgan ( JPM) rated new Outperform at RBC Capital Markets. $45 price target. Stock has been hit of late, but remains attractively valued, given the normalized earnings potential.

Pharmaceutical Product Development ( PPDI) upgraded at Goldman to Buy. $31 price target. Estimates also boosted, given higher sales expectations.

Patterson-UTI ( PTEN) upgraded at Morgan Stanley from Equal-weight to Overweight. $22 price target. Company is leveraged to increasing spot rates.

Syniverse Technologies ( SVR) rated new Buy at Goldman. $26 price target. Company should benefit from continued growth in mobile data growth.

Textron ( TXT) upgraded at BofA/Merrill to Buy from Neutral. Valuation call. Maintain $25 price target.

Urban Outfitters ( URBN) downgraded at Goldman from Buy to Neutral. Valuation call. Estimates also lowered, because of macro growth risks.


Alcoa ( AA) estimates lowered at UBS through 2011. Company is seeing lower aluminum prices. Neutral rating and $12.85 price target.
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Allergan ( AGN) target upped at Goldman to $81. Company is a potential takeover target. Buy rating.

AOL ( AOL) target reduced at Goldman to $24. Europe continues to weigh on business. Neutral rating.

Chevron ( CVX) estimates increased at UBS through 2011. Company is guiding toward better results, aided by lower costs. Buy rating and $95 price target.

eBay ( EBAY) estimates, target cut at Goldman. Shares of EBAY now seen reaching $23. Estimates also reduced, given slower international growth and lower U.S. conversion rates. Neutral rating.

Fairchild ( FCS) estimates, target cut at UBS. FCS estimates were lowered through 2011. Growth could moderate in the near term. Buy rating and new $12 price target.

Novellus Systems ( NVLS) numbers raised at UBS. Shares of NVLS now seen reaching $29.50. Estimates also increased, as orders should improve in the second half of the year. Neutral rating.

Royal Caribbean ( RCL) numbers lowered at Goldman. RCL estimates were cut through 2012. Company will likely see lower net yields. Neutral rating and new $25 price target.

Shaw ( SHAW) estimates, target reduced at UBS. Shares of SHAW now seen reaching $38. Estimates also lowered, to reflect the company's lower backlog. Neutral rating.

Wynn Resorts ( WYNN) target cut at Goldman. Shares of WYNN now seen reaching $88. Multiple could contract in the volatile market environment. Neutral rating.
This article was written by a staff member of TheStreet.