NEW YORK ( TheStreet) -- CHANGE IN RATINGSADC Telecom ( ADCT) downgraded at Jefferies from Buy to Hold. See limited upside to the $12.75 takeover bid from TEL. Amerigroup ( AGP) initiated at Citi with a Buy rating and $45 price target. Favorable overall view of Medicaid, and Amerigroup is our favorite name. AK Steel ( AKS) upgraded at Goldman from Neutral to Buy. $17 price target. Company should benefit from falling iron ore prices. Allstate ( ALL) rated new Perform at Oppenheimer. Agency network is the company's most valuable asset. Codexis ( CDXS) initiated at Credit Suisse with an Outperform rating and $17 price target. The company's gene shuffling platform technology and blue chip customers create long-term value. Centene ( CNC) initiated at Citi with a Buy rating and $27 price target. A significant portion of Centene's revenue was up for bid in first half of 2010, but the next six months look better. Salesforce.com ( CRM) upgraded at UBS. CRM was upgraded from Neutral to Buy. $111 price target. Estimates also boosted, given the opportunity for the Chatter product. eHealth ( EHTH) initiated at Citi with a Sell rating and $10 price target. Health care reform could decimate eHealth's business model. Energizer ( ENR) upgraded at UBS from Neutral to Buy. $63 price target. Stock is already pricing in lower earnings, and the company has room to cut costs. Illumina ( ILMN) rated new Perform at Oppenheimer. Stock is largely pricing in the company's growth potential. Keycorp ( KEY) rated new Negative at Susquehanna. $6 price target. Company needs to raise significant capital, which will dilute current investors. Lincoln National ( LNC) downgraded at Credit Suisse to Neutral from Outperform. We see heightened risk of LNC realizing impairments on either goodwill assets, DAC assets, or statutory reserves. Price target cut to $30. Lexmark ( LXK) downgraded at Morgan Stanley from Equal-weight to Underweight. Competition is heating up, and the company faces currency risks. MDC Holdings ( MDC) downgraded at Goldman to Neutral. Company was also removed from the Conviction Buy list, as the large land purchase will require higher operating costs.
Medtronic ( MDT) rated new Outperform at Oppenheimer. Coverage of MDT was started with an Outperform rating. $48 price target. Stock is not pricing in new products in the company's pipeline. Magellan Health Services ( MGLN) initiated at Citi with a Buy rating and $47 price target. MGLN should benefit from a likely increase in outsourcing activity. Molina Healthcare ( MOH) initiated at Citi with a Buy rating and $33 price target. Molina should continue to deliver EPS upside in 2010. Motorola ( MOT) upgraded at MKM from Sell to Neutral. $7 price target. Droid launch should benefit from HTC supply and iPhone 4 operating problems. Principal Financial Group ( PFG) upgraded at Credit Suisse to Outperform from Neutral. PFG looks relatively attractive on a liquidation value basis. Price target trimmed to $32. Praxair ( PX) downgraded at Goldman from Buy to Neutral. Company is facing a more muted macro growth outlook. RLI ( RLI) rated new Market Perform at Keefe, Bruyette & Woods. Valuation call, based on a $60 price target. StanCorp Financial ( SFG) downgraded at Credit Suisse to Neutral from Outperform. Expecting top line results to remain under pressure and valuation is full. Price target plunged to $45 from $51. Sherwin-Williams ( SHW) downgraded at Goldman to Sell. Estimates also cut, based on a more cautious housing outlook. Vivus ( VVUS) upgraded at Leerink to Outperform. Qnexa is likely to be approved by the FDA. Zions Bancorporation ( ZOIN) rated new Neutral at Susquehanna Financial. Bank has yet to see an improvement in credit.
Covidien ( COV) estimates upped at Goldman. COV estimates were boosted through 2013. eV3 deal should add to earnings. Neutral rating and $48 price target. CSX ( CSX) estimates, target boosted at Goldman. Shares of CSX now seen reaching $53. Estimates also upped, given better margins and an increased stock buyback. Sell rating. eBay ( EBAY) estimates, target cut at UBS. Shares of EBAY now seen reaching $28. Estimates also lowered, given signs of a weaker marketplace and the stronger dollar. Buy rating. Expeditors Int'l. ( EXPD) estimates raised at Morgan Stanley through 2012. Company continues to navigate a difficult market. Underweight rating. Intel ( INTC) price target higher at Citi to $32 from $30. Beat & raise bodes well for 2H seasonality. Maintain Buy rating. Intel ( INTC) estimates higher at Barclays. INTC 2010 and 2010 EPS estimates increased to $2.08 and $2.14, respectively. Barclays cited robust 2Q10 results and strong guidance. Maintain Overweight rating and $26 price target. Intel ( INTC) estimates increased at UBS through 2011. Higher prices are driving record gross margins. Buy rating and $30 price target. The PMI Group ( PMI) estimate raised at Barclays. PMI 2010 EPS estimate lifted to -$2.80. Improving credit should limit red ink. Maintain Underweight rating and $4 price target. Radian Group ( RDN) price target cut at Barclays to $10 from $18. 2Q credit improving, CDS noise remains. Maintain Underweight rating. Shaw Group ( SHAW) target raised at Citi. SHAW price target increased by a dollar to $39 after strong 3Q results. Maintain Hold rating. Symantec ( SYMC) estimates, target reduced at UBS. Shares of SYMC now seen reaching $16. Estimates also cut, given the weaker Euro. Neutral rating.