Editor's Note: Green and red arrows refer to intraday stock price movement.NEW YORK ( TheStreet) -- CHANGE IN RATINGS Adobe Systems ( ADBE) downgraded at FBR from Market Perform to Underperform. $28 price target. Creative Suite is losing its ability to drive business. AO Smith ( AOS) upgraded at Maxim from Hold to Buy. $50 price target. Company is performing well, despite rising raw materials costs. Blackboard ( BBBB) downgraded at BofA/Merrill from Buy to Underperform, Bank of America/Merrill Lynch said. $48 price target. Valuation call, as the company evaluates unsolicited bids. Blackboard ( BBBB) downgraded at Baird from Outperform to Neutral, Robert Baird said. Valuation call, based on a $50 price target. Cubist Pharmaceuticals ( CBST) upgraded at Oppenheimer from Perform to Outperform, Oppenheimer said. $37 price target. Recent settlement with TEVA was favorable for the company. Cree ( CREE) downgraded at Kaufman from Hold to Sell, Kaufman Bros. said. $29 price target. Company is seeing weaker demand and lacks visibility. Cree ( CREE) downgraded at Merriman from Buy to Neutral, Merriman Capital said. Estimates also cut, as the company is facing weaker margins. CreXus Investment ( CXS) initiated at Credit Suisse with an Outperform rating and $13 price target. Refinancing key to achieveing premium to book, Credit Suisse said. Intel ( INTC) upgraded at FBR from Market Perform to Outperform, FBR Capital Markets said. $27 price target. PC market can still grow, even as demand for tablets and smartphones ramp. Intel estimates, target boosted at UBS. Shares of INTC now seen reaching $28.50, according to UBS. Estimates also upped, given higher PC demand. Buy rating. Juniper Networks ( JNPR) downgraded at Ticonderoga from Buy to Neutral. Valuation call, as the company offered a soft profit outlook. Juniper Networks numbers reduced at UBS. JNPR estimates were cut through 2012. Company is seeing weaker enterprise demand. Neutral rating and new $42 price target. Kinder Morgan ( KMI) rated new Outperform at Morgan Keegan. $33 price target. Company can generate double-digit dividend growth over each of the next three years. Lamar Advertising ( LAMR) upgraded at Benchmark from Hold to Buy, Benchmark Company said. $40 price target. Stock has pulled back 20%, but the company can deliver solid growth.
Noble Energy ( NBL) upgraded at Wells to Outperform, Wells Fargo said. Estimates also boosted, as the company is leveraged to higher energy prices. Overseas Shipholding Group ( OSG) upgraded at Credit Suisse to Outperform from Neutral. Valuation call, tanker market in midst of longest trough since 1990, Credit Suisse said. Price target increased to $33 from $30. Portland General ( POR) upgraded at Goldman to Buy. Company trades at a discount to its peers and consensus estimates could prove conservative. Pioneer Natural ( PXD) upgraded at Wells from Market Perform to Outperform, Wells Fargo said. Estimates also boosted, as the Permian Basin should continue to drive growth. Southern Union ( SUG) upgraded at Wells from Market Perform to Outperform, Wells Fargo said. LNG project could be a game-changer for the company. VMWare ( VMW) price target boosted at Credit Suisse to $70 from $60. Strong bookings in 1Q11 results, Credit Suisse said. Maintain Underperform rating. VMWare ( VMW) upgraded at Capstone to Hold, Capstone Investments said. $86 price target. Estimates also boosted, to reflect the company's new guidance. VMWare ( VMW) estimates, target boosted at Morgan Stanley. Shares of VMW now seen reaching $112, according to Morgan Stanley. Estimates also upped, given better license and billings growth. Overweight rating. Wisconsin Electric ( WEC) downgraded at Goldman to Neutral, Goldman Sachs said. Valuation call, as the company lacks near-term catalysts. Westar Energy ( WR) downgraded at Goldman to Sell, Goldman Sachs said. Company is facing increased regulatory risk. End of report.