Rock-Tenn ( RKT) upgraded at Credit Suisse from Neutral to Outperform, Credit Suisse said. $73 price target. Containerboard pricing remains strong, despite the sluggish macro environment.

Ross Stores ( ROST) upgraded at Piper from Neutral to Overweight, Piper Jaffray said. $85 price target. Secular trends should allow the company to be able to improve its merchandise.

Sprint Nextel ( S) upgraded at BofA/Merrill to Buy from Neutral, Bank of America/Merrill Lynch said. $6 price target. Stock can continue to run higher.

JM Smucker ( SJM) upgraded at Goldman from Neutral to Buy, Goldman Sachs said. $90 price target. Company is keeping costs down and demand remains strong. Management is also returning cash to shareholders.

Syntel ( SYNT) downgraded at JP Morgan from Overweight to Neutral, JP Morgan said. Other names in the industry have better secular growth trends.

Veeco Instruments ( VECO) downgraded at Deutsche from Buy to Hold, Deutsche Bank said. $38 price target. Valuation call, as the stock is up 83% year-to-date.

STOCK COMMENTS / EPS CHANGES

Applied Materials ( AMAT) numbers cut at Citigroup. Shares of Applied Materials now seen reaching $12, Citigroup said. Estimates also lowered as operating margins will unlikely trough in Jan-Q. Neutral rating.

Devon Energy ( DVN) estimates lowered at Oppenheimer through 2013, Oppenheimer said. Updates reflect new guidance. Outperform rating.

Medicis ( MRX) estimates, target cut at Credit Suisse. Shares of MRX now seen reaching $33, according to Credit Suisse. Estimates also reduced, given the company's new guidance. Underperform rating.

PetSmart ( PETM) numbers raised at Jefferies. Shares of PETM now seen reaching $64, Jefferies said. Estimates also raised on upped sales estimates. Hold rating.

Phillips 66 ( PSX) numbers raised at UBS. Shares of PSX now seen reaching $44, UBS said. Estimates also increased on upwardly revised earnings. Buy rating.

Symantec ( SYMC) added to Top Picks Live! at Citigroup. $23 price target. Attractive combination of divestiture, capital return and profitability improvements.

Wal-Mart ( WMT) numbers raised at Jefferies. Shares of WMT now seen reaching $74, Jefferies said. Estimates also raised on high second-quarter expectations. Hold rating.

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