Analyist upgrades and downgrades

CHANGE IN RATINGS
Advance Auto Parts upgraded at Morgan Joseph8:51 AM EDT Rating on AAP was raised to Buy, Morgan Joseph said. Company continues to grow earnings, despite sluggish comp saies. $52 price target.
AMB Property upgraded at Goldman8:36 AM EDT Goldman upgraded AMB to Neutral from Sell due to improved liquidity. Increased target price to $20 from $15.
Amgen downgraded at Citigroup9:00 AM EDT Citigroup downgraded AMGN to Hold from Buy. Cites the FDA's panel decision to be cautious on dmab. Dmab was supposed to be very influential for the co. but will instead be adopted modestly. The FDA panel was concerned with dmab's impact on tumor progressions. Decreased target price to $68 from $71.
Amgen numbers lowered at UBS8:23 AM EDT AMGN target was cut to $63, UBS said. Estimates also reduced, to reflect a mixed FDA advisory committee decision. Neutral rating.
Avery Dennison upgraded at JP Morgan7:34 AM EDT AVY upgraded at JP Morgan. Rating raised to Overweight from Neutral. Price target raised to $33 from $25. Maintains 2009 EPS estimates of -$7.70.
Barnes & Noble downgraded at Credit Suisse7:22 AM EDT Credit Suisse downgraded BKS to Underperform from Neutral. The firm believes that recent acquisition of Barnes & Noble College Booksellers significantly raises the risk profile and takes away the free cash that could have been used for a dividend. Maintained target price at $15.
Citigroup estimates cut, target raised at UBS8:25 AM EDT Shares of C now seen reaching $4.25, UBS said. On the other hand, estimates were also lowered, because of a murky outlook for near-term risks. Neutral rating.
Citigroup upgraded at Merrill/BofA7:58 AM EDT Rating on C was raised from Underperform to Buy, Merrill Lynch/Bank of America said. $5.575 price target. Credit quality is stabilizing, and there is limited downside to book value.
Columbia Sportswear upgraded at Barclays8:32 AM EDT COLM was upgraded from Equal-weight to Overweight, Barclays Capital said. $45 price target. Focus on innovation is gaining traction with retailers and should begin to boost profits by 2010.
Genworth Financial downgraded at Citigroup9:00 AM EDT Citigroup downgraded GNW to Sell from Hold. The ratings decrease reflects the recent run up in the life and mortgage insurance sectors which makes the co.'s shares unattractive due to its uncertain earnings outlook and capital position. Increased target price to $6 from $4.
Gap upgraded at Wedbush Morgan8:54 AM EDT GPS was upgraded to Outperform from Neutral, Wedbush Morgan said. $23 price target. Checks suggest stronger sales at Gap and Old Navy.
King Pharmaceuticals downgraded at Needham8:57 AM EDT KG was downgraded from Buy to Hold, Needham said. Stock was already pricing in approval of Embeda.
King Pharmaceuticals target raised at UBS8:22 AM EDT Shares of KG now seen reaching $12, according to UBS. Embeda approval is great news, but was expected. Buy rating.
Men's Wearhouse upgraded at Wedbush Morgan9:02 AM EDT MW was upgraded from Neutral to Outperform, Wedbush Morgan said. $29 price target. Checks sales that sales and earnings are poised to recover.
Phillips Van Heusen upgraded at JP Morgan8:15 AM EDT PVH upgraded at JP Morgan. Rating raised to Overweight from Neutral. Price target raised to $37 from $27. 2009 EPS estimates raised to $2.35 from $2.28.
Regions Financial upgraded at Merrill/BofA7:57 AM EDT RF was upgraded from Neutral to Buy, Merrill Lynch/Bank of America said. $7 price target. Company has a sizbale capital cushion, relative to smaller peers.
SL Green Realty downgraded at Goldman8:36 AM EDT Goldman downgraded SLG to Neutral from Buy as the stock has reached the firm's target and believes that there is limited upside potential. Increased price target to $24 from $23.
Sunpower rated new Buy at Needham8:53 AM EDT Coverage of SPWRA was started with a Buy rating, Needham said. $36 price target. Company has developed several long-term competitive advantages.
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STOCK COMMENTS / EPS CHANGES
Alliance Data numbers raised at Barclays8:30 AM EDT Shares of ADS now seen reaching $68, according to Barclays Capital. Estimates also boosted, to reflect the purchase of the CHRS credit card portfolio. Overweight rating.
Autodesk numbers raised at Credit Suisse7:23 AM EDT Credit Suisse raised its numbers on ADSK to $22.50 from $18 after showing signs of stabilization and beating their estimates in Q2. Maintained Neutral rating.
Dell estimates lowered at Goldman8:35 AM EDT Goldman lowered its estimates on DELL for FY09 to $1.02 from $1.05. The co. is likely to be the main beneficiary of an upcoming corporate PC upgrade cycle and these better volumes, combined with the company's greater operating leverage, should drive its earnings and the stock higher. Maintained Buy rating.
Dr. Pepper Snapple Group target raised at Goldman8:35 AM EDT Goldman raised DPS target price to $30 from $27. Cites a more 2009-loaded commodity relief, increased marketing spend in 2H2009, and currency benefits in 2010. Estimates for FY09 raised to $1.96 from $1.81. Maintained Buy rating.
Dr. Pepper Snapple numbers raised at Merrill/BofA8:03 AM EDT DPS estimates were increased through 2010, Merrill Lynch/Bank of America said. Company seeing lower input costs and a smaller tax rate. Buy rating and new $29 price target.
DeVry target raised at Credit Suisse7:22 AM EDT Credit Suisse raised its target price on DV to $50 from $44. Cites steady growth and high quality profile. Maintained Neutral rating.
Hewlett-Packard numbers raised at Merrill/BofA7:59 AM EDT Shares of HPQ now seen reaching $52, according to Merrill Lynch/Bank of America. Estimates were also boosted, to reflect improving end-market demand. Buy rating.
Nordstrom numbers raised at Goldman8:34 AM EDT Goldman raised its numbers on JWN to $27 from $24 to reflect better margins and credit. Estimates for FY09 raised to $1.60 from $1.49. Maintained Neutral rating.
Nordstrom target raised at Credit Suisse7:24 AM EDT Credit Suisse raised its target price on JWN to $25 from $22. The firm expects the co.'s comps to improve in the 2H09, better gross margins, and lower SG&A. Maintained Neutral rating.
Las Vegas Sands target boosted at Merrill/BofA8:02 AM EDT Shares of LVS now seen reaching $14, Merrill Lynch/Bank of America said. Amended credit agreement in Macau is the next step toward an IPO. Neutral rating.
Medidata Solutions numbers raised at Credit Suisse7:23 AM EDT Credit Suisse raised its numbers on MDSO to $24 from $23 to reflect the strong fundamentals in the qtr and their revised lower share count due to the timing of the IPO. Maintained Outperform rating.
Pride International target raised at Goldman8:34 AM EDT Goldman raised its target price on PDE to $33 from $32. The firm sees potential for some consolidation in the oil services/drillers sector, mainly of "pure-play" companies exposed to specific niches such as deepwater drilling and onshore/offshore completions. Maintained Neutral rating.
Progress Energy target lowered at Goldman8:34 AM EDT Goldman lowered its target price on PGN to $36 from $37. The decrease of numbers reflects 2Q2009 earnings, lower debt issuance in 2009, and lower O&M costs due to the approved deferral of pension expenses in Florida. Estimates for FY09 raised to $2.91 from $2.90. Maintained Neutral rating.
ProLogis target raised at Goldman8:33 AM EDT Goldman raised its target on PLD to $7 from $6. The firm sees higher potential dilution from each of the co.'s deleveraging efforts. Estimates for FY09 lowered to $1.34 from $1.36. Maintained Sell rating.
Sears Holdings target raised at Credit Suisse7:22 AM EDT Credit Suisse raised its target price on SHLD to $40 from $20. The raise in numbers reflects the combination of easing comparisons against weak comps and steep markdowns last year, competitor closings, its own store closings, some traction with some of its recent promotions, numerous supplier/other retailer beats and more positive appliance channel checks. Maintained Underperform rating.
Telmex target raised at Goldman8:33 AM EDT Goldman said it is raising TMX target price to $16.20 from $15.50. As volatility recedes, investors can focus on the long term intrinsic value of the company. Estimates for FY09 raised to $1.67 from $1.65. Maintained Neutral rating.
Urban Outfitters numbers boosted at FBR7:27 AM EDT Shares of URBN now seen reaching $30, according to Friedman, Billings Ramsey. Estimates also increased, to reflect a better mix shift, focusing on its own brands. Market Perform rating.
URS target lowered at Goldman8:33 AM EDT Goldman lowered its target price on URS to $51 from $53. The co. beat its 2Q expectations but disappointed on the total number of awards it announced. Estimates lowered for FY09 to $2.90 from $3. Maintained Neutral rating.
URS Corp. target raised at Credit Suisse7:24 AM EDT Credit Suisse raised its target price on URS to $47 from $44. An increase in backlog and benefits from the stimulus package should help position the company strategically for 2010. Maintained Neutral rating.
Wal-Mart estimates raised at Goldman8:35 AM EDT Goldman raised its estimates at Goldman to $3.58 from $3.55 for FY09 to reflect the 2Q beat due to expense cuts which pushed margins higher. Maintained Neutral rating.
Wal-Mart estimates raised at UBS8:27 AM EDT WMT estimates were increased through 2011, UBS said. Company is realizing a higher gross margin. Buy rating and $62 price target.
Weyerhaeuser target lowered at Barclays8:29 AM EDT Shares of WY now seen reaching $51, Barclays Capital said. Company may have received a lower price by making a small sale of its Oregon timberlands. Overweight rating.
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STRATEGY CALLS / MARKET CALLS
Selected REITS downgraded at UBS6:34 AM EDT Selected REITS downgraded at UBS. BXP rating lowered from Neutral to Sell. EQR rating lowered to Sell from Neutral. TCO rating lowered from Neutral to Sell. KIM rating lowered from Neutral to Sell. WRI rating lowered from Neutral from Sell.
Goldman raised its target price on Natural Gas E&Ps8:32 AM EDT Goldman said it is raising its target price on E&Ps to reflect the probability of consolidation. Devon Energy (DVN) target raised $78 from $76. Maintained Buy rating. Cabot Oil & Gas (COG) target raised to $38 from $37. Maintained Neutral rating. EOG Resources (EOG) target raised to $85 from $83. Maintained Buy rating. Newfield Exploration (NFX) target raised to $48 from $47. Maintained Buy rating.
Goldman adjusts target prices for REITs8:36 AM EDT Goldman adjusted its target prices for REITS as the CRE funding market improves but states that there is still a long road to recovery. Vornado Realty Trust (VNO) target raised to $48 from $46. Maintained Neutral rating. UDR (UDR) target raised its numbers on UDR to $10 from $9. Maintained Neutral rating. The Macerich Co. (MAC) numbers raised to $20 from $14. Maintained Neutral rating. Liberty Property (LRY) target raised to $23 from $21. Maintained Neutral rating. Federal Realty Investment (FRT) numbers raised to $45 from $42. Estimates for FY09 lowered to $3.76 from $3.84. Maintained Sell rating.