Here are the calls
UPGRADES
Flowserve FLS RBC Capital Mkts Sector Perform » Outperform
Taiwan Semi TSM UBS Neutral » Buy
NN Inc NNBR BB&T Capital Mkts Hold » Buy
Clear Channel Outdoor CCO Bear Stearns Peer Perform » Outperform
JB Hunt Trans JBHT Wachovia Mkt Perform » Outperform
Lamar Advertising LAMR Bear Stearns Peer Perform » Outperform
Melco PBL Entertainment MPEL Citigroup Hold » Buy
CenterPoint CNP Citigroup Hold » Buy
Agrium AGU CIBC Wrld Mkts Sector Perform » Sector Outperform
Orbitz OWW Soleil Hold » Buy
Sharper Image SHRP BMO Capital Markets Underperform » Market Perform
Autodesk ADSK Bear Stearns Peer Perform » Outperform
SAP AG SAP JP Morgan Underweight » Overweight
Blockbuster BBI JP Morgan Neutral » Overweight
CACI Intl CAI JP Morgan Underweight » Overweight
Home Depot HD UBS Sell » Neutral
Abercrombie ANF Friedman Billings Mkt Perform » Outperform
Nice Systems NICE Friedman Billings Mkt Perform » Outperform
Kohl’s KSS Deutsche Securities Hold » Buy
Countrywide CFC Banc of America Sec Sell » Neutral
DOWNGRADES
Gerdau AmeriSteel GNA Soleil Buy » Hold
McGraw-Hill MHP JP Morgan Overweight » Neutral
Wild Oats Mkts OATS Bear Stearns Outperform » Peer Perform
WNS WNS JP Morgan Overweight » Neutral
Huaneng Power HNP Citigroup Buy » Sell
SL Green Rlty SLG UBS Buy » Neutral
Boston Prpts BXP UBS Buy » Neutral
Darden Restaurants DRI Bear Stearns Outperform » Peer Perform
ChoicePoint CPS Sun Trust Rbsn Humphrey Neutral » Reduce
Curtiss-Wright CW CIBC Wrld Mkts Sector Outperform » Sector Perform