UPGRADES
Diamond Foods DMND BB&T Capital Mkts Hold » Buy
Buckeye Partners BPL Deutsche Securities Hold » Buy
PMI Group PMI Piper Jaffray Market Perform » Outperform
The Mosaic Co. MOS Citigroup Sell » Hold
Diana Shipping DSX Bear Stearns Peer Perform » Outperform
Mattel MAT Oppenheimer Neutral » Buy
Targa Resources NGLS Wachovia Mkt Perform » Outperform
PNM Resources PNM Jefferies & Co Hold » Buy
DOWNGRADES
SCP Pool POOL Wedbush Morgan Buy » Hold
SCP Pool POOL Morgan Keegan Outperform » Mkt Perform
Topps TOPP Morgan Joseph Buy » Hold
Sanderson Farms SAFM Stifel Nicolaus Buy » Hold
Canadian Natl Rail CNI Stifel Nicolaus Buy » Hold
Diamond Offshore DO Calyon Securities Buy » Add
Transocean RIG Calyon Securities Buy » Add
Weatherford WFT Calyon Securities Buy » Add
ExpressJet XJT Soleil Hold » Sell
Buckeye GP Hldgs BGH Deutsche Securities Buy » Hold
Circuit City CC Bear Stearns Outperform » Peer Perform
Family Dollar FDO JP Morgan Neutral » Underweight