UPGRADES
Total System TSS First Analysis Sec Equal-Weight » Overweight
Atheros Communications ATHR Collins Stewart Market Perform » Buy
Convergys CVG Stifel Nicolaus Hold » Buy
Cardinal Health CAH Credit Suisse Neutral » Outperform
American Axle AXL KeyBanc Capital Mkts Buy » Aggressive Buy
ManTech MANT Cowen & Co Neutral » Outperform
Potash POT Banc of America Sec Neutral » Buy
NTT DoCoMo DCM Citigroup Sell » Hold
Western Refining WNR UBS Sell » Neutral
Harvest Natural HNR Jefferies & Co Hold » Buy
Washington Post WPO Deutsche Securities Hold » Buy
DOWNGRADES
Steel Dynamics STLD Longbow Buy » Neutral
Suntech Power STP Brean Murray Buy » Hold
Tesoro Corp. TSO BMO Capital Markets Outperform » Market Perform
Office Depot ODP JP Morgan Overweight » Neutral
EuroBancshares EUBK Kaufman Bros Buy » Hold
P.A.M. Transport PTSI Morgan Keegan Outperform » Mkt Perform
Somerset Hills Bancorp SOMH Stifel Nicolaus Buy » Hold
Office Depot ODP Credit Suisse Neutral » Underperform
Puget Energy PSD Soleil Hold » Sell
Sadia S.A. SDA HSBC Securities Overweight » Neutral
Penn Natl Gaming PENN Brean Murray Buy » Hold
PharmaNet Devlpmt PDGI Jefferies & Co Buy » Hold
VeraSun Energy VSE Calyon Securities Buy » Add
Clayton Holdings CLAY JMP Securities Mkt Outperform » Mkt Perform
NVIDIA NVDA Lehman Brothers Overweight » Equal-weight
Dvlps Divers Realty DDR Deutsche Securities Buy » Hold
Stanley Inc. SXE Citigroup Buy » Hold
LIFE TIME Fitness LTM Banc of America Sec Buy » Neutral
Kensey Nash KNSY Oppenheimer Buy » Neutral
Oil States OIS Oppenheimer Buy » Neutral
Baker Hughes BHI Friedman Billings Outperform » Mkt Perform
Puget Energy PSD Robert W. Baird Outperform » Neutral
