UPGRADES
Affiliated Managers AMG Wachovia Mkt Perform » Outperform
Biofuel Energy BIOF Soleil Hold » Buy
Universal Technical Institute UTI Piper Jaffray Market Perform » Outperform
Bank of America BAC Punk, Ziegel & Co Mkt Perform » Buy
West Marine WMAR Morgan Joseph Hold » Buy
AXT Inc AXTI Roth Capital Hold » Buy
Newstar Financial NEWS William Blair Mkt Perform » Outperform
Autodesk ADSK Jefferies & Co Hold » Buy
Eagle Bulk Shipping EGLE UBS Neutral » Buy
EOG Resources EOG Citigroup Sell » Hold
Qwest Q Citigroup Sell » Hold
Franklin Resources BEN JP Morgan Underweight » Neutral
Encore Energy ENP UBS Neutral » Buy
Quicksilver Resrcs KWK Citigroup Hold » Buy
Andersons ANDE Banc of America Sec Neutral » Buy
Intl Paper IP Citigroup Hold » Buy
Oracle ORCL CIBC Wrld Mkts Sector Perform » Sector Outperform
OmniVision OVTI CIBC Wrld Mkts Sector Perform » Sector Outperform
InnerWorkings INWK Jefferies & Co Hold » Buy
Oracle ORCL Broadpoint Capital Neutral » Buy
j2 Global JCOM Jefferies & Co Hold » Buy
Lan Airlines S.A. LFL Deutsche Securities Hold » Buy
DOWNGRADES
CIBC CM RBC Capital Mkts Outperform » Sector Perform
La-Z-Boy LZB Morgan Keegan Mkt Perform » Underperform
Artes Medical ARTE Stifel Nicolaus Buy » Hold
Artes Medical ARTE Cowen & Co Outperform » Neutral
China Techfaith Wireless CNTF Brean Murray Buy » Hold
Hershey Foods HSY Bear Stearns Peer Perform » Underperform
TravelCenters of America TA UBS Buy » Neutral
Rio Tinto PLC RTP Bernstein Outperform » Mkt Perform
