UPGRADES
Five Star Quality Care FVE Davenport Neutral » Buy
SI International SINT BB&T Capital Mkts Hold » Buy
Forest Labs FRX AmTech Research Neutral » Buy
Vaxgen VXGN Punk, Ziegel & Co Mkt Perform » Accumulate
ITT Industries ITT Credit Suisse Neutral » Outperform
Teradyne TER HSBC Securities Neutral » Overweight
Boeing BA Wachovia Mkt Perform » Outperform
Laboratory Corp LH Wachovia Mkt Perform » Outperform
Virgin Mobile USA VM Soleil Sell » Hold
Bankrate RATE Bear Stearns Peer Perform » Outperform
Celgene CELG Banc of America Sec Neutral » Buy
FEMSA FMX JP Morgan Neutral » Overweight
National Grid NGG Lehman Brothers Equal-weight » Overweight
Kimberly-Clark KMB Lehman Brothers Underweight » Equal-weight
Deere DE Banc of America Sec Neutral » Buy
Aetna AET JP Morgan Neutral » Overweight
DIRECTV DTV Bernstein Underperform » Mkt Perform
Grant Prideco GRP UBS Neutral » Buy
Air France KLM AKH Citigroup Hold » Buy
Royal Philips Electronics PHG Deutsche Securities Hold » Buy
Tidewater TDW Jefferies & Co Hold » Buy
OmniVision OVTI Robert W. Baird Underperform » Neutral
DOWNGRADES
Buckeye Partners BPL SMH Capital Buy » Sell
Sasol SSL Bear Stearns Outperform » Peer Perform
Public Storage PSA Wachovia Outperform » Mkt Perform
Amer. 1st Tax Exempt Inv. ATAXZ RBC Capital Mkts Outperform » Sector Perform
Intersil ISIL Jefferies & Co Buy » Hold
Casey’s General CASY Friedman Billings Outperform » Mkt Perform
Freddie Mac FRE UBS Buy » Neutral
Fannie Mae FNM UBS Buy » Neutral
Sierra Pacific SRP Deutsche Securities Buy » Hold
First Marblehead FMD Friedman Billings Mkt Perform » Underperform
