Upgrades
Radyne (RADN)- Feltl & Co. Hold » Buy
XM Satellite (XMSR)- Utendahl Equal-weight » Over-weight
Force Protection (FRPT)- Collins Stewart Sell » Hold
L-1 Identity Solutions (ID)- Needham & Co Hold » Buy
N Amer Palladium (PAL)- HSBC Securities Underweight » Neutral
Avant Immun (AVAN)- Needham & Co Hold » Buy
XM Satellite (XMSR)- Stifel Nicolaus Hold » Buy
Canadian Solar (CSIQ)- Lazard Capital Hold » Buy
Boardwalk Pipeline (BWP)- Morgan Keegan Mkt Perform » Outperform
Orleans Homebuilders (OHB)- JMP Securities Mkt Perform » Mkt Outperform
Pulte Homes (PHM)- JMP Securities Mkt Perform » Mkt Outperform
Meritage (MTH)- JMP Securities Mkt Perform » Mkt Outperform
DR Horton (DHI)- JMP Securities Mkt Outperform » Strong Buy
Packeteer (PKTR)- Brean Murray Sell » Hold
CIGNA (CI)- Credit Suisse Neutral » Outperform
Wimm-Bill-Dann Foods (WBD)- Citigroup Hold » Buy
THQ Inc (THQI)- Citigroup Hold » Buy
Yahoo! (YHOO)- Citigroup Hold » Buy
Downgrades
SiRF Technology (SIRF)- Piper Jaffray Neutral » Sell
Agree Realty (ADC)- Janney Mntgmy Scott Buy » Sell
Omega Health (OHI)- Ferris Baker Watts Buy » Neutral
XM Satellite (XMSR)- Janco Partners Buy » Accumulate
Williams-Sonoma (WSM)- FTN Midwest Buy » Neutral
Volcom (VLCM)- Wedbush Morgan Buy » Hold
Stillwater Mining (SWC)- HSBC Securities Neutral » Underweight
Heartland Payment Systems (HPY)- Sun Trust Rbsn Humphrey Buy » Neutral
Starwood Hotels (HOT)- Stifel Nicolaus Buy » Hold
FPIC Insurance (FPIC)- Stifel Nicolaus Buy » Hold
Extra Space Storage (EXR)- Banc of America Sec Buy » Neutral
Prosperity Bancshares (PRSP)- BMO Capital Markets Outperform » Market Perform
Public Storage (PSA)- Banc of America Sec Buy » Neutral
Accentia Biopharmaceuticals (ABPI)- Jefferies & Co Buy » Underperform
Capital One (COF)- Friedman Billings Mkt Perform » Underperform
UnitedHealth (UNH)- Credit Suisse Outperform » Neutral
C.H. Robinson (CHRW)- UBS Buy » Neutral
Amtrust Financial (AFSI)- Keefe Bruyette Outperform » Mkt Perform
Pzena (PZN)- Keefe Bruyette Mkt Perform » Underperform
Royal Philips Electronics (PHG)- JP Morgan Overweight » Neutral
Credit Suisse (CS)- UBS Buy » Neutral
Liberty Media Capital (LCAPA)- Lehman Brothers Overweight » Equal-weight
Gap Inc (GPS)- Citigroup Buy » Hold
Bear Stearns (BSC)- Sandler O’Neill Hold » Sell
Accentia Biopharmaceuticals (ABPI)- Rodman & Renshaw Mkt Outperform » Mkt Perform
Zumiez (ZUMZ)- Oppenheimer Outperform » Perform
Tiffany & Co (TIF)- Oppenheimer Outperform » Perform
