Upgrades
Inter Parfums (IPAR)- Caris & Company Above Average » Buy
Schnitzer Steel (SCHN)- Longbow Neutral » Buy
Genesis Energy, L.P. (GEL)- Morgan Keegan Mkt Perform » Outperform
UPS (UPS)- Stifel Nicolaus Hold » Buy
United Dominion (UDR)- Stifel Nicolaus Hold » Buy
Equity Res (EQR)- Stifel Nicolaus Hold » Buy
UnionBanCal (UB)- BMO Capital Markets Underperform » Market Perform
Bankrate (RATE)- RBC Capital Mkts Sector Perform » Outperform
Medivation (MDVN)- Rodman & Renshaw Mkt Perform » Mkt Outperform
ACE Limited (ACE)- Wachovia Mkt Perform » Outperform
NCR Corp (NCR)- Robert W. Baird Neutral » Outperform
Fulton Fincl (FULT)- Keefe Bruyette Underperform » Mkt Perform
Valley National (VLY)- Keefe Bruyette Underperform » Mkt Perform
WD-40 Company (WDFC)- JP Morgan Underweight » Neutral
Capital Trust (CT)- UBS Sell » Neutral
Marsh McLennan (MMC)- Citigroup Hold » Buy
ACADIA Pharmaceuticals (ACAD)- Banc of America Sec Sell » Neutral
Downgrades
Children’s Place (PLCE)- Sterne Agee Buy » Hold
Wyeth (WYE)- Caris & Company Above Average » Average
Bankrate (RATE)- Sun Trust Rbsn Humphrey Buy » Neutral
Kimco Realty (KIM)- Credit Suisse Outperform » Neutral
Tween Brands (TWB)- Friedman Billings Outperform » Mkt Perform
Gymboree (GYMB)- Friedman Billings Outperform » Mkt Perform
Asset Acceptance Capital (AACC)- Jefferies & Co Hold » Underperform
Skyepharma plc (SKYE)- Jefferies & Co Hold » Underperform
Synovus (SNV)- Morgan Keegan Outperform » Mkt Perform
Tronox (TRX)- Lehman Brothers Equal-Weight » Underweight
Teva Pharm (TEVA)- Deutsche Securities Buy » Hold $55 » $47
Downey Fincl (DSL)- Lehman Brothers Overweight » Equal-Weight
Omnicom (OMC)- Bernstein Outperform » Mkt Perform
Willis Group (WSH)- Citigroup Buy » Hold
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