Upgrades
CB&I (CBI)- Stanford Research Sell » Hold
Steven Madden (SHOO)- Wedbush Morgan Hold » Buy
EOG Resources (EOG)- RBC Capital Mkts Underperform » Sector Perform
Starwood Hotels (HOT)- Wachovia Mkt Perform » Outperform
PF Chang’s (PFCB)- Piper Jaffray Neutral » Buy
ACE Limited (ACE)- Citigroup Hold » Buy
Marshall & Ilsley (MI)- Keefe Bruyette Underperform » Mkt Perform
Microchip (MCHP)- UBS Neutral » Buy
Colnl BancGrp (CNB)- JP Morgan Neutral » Overweight
Linear Tech (LLTC)- UBS Neutral » Buy
Blackboard (BBBB)- Robert W. Baird Neutral » Outperform
Downgrades
Jamba (JMBA)- Piper Jaffray Buy » Neutral
ProLogis (PLD)- JP Morgan Overweight » Neutral
St. Joe Company (JOE)- Wachovia Mkt Perform » Underperform
Host Hotels (HST)- Stifel Nicolaus Buy » Hold
eBay (EBAY)- AmTech Research Neutral » Sell
InterVoice (INTV)- Wedbush Morgan Strong Buy » Hold
Polycom (PLCM)- Wedbush Morgan Buy » Hold
Omnicom (OMC)- Citigroup Buy » Hold
Albany Molecular (AMRI)- Jefferies & Co Buy » Hold
InterVoice (INTV)- Brean Murray Buy » Hold
Host Hotels (HST)- Susquehanna Financial Positive » Neutral
Diamondrock Hospitality (DRH)- Wachovia Outperform » Mkt Perform
FelCor Lodging (FCH)- Wachovia Outperform » Mkt Perform
Host Hotels (HST)- Wachovia Outperform » Mkt Perform
Ashford Hospitality Trust (AHT)- Wachovia Mkt Perform » Underperform
Strategic Hotels & Resorts (BEE)- Wachovia Mkt Perform » Underperform
Starbucks (SBUX)- Piper Jaffray Buy » Neutral
Wells Fargo (WFC)- UBS Buy » Neutral
AMB Property (AMB)- JP Morgan Overweight » Neutral
Georgia Gulf (GGC)- Lehman Brothers Equal-Weight » Underweight
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