Forex Investment

CHANGE IN RATINGS Accenture (ACN) initiated at Morgan Stanley: Morgan Stanley initiates coverage of Accenture with an overweight rating and a $44 price target.

Chicago Merc (CME) upgraded at Prudential: CME was upgraded from Underweight to Neutral at Prudential. $570 price target. Estimates also raised, as volume growth has not slowed down as much as expected.

Diamond Offshore (DO) upgraded at Credit Suisse: Credit Suisse is upgrading DO to Outperform from Neutral based on valuation. Raises target price to $101 from $93.

Investors Financial (IFIN) downgraded at Prudential: IFIN was downgraded from Neutral to Underweight at Prudential. $38 price target. U.S. growth has slowed considerably, while expenses continue to rise.

Intuit (INTU) upgraded at JP Morgan: INTU was upgraded to Overweight at JP Morgan. Expect the company to have a strong tax season, and post solid QuickBooks sales.

Juniper Networks (JNPR) downgraded at Thomas Weisel: Thomas Weisel downgrades Juniper Networks to market weight on increasingly balanced risk/reward equation.

Motorola (MOT) downgraded at Morgan Stanley: Morgan Stanley downgrades Motorola from overweight to equalweight and cuts 2007-08 eps estimates.

Nasdaq (NDAQ) downgraded at Morgan Stanley: Morgan Stanley downgrades Nasdaq Stock Market from overweight to equalweight and lowers its price target from $39 to $36.

Pfizer (PFE) downgraded at Bear: PFE was downgraded from Outperform to Peer Perform at Bear Stearns. Lipitor volumes are decelerating, and there are few big products in the near-term pipeline.

Parexel (PRXL) upgraded at Goldman Sachs: Goldman is upgrading PRXL to Buy from Neutral based on valuation. Believe company can show further fundamental improvement in strong market for clinical services. Target price at $38.

Patni (PTI) upgraded at Goldman Sachs: Goldman is upgrading PTI to Neutral from Sell based on sustained secular demand and growth for offshore services, as well as increased estimates for 20% revenue growth in 2007 and 2008. Believe earnings downside is limited due to higher revenue growth rate. Price target raised to $18.40 from $15.16.

Robert Half (RHI) upgraded at UBS: RHI upgraded to Buy rating from Neutral at UBS. Price target jumps to $53 from $40. 2007 eps estimates rise to $2.00 from $1.92.

Ternium (TX) downgraded at UBS: TX Ternium downgraded to Neutral rating from Buy at UBS. Price target lowered to $26 from $30 on risk from Venezuela.

Texas Instruments (TXN) estimates cut at Goldman: Goldman is lowering its 2007 estimates on TXN to $1.45 from $1.70 after company reported weak Q4 numbers. Company noted broad-based softness, led by wireless (down 10% qoq) as well as weak bookings. Maintained Neutral rating and $26 target.

Texas Instruments (TXN) upgraded at Merrill: TXN was upgraded from Neutral to Buy at Merrill Lynch. $33 price target. Business is finding a bottom, and the recent weakness creates a buying opportunity.

Texas Instruments (TXN) estimates cut at Prudential: Prudential is cutting its 2007 estimates on TXN by 27 cents to $1.86 a share due to low visbilit7 and weak book to bill.

Under Armour (UA) upgraded at Credit Suisse: Credit Suisse is upgrading UA to Outperform from Neutral. Believes company is emerging as one of the premier global athletic brands. Raises target price to $65 from $47.

Unisys (UIS) downgraded at Goldman Sachs: UIS downgraded to Sell from Neutral at Goldman. See poor hardware growth prospects for 2007, evident in recent IBM results. 2008 earnings reduced to $0.20 from $0.38

Urban Outfitters (URBN) upgraded at FBR: FBR upgrades Urban Outfitters to outperform, as it believes business is moving in the right direction. STOCK COMMENTS / EPS CHANGES Allied Capital (ALD) numbers lowered at Jefferies: ALD numbers lowered at Jefferies. Price target drops to $28 from $30. 2007 eps estimates lowered to $1.34 from $1.67. Reiterates Hold rating.

American Express (AXP) estimates lowered at Goldman: Goldman is reducing its 2007 estimates on AXP by 2 cents to $3.39 based on slightly below-expectation Q4 earnings. Billed business growth was strong 16% yoy, and both consumer and corporate spending remained stable. Maintained Neutral rating and $64 target.

Compass Bancshares (CBSS) estimates cut at Credit Suisse: Credit Suisse is lowering its 2007 EPS estimates on CBSS by 10 cents to $3.75 following weaker than expected Q4 results. Maintained Neutral rating.

Coldwater Creek (CWTR) price target slashed at Goldman: Goldman is cutting its target on CWTR to $23 from $30 following management’s 40% lower earnings guidance for Q4. High inventories due to increased direct sourcing are increasing company’s risk profile. 2007 estimates lowered to $0.58 from $0.69. Maintained Neutral rating.

Expedia (EXPE) price target raised at Goldman: Target on EXPE upped to $20 from $18 at Goldman. Company announced finalized results of its cash tender offer, stating that it purchased 30 million shares at $22. Remain concerned over decelerating topline growth and margin contraction trends. Maintained Neutral rating.

MasterCard (MA) target raised at Prudential: Prudential is raising its target price on MA to $130 due to higher long-term growth rate projection. Maintained Overweight rating.

CHANGE IN RATINGS Accenture (ACN) initiated at Morgan Stanley: Morgan Stanley initiates coverage of Accenture with an overweight rating and a $44 price target.

Chicago Merc (CME) upgraded at Prudential: CME was upgraded from Underweight to Neutral at Prudential. $570 price target. Estimates also raised, as volume growth has not slowed down as much as expected.

Diamond Offshore (DO) upgraded at Credit Suisse: Credit Suisse is upgrading DO to Outperform from Neutral based on valuation. Raises target price to $101 from $93.

Investors Financial (IFIN) downgraded at Prudential: IFIN was downgraded from Neutral to Underweight at Prudential. $38 price target. U.S. growth has slowed considerably, while expenses continue to rise.

Intuit (INTU) upgraded at JP Morgan: INTU was upgraded to Overweight at JP Morgan. Expect the company to have a strong tax season, and post solid QuickBooks sales.

Juniper Networks (JNPR) downgraded at Thomas Weisel: Thomas Weisel downgrades Juniper Networks to market weight on increasingly balanced risk/reward equation.

Motorola (MOT) downgraded at Morgan Stanley: Morgan Stanley downgrades Motorola from overweight to equalweight and cuts 2007-08 eps estimates.

Nasdaq (NDAQ) downgraded at Morgan Stanley: Morgan Stanley downgrades Nasdaq Stock Market from overweight to equalweight and lowers its price target from $39 to $36.

Pfizer (PFE) downgraded at Bear: PFE was downgraded from Outperform to Peer Perform at Bear Stearns. Lipitor volumes are decelerating, and there are few big products in the near-term pipeline.

Parexel (PRXL) upgraded at Goldman Sachs: Goldman is upgrading PRXL to Buy from Neutral based on valuation. Believe company can show further fundamental improvement in strong market for clinical services. Target price at $38.

Patni (PTI) upgraded at Goldman Sachs: Goldman is upgrading PTI to Neutral from Sell based on sustained secular demand and growth for offshore services, as well as increased estimates for 20% revenue growth in 2007 and 2008. Believe earnings downside is limited due to higher revenue growth rate. Price target raised to $18.40 from $15.16.

Robert Half (RHI) upgraded at UBS: RHI upgraded to Buy rating from Neutral at UBS. Price target jumps to $53 from $40. 2007 eps estimates rise to $2.00 from $1.92.

Ternium (TX) downgraded at UBS: TX Ternium downgraded to Neutral rating from Buy at UBS. Price target lowered to $26 from $30 on risk from Venezuela.

Texas Instruments (TXN) estimates cut at Goldman: Goldman is lowering its 2007 estimates on TXN to $1.45 from $1.70 after company reported weak Q4 numbers. Company noted broad-based softness, led by wireless (down 10% qoq) as well as weak bookings. Maintained Neutral rating and $26 target.

Texas Instruments (TXN) upgraded at Merrill: TXN was upgraded from Neutral to Buy at Merrill Lynch. $33 price target. Business is finding a bottom, and the recent weakness creates a buying opportunity.

Texas Instruments (TXN) estimates cut at Prudential: Prudential is cutting its 2007 estimates on TXN by 27 cents to $1.86 a share due to low visbilit7 and weak book to bill.

Under Armour (UA) upgraded at Credit Suisse: Credit Suisse is upgrading UA to Outperform from Neutral. Believes company is emerging as one of the premier global athletic brands. Raises target price to $65 from $47.

Unisys (UIS) downgraded at Goldman Sachs: UIS downgraded to Sell from Neutral at Goldman. See poor hardware growth prospects for 2007, evident in recent IBM results. 2008 earnings reduced to $0.20 from $0.38

Urban Outfitters (URBN) upgraded at FBR: FBR upgrades Urban Outfitters to outperform, as it believes business is moving in the right direction. STOCK COMMENTS / EPS CHANGES Allied Capital (ALD) numbers lowered at Jefferies: ALD numbers lowered at Jefferies. Price target drops to $28 from $30. 2007 eps estimates lowered to $1.34 from $1.67. Reiterates Hold rating.

American Express (AXP) estimates lowered at Goldman: Goldman is reducing its 2007 estimates on AXP by 2 cents to $3.39 based on slightly below-expectation Q4 earnings. Billed business growth was strong 16% yoy, and both consumer and corporate spending remained stable. Maintained Neutral rating and $64 target.

Compass Bancshares (CBSS) estimates cut at Credit Suisse: Credit Suisse is lowering its 2007 EPS estimates on CBSS by 10 cents to $3.75 following weaker than expected Q4 results. Maintained Neutral rating.

Coldwater Creek (CWTR) price target slashed at Goldman: Goldman is cutting its target on CWTR to $23 from $30 following management’s 40% lower earnings guidance for Q4. High inventories due to increased direct sourcing are increasing company’s risk profile. 2007 estimates lowered to $0.58 from $0.69. Maintained Neutral rating.

Expedia (EXPE) price target raised at Goldman: Target on EXPE upped to $20 from $18 at Goldman. Company announced finalized results of its cash tender offer, stating that it purchased 30 million shares at $22. Remain concerned over decelerating topline growth and margin contraction trends. Maintained Neutral rating.

MasterCard (MA) target raised at Prudential: Prudential is raising its target price on MA to $130 due to higher long-term growth rate projection. Maintained Overweight rating.

CHANGE IN RATINGS Accenture (ACN) initiated at Morgan Stanley: Morgan Stanley initiates coverage of Accenture with an overweight rating and a $44 price target.

Chicago Merc (CME) upgraded at Prudential: CME was upgraded from Underweight to Neutral at Prudential. $570 price target. Estimates also raised, as volume growth has not slowed down as much as expected.

Diamond Offshore (DO) upgraded at Credit Suisse: Credit Suisse is upgrading DO to Outperform from Neutral based on valuation. Raises target price to $101 from $93.

Investors Financial (IFIN) downgraded at Prudential: IFIN was downgraded from Neutral to Underweight at Prudential. $38 price target. U.S. growth has slowed considerably, while expenses continue to rise.

Intuit (INTU) upgraded at JP Morgan: INTU was upgraded to Overweight at JP Morgan. Expect the company to have a strong tax season, and post solid QuickBooks sales.

Juniper Networks (JNPR) downgraded at Thomas Weisel: Thomas Weisel downgrades Juniper Networks to market weight on increasingly balanced risk/reward equation.

Motorola (MOT) downgraded at Morgan Stanley: Morgan Stanley downgrades Motorola from overweight to equalweight and cuts 2007-08 eps estimates.

Nasdaq (NDAQ) downgraded at Morgan Stanley: Morgan Stanley downgrades Nasdaq Stock Market from overweight to equalweight and lowers its price target from $39 to $36.

Pfizer (PFE) downgraded at Bear: PFE was downgraded from Outperform to Peer Perform at Bear Stearns. Lipitor volumes are decelerating, and there are few big products in the near-term pipeline.

Parexel (PRXL) upgraded at Goldman Sachs: Goldman is upgrading PRXL to Buy from Neutral based on valuation. Believe company can show further fundamental improvement in strong market for clinical services. Target price at $38.

Patni (PTI) upgraded at Goldman Sachs: Goldman is upgrading PTI to Neutral from Sell based on sustained secular demand and growth for offshore services, as well as increased estimates for 20% revenue growth in 2007 and 2008. Believe earnings downside is limited due to higher revenue growth rate. Price target raised to $18.40 from $15.16.

Robert Half (RHI) upgraded at UBS: RHI upgraded to Buy rating from Neutral at UBS. Price target jumps to $53 from $40. 2007 eps estimates rise to $2.00 from $1.92.

Ternium (TX) downgraded at UBS: TX Ternium downgraded to Neutral rating from Buy at UBS. Price target lowered to $26 from $30 on risk from Venezuela.

Texas Instruments (TXN) estimates cut at Goldman: Goldman is lowering its 2007 estimates on TXN to $1.45 from $1.70 after company reported weak Q4 numbers. Company noted broad-based softness, led by wireless (down 10% qoq) as well as weak bookings. Maintained Neutral rating and $26 target.

Texas Instruments (TXN) upgraded at Merrill: TXN was upgraded from Neutral to Buy at Merrill Lynch. $33 price target. Business is finding a bottom, and the recent weakness creates a buying opportunity.

Texas Instruments (TXN) estimates cut at Prudential: Prudential is cutting its 2007 estimates on TXN by 27 cents to $1.86 a share due to low visbilit7 and weak book to bill.

Under Armour (UA) upgraded at Credit Suisse: Credit Suisse is upgrading UA to Outperform from Neutral. Believes company is emerging as one of the premier global athletic brands. Raises target price to $65 from $47.

Unisys (UIS) downgraded at Goldman Sachs: UIS downgraded to Sell from Neutral at Goldman. See poor hardware growth prospects for 2007, evident in recent IBM results. 2008 earnings reduced to $0.20 from $0.38

Urban Outfitters (URBN) upgraded at FBR: FBR upgrades Urban Outfitters to outperform, as it believes business is moving in the right direction. STOCK COMMENTS / EPS CHANGES Allied Capital (ALD) numbers lowered at Jefferies: ALD numbers lowered at Jefferies. Price target drops to $28 from $30. 2007 eps estimates lowered to $1.34 from $1.67. Reiterates Hold rating.

American Express (AXP) estimates lowered at Goldman: Goldman is reducing its 2007 estimates on AXP by 2 cents to $3.39 based on slightly below-expectation Q4 earnings. Billed business growth was strong 16% yoy, and both consumer and corporate spending remained stable. Maintained Neutral rating and $64 target.

Compass Bancshares (CBSS) estimates cut at Credit Suisse: Credit Suisse is lowering its 2007 EPS estimates on CBSS by 10 cents to $3.75 following weaker than expected Q4 results. Maintained Neutral rating.

Coldwater Creek (CWTR) price target slashed at Goldman: Goldman is cutting its target on CWTR to $23 from $30 following management’s 40% lower earnings guidance for Q4. High inventories due to increased direct sourcing are increasing company’s risk profile. 2007 estimates lowered to $0.58 from $0.69. Maintained Neutral rating.

Expedia (EXPE) price target raised at Goldman: Target on EXPE upped to $20 from $18 at Goldman. Company announced finalized results of its cash tender offer, stating that it purchased 30 million shares at $22. Remain concerned over decelerating topline growth and margin contraction trends. Maintained Neutral rating.

MasterCard (MA) target raised at Prudential: Prudential is raising its target price on MA to $130 due to higher long-term growth rate projection. Maintained Overweight rating.

CHANGE IN RATINGS Accenture (ACN) initiated at Morgan Stanley: Morgan Stanley initiates coverage of Accenture with an overweight rating and a $44 price target.

Chicago Merc (CME) upgraded at Prudential: CME was upgraded from Underweight to Neutral at Prudential. $570 price target. Estimates also raised, as volume growth has not slowed down as much as expected.

Diamond Offshore (DO) upgraded at Credit Suisse: Credit Suisse is upgrading DO to Outperform from Neutral based on valuation. Raises target price to $101 from $93.

Investors Financial (IFIN) downgraded at Prudential: IFIN was downgraded from Neutral to Underweight at Prudential. $38 price target. U.S. growth has slowed considerably, while expenses continue to rise.

Intuit (INTU) upgraded at JP Morgan: INTU was upgraded to Overweight at JP Morgan. Expect the company to have a strong tax season, and post solid QuickBooks sales.

Juniper Networks (JNPR) downgraded at Thomas Weisel: Thomas Weisel downgrades Juniper Networks to market weight on increasingly balanced risk/reward equation.

Motorola (MOT) downgraded at Morgan Stanley: Morgan Stanley downgrades Motorola from overweight to equalweight and cuts 2007-08 eps estimates.

Nasdaq (NDAQ) downgraded at Morgan Stanley: Morgan Stanley downgrades Nasdaq Stock Market from overweight to equalweight and lowers its price target from $39 to $36.

Pfizer (PFE) downgraded at Bear: PFE was downgraded from Outperform to Peer Perform at Bear Stearns. Lipitor volumes are decelerating, and there are few big products in the near-term pipeline.

Parexel (PRXL) upgraded at Goldman Sachs: Goldman is upgrading PRXL to Buy from Neutral based on valuation. Believe company can show further fundamental improvement in strong market for clinical services. Target price at $38.

Patni (PTI) upgraded at Goldman Sachs: Goldman is upgrading PTI to Neutral from Sell based on sustained secular demand and growth for offshore services, as well as increased estimates for 20% revenue growth in 2007 and 2008. Believe earnings downside is limited due to higher revenue growth rate. Price target raised to $18.40 from $15.16.

Robert Half (RHI) upgraded at UBS: RHI upgraded to Buy rating from Neutral at UBS. Price target jumps to $53 from $40. 2007 eps estimates rise to $2.00 from $1.92.

Ternium (TX) downgraded at UBS: TX Ternium downgraded to Neutral rating from Buy at UBS. Price target lowered to $26 from $30 on risk from Venezuela.

Texas Instruments (TXN) estimates cut at Goldman: Goldman is lowering its 2007 estimates on TXN to $1.45 from $1.70 after company reported weak Q4 numbers. Company noted broad-based softness, led by wireless (down 10% qoq) as well as weak bookings. Maintained Neutral rating and $26 target.

Texas Instruments (TXN) upgraded at Merrill: TXN was upgraded from Neutral to Buy at Merrill Lynch. $33 price target. Business is finding a bottom, and the recent weakness creates a buying opportunity.

Texas Instruments (TXN) estimates cut at Prudential: Prudential is cutting its 2007 estimates on TXN by 27 cents to $1.86 a share due to low visbilit7 and weak book to bill.

Under Armour (UA) upgraded at Credit Suisse: Credit Suisse is upgrading UA to Outperform from Neutral. Believes company is emerging as one of the premier global athletic brands. Raises target price to $65 from $47.

Unisys (UIS) downgraded at Goldman Sachs: UIS downgraded to Sell from Neutral at Goldman. See poor hardware growth prospects for 2007, evident in recent IBM results. 2008 earnings reduced to $0.20 from $0.38

Urban Outfitters (URBN) upgraded at FBR: FBR upgrades Urban Outfitters to outperform, as it believes business is moving in the right direction. STOCK COMMENTS / EPS CHANGES Allied Capital (ALD) numbers lowered at Jefferies: ALD numbers lowered at Jefferies. Price target drops to $28 from $30. 2007 eps estimates lowered to $1.34 from $1.67. Reiterates Hold rating.

American Express (AXP) estimates lowered at Goldman: Goldman is reducing its 2007 estimates on AXP by 2 cents to $3.39 based on slightly below-expectation Q4 earnings. Billed business growth was strong 16% yoy, and both consumer and corporate spending remained stable. Maintained Neutral rating and $64 target.

Compass Bancshares (CBSS) estimates cut at Credit Suisse: Credit Suisse is lowering its 2007 EPS estimates on CBSS by 10 cents to $3.75 following weaker than expected Q4 results. Maintained Neutral rating.

Coldwater Creek (CWTR) price target slashed at Goldman: Goldman is cutting its target on CWTR to $23 from $30 following management’s 40% lower earnings guidance for Q4. High inventories due to increased direct sourcing are increasing company’s risk profile. 2007 estimates lowered to $0.58 from $0.69. Maintained Neutral rating.

Expedia (EXPE) price target raised at Goldman: Target on EXPE upped to $20 from $18 at Goldman. Company announced finalized results of its cash tender offer, stating that it purchased 30 million shares at $22. Remain concerned over decelerating topline growth and margin contraction trends. Maintained Neutral rating.

MasterCard (MA) target raised at Prudential: Prudential is raising its target price on MA to $130 due to higher long-term growth rate projection. Maintained Overweight rating.

CHANGE IN RATINGS Accenture (ACN) initiated at Morgan Stanley: Morgan Stanley initiates coverage of Accenture with an overweight rating and a $44 price target.

Chicago Merc (CME) upgraded at Prudential: CME was upgraded from Underweight to Neutral at Prudential. $570 price target. Estimates also raised, as volume growth has not slowed down as much as expected.

Diamond Offshore (DO) upgraded at Credit Suisse: Credit Suisse is upgrading DO to Outperform from Neutral based on valuation. Raises target price to $101 from $93.

Investors Financial (IFIN) downgraded at Prudential: IFIN was downgraded from Neutral to Underweight at Prudential. $38 price target. U.S. growth has slowed considerably, while expenses continue to rise.

Intuit (INTU) upgraded at JP Morgan: INTU was upgraded to Overweight at JP Morgan. Expect the company to have a strong tax season, and post solid QuickBooks sales.

Juniper Networks (JNPR) downgraded at Thomas Weisel: Thomas Weisel downgrades Juniper Networks to market weight on increasingly balanced risk/reward equation.

Motorola (MOT) downgraded at Morgan Stanley: Morgan Stanley downgrades Motorola from overweight to equalweight and cuts 2007-08 eps estimates.

Nasdaq (NDAQ) downgraded at Morgan Stanley: Morgan Stanley downgrades Nasdaq Stock Market from overweight to equalweight and lowers its price target from $39 to $36.

Pfizer (PFE) downgraded at Bear: PFE was downgraded from Outperform to Peer Perform at Bear Stearns. Lipitor volumes are decelerating, and there are few big products in the near-term pipeline.

Parexel (PRXL) upgraded at Goldman Sachs: Goldman is upgrading PRXL to Buy from Neutral based on valuation. Believe company can show further fundamental improvement in strong market for clinical services. Target price at $38.

Patni (PTI) upgraded at Goldman Sachs: Goldman is upgrading PTI to Neutral from Sell based on sustained secular demand and growth for offshore services, as well as increased estimates for 20% revenue growth in 2007 and 2008. Believe earnings downside is limited due to higher revenue growth rate. Price target raised to $18.40 from $15.16.

Robert Half (RHI) upgraded at UBS: RHI upgraded to Buy rating from Neutral at UBS. Price target jumps to $53 from $40. 2007 eps estimates rise to $2.00 from $1.92.

Ternium (TX) downgraded at UBS: TX Ternium downgraded to Neutral rating from Buy at UBS. Price target lowered to $26 from $30 on risk from Venezuela.

Texas Instruments (TXN) estimates cut at Goldman: Goldman is lowering its 2007 estimates on TXN to $1.45 from $1.70 after company reported weak Q4 numbers. Company noted broad-based softness, led by wireless (down 10% qoq) as well as weak bookings. Maintained Neutral rating and $26 target.

Texas Instruments (TXN) upgraded at Merrill: TXN was upgraded from Neutral to Buy at Merrill Lynch. $33 price target. Business is finding a bottom, and the recent weakness creates a buying opportunity.

Texas Instruments (TXN) estimates cut at Prudential: Prudential is cutting its 2007 estimates on TXN by 27 cents to $1.86 a share due to low visbilit7 and weak book to bill.

Under Armour (UA) upgraded at Credit Suisse: Credit Suisse is upgrading UA to Outperform from Neutral. Believes company is emerging as one of the premier global athletic brands. Raises target price to $65 from $47.

Unisys (UIS) downgraded at Goldman Sachs: UIS downgraded to Sell from Neutral at Goldman. See poor hardware growth prospects for 2007, evident in recent IBM results. 2008 earnings reduced to $0.20 from $0.38

Urban Outfitters (URBN) upgraded at FBR: FBR upgrades Urban Outfitters to outperform, as it believes business is moving in the right direction. STOCK COMMENTS / EPS CHANGES Allied Capital (ALD) numbers lowered at Jefferies: ALD numbers lowered at Jefferies. Price target drops to $28 from $30. 2007 eps estimates lowered to $1.34 from $1.67. Reiterates Hold rating.

American Express (AXP) estimates lowered at Goldman: Goldman is reducing its 2007 estimates on AXP by 2 cents to $3.39 based on slightly below-expectation Q4 earnings. Billed business growth was strong 16% yoy, and both consumer and corporate spending remained stable. Maintained Neutral rating and $64 target.

Compass Bancshares (CBSS) estimates cut at Credit Suisse: Credit Suisse is lowering its 2007 EPS estimates on CBSS by 10 cents to $3.75 following weaker than expected Q4 results. Maintained Neutral rating.

Coldwater Creek (CWTR) price target slashed at Goldman: Goldman is cutting its target on CWTR to $23 from $30 following management’s 40% lower earnings guidance for Q4. High inventories due to increased direct sourcing are increasing company’s risk profile. 2007 estimates lowered to $0.58 from $0.69. Maintained Neutral rating.

Expedia (EXPE) price target raised at Goldman: Target on EXPE upped to $20 from $18 at Goldman. Company announced finalized results of its cash tender offer, stating that it purchased 30 million shares at $22. Remain concerned over decelerating topline growth and margin contraction trends. Maintained Neutral rating.

MasterCard (MA) target raised at Prudential: Prudential is raising its target price on MA to $130 due to higher long-term growth rate projection. Maintained Overweight rating.

CHANGE IN RATINGS Accenture (ACN) initiated at Morgan Stanley: Morgan Stanley initiates coverage of Accenture with an overweight rating and a $44 price target.

Chicago Merc (CME) upgraded at Prudential: CME was upgraded from Underweight to Neutral at Prudential. $570 price target. Estimates also raised, as volume growth has not slowed down as much as expected.

Diamond Offshore (DO) upgraded at Credit Suisse: Credit Suisse is upgrading DO to Outperform from Neutral based on valuation. Raises target price to $101 from $93.

Investors Financial (IFIN) downgraded at Prudential: IFIN was downgraded from Neutral to Underweight at Prudential. $38 price target. U.S. growth has slowed considerably, while expenses continue to rise.

Intuit (INTU) upgraded at JP Morgan: INTU was upgraded to Overweight at JP Morgan. Expect the company to have a strong tax season, and post solid QuickBooks sales.

Juniper Networks (JNPR) downgraded at Thomas Weisel: Thomas Weisel downgrades Juniper Networks to market weight on increasingly balanced risk/reward equation.

Motorola (MOT) downgraded at Morgan Stanley: Morgan Stanley downgrades Motorola from overweight to equalweight and cuts 2007-08 eps estimates.

Nasdaq (NDAQ) downgraded at Morgan Stanley: Morgan Stanley downgrades Nasdaq Stock Market from overweight to equalweight and lowers its price target from $39 to $36.

Pfizer (PFE) downgraded at Bear: PFE was downgraded from Outperform to Peer Perform at Bear Stearns. Lipitor volumes are decelerating, and there are few big products in the near-term pipeline.

Parexel (PRXL) upgraded at Goldman Sachs: Goldman is upgrading PRXL to Buy from Neutral based on valuation. Believe company can show further fundamental improvement in strong market for clinical services. Target price at $38.

Patni (PTI) upgraded at Goldman Sachs: Goldman is upgrading PTI to Neutral from Sell based on sustained secular demand and growth for offshore services, as well as increased estimates for 20% revenue growth in 2007 and 2008. Believe earnings downside is limited due to higher revenue growth rate. Price target raised to $18.40 from $15.16.

Robert Half (RHI) upgraded at UBS: RHI upgraded to Buy rating from Neutral at UBS. Price target jumps to $53 from $40. 2007 eps estimates rise to $2.00 from $1.92.

Ternium (TX) downgraded at UBS: TX Ternium downgraded to Neutral rating from Buy at UBS. Price target lowered to $26 from $30 on risk from Venezuela.

Texas Instruments (TXN) estimates cut at Goldman: Goldman is lowering its 2007 estimates on TXN to $1.45 from $1.70 after company reported weak Q4 numbers. Company noted broad-based softness, led by wireless (down 10% qoq) as well as weak bookings. Maintained Neutral rating and $26 target.

Texas Instruments (TXN) upgraded at Merrill: TXN was upgraded from Neutral to Buy at Merrill Lynch. $33 price target. Business is finding a bottom, and the recent weakness creates a buying opportunity.

Texas Instruments (TXN) estimates cut at Prudential: Prudential is cutting its 2007 estimates on TXN by 27 cents to $1.86 a share due to low visbilit7 and weak book to bill.

Under Armour (UA) upgraded at Credit Suisse: Credit Suisse is upgrading UA to Outperform from Neutral. Believes company is emerging as one of the premier global athletic brands. Raises target price to $65 from $47.

Unisys (UIS) downgraded at Goldman Sachs: UIS downgraded to Sell from Neutral at Goldman. See poor hardware growth prospects for 2007, evident in recent IBM results. 2008 earnings reduced to $0.20 from $0.38

Urban Outfitters (URBN) upgraded at FBR: FBR upgrades Urban Outfitters to outperform, as it believes business is moving in the right direction. STOCK COMMENTS / EPS CHANGES Allied Capital (ALD) numbers lowered at Jefferies: ALD numbers lowered at Jefferies. Price target drops to $28 from $30. 2007 eps estimates lowered to $1.34 from $1.67. Reiterates Hold rating.

American Express (AXP) estimates lowered at Goldman: Goldman is reducing its 2007 estimates on AXP by 2 cents to $3.39 based on slightly below-expectation Q4 earnings. Billed business growth was strong 16% yoy, and both consumer and corporate spending remained stable. Maintained Neutral rating and $64 target.

Compass Bancshares (CBSS) estimates cut at Credit Suisse: Credit Suisse is lowering its 2007 EPS estimates on CBSS by 10 cents to $3.75 following weaker than expected Q4 results. Maintained Neutral rating.

Coldwater Creek (CWTR) price target slashed at Goldman: Goldman is cutting its target on CWTR to $23 from $30 following management’s 40% lower earnings guidance for Q4. High inventories due to increased direct sourcing are increasing company’s risk profile. 2007 estimates lowered to $0.58 from $0.69. Maintained Neutral rating.

Expedia (EXPE) price target raised at Goldman: Target on EXPE upped to $20 from $18 at Goldman. Company announced finalized results of its cash tender offer, stating that it purchased 30 million shares at $22. Remain concerned over decelerating topline growth and margin contraction trends. Maintained Neutral rating.

MasterCard (MA) target raised at Prudential: Prudential is raising its target price on MA to $130 due to higher long-term growth rate projection. Maintained Overweight rating.