Thursday's Upgrades and Downgrades

UPGRADES

Microchip MCHP Lehman Brothers Underweight » Equal-weight
Volvo AB VOLV JP Morgan Underweight » Neutral
Royal Caribbean RCL Lehman Brothers Equal-weight » Overweight
Carnival CCL Lehman Brothers Equal-weight » Overweight
Audiocodes AUDC Lehman Brothers Equal-weight » Overweight
MGI Pharma MOGN JP Morgan Neutral » Overweight
Tesoro Petroleum TSO Bernstein Mkt Perform » Outperform
Everest Re RE Banc of America Sec Neutral » Buy
PartnerRe PRE Banc of America Sec Neutral » BuY

DOWNGRADES

Omniture OMTR Pacific Growth Equities Buy » Neutral
NovaTel NGPS Canaccord Adams Buy » Hold
Arch Chemicals ARJ Wedbush Morgan Strong Buy » Hold
Omnicell OMCL BB&T Capital Mkts Buy » Hold
Capella Education CPLA Stifel Nicolaus Buy » Hold
Cambridge Heart, Inc. CAMH Boenning & Scattergood Market Outperform » Market Perform
Aurora Oil & Gas AOG KeyBanc Capital Mkts Buy » Hold
Qwest Q UBS Buy » Neutral
Thornburg Mortg TMA Keefe Bruyette Mkt Perform » Underperform
Novellus NVLS Lehman Brothers Equal-weight » Underweight
LTX Corp LTXX Lehman Brothers Overweight » Equal-weight
KLA-Tencor KLAC Lehman Brothers Overweight » Equal-weight
NRG Energy NRG Calyon Securities Buy » Neutral
Oxford Industries OXM Morgan Joseph Buy » Hold
Applied Materials AMAT Lehman Brothers Overweight » Equal-weight
Genworth Financial GNW Banc of America Sec Buy » Neutral
BEA Systems BEAS Banc of America Sec Buy » Neutral
Microchip MCHP Banc of America Sec Buy » Neutral
General Maritime GMR Bear Stearns Outperform » Peer Perform
Alnylam Pharmaceuticals ALNY Piper Jaffray Outperform » Market Perform
Tuesday Morning TUES JP Morgan Overweight » Neutral
Target TGT Piper Jaffray Outperform » Market Perform
Endurance Specialty ENH Credit Suisse Outperform » Neutral
Aspen Insurance AHL Credit Suisse Outperform » Neutral
Western Union WU Sun Trust Rbsn Humphrey Buy » Neutral
Dynamic Materials BOOM Jefferies & Co Buy » Hold
AMEDISYS AMED Deutsche Securities Buy » Hold
Jones Lang LaSalle JLL Wachovia Outperform » Mkt Perform