Analyst Upgrades & Downgrades for Wednesday July 26, 2006

The following analyst upgrades/downgrades have been reported as of 9 AM

Upgrades:

	Company/	From/	Jul 25
Ticker	Brokerage	To	Close
(ANIK)	Anika Therapeutics Inc.	Neutral	$10.89
	Nollenberger Capital	Buy
(ASN)	Archstone-Smith Trust	Hold	$51.99
	Deutsche Securities	Buy
(ASTE)	Astec Industries Inc.	Buy	$21.95
	Matrix Research	Strong Buy
(AXE)	Anixter International Inc.	Neutral	$50.75
	Robert W. Baird	Outperform
(BBBY)	Bed Bath & Beyond Inc.	Underweight	$33.43
	JP Morgan	Neutral
(BLS)	BellSouth Corp.	Neutral	$37.72
	Robert W. Baird	Outperform
(BLS)	BellSouth Corp.	Neutral	$37.72
	Banc of America Sec	Buy
(BNK)	TD Banknorth Inc.	Hold	$28.95
	Stifel Nicolaus	Buy
(CIEN)	CIENA Corp.	Reduce	$3.55
	UBS	Neutral
(CYMI)	Cymer Inc.	Neutral	$40.57
	Banc of America Sec	Buy
(DRI)	Darden Restaurants Inc.	Underperform	$34.53
	Jefferies & Co	Hold
(DRIV)	Digital River Inc.	Neutral	$40.34
	Oppenheimer	Buy
(ESV)	Ensco International Inc.	Hold	$43.06
	Stanford Research	Buy
(IFSIA)	Interface Inc.	Hold	$10.73
	Stifel Nicolaus	Buy
(KRC)	Kilroy Realty Corp.	Hold	$73.50
	Deutsche Securities	Buy
(LUV)	Southwest Airlines Co.	Underweight	$17.77
	HSBC Securities	Neutral
(MCO)	Moody's Corp.	Underweight	$53.00
	JP Morgan	Neutral
(MDCO)	Medicines Co.	Reduce	$21.03
	UBS	Neutral
(MERQ)	Mercury Interactive Corp.	Neutral	$39.00
	ICAP	Buy
(NFLX)	Netflix, Inc.	Sell	$18.78
	Roth Capital	Hold
(NXY)	Nexen Inc.	Hold	$55.69
	Matrix Research	Buy
(PHRM)	Pharmion Corp.	Mkt Perform	$16.47
	Friedman Billings	Outperform
(PNSN)	Penson Worldwide Inc	Neutral	$16.11
	JP Morgan	Overweight
(QLGC)	QLogic Corp.	Mkt Perform	$16.60
	Friedman Billings	Outperform
(ROH)	Rohm & Haas Co.	Neutral	$44.92
	Banc of America Sec	Buy
(SII)	Smith International Inc.	Add	$42.76
	Calyon Securities	Buy
(SPM)	Spirent Communications Plc.	Sell	$2.38
	Goldman Sachs	Neutral
(SUNW)	Sun Microsystems Inc.	Peer Perform	$4.09
	Bear Stearns	Outperform
(T)	AT&T Inc.	Neutral	$28.95
	Robert W. Baird	Outperform
(WAT)	Waters Corp.	Peer Perform	$39.57
	Bear Stearns	Outperform

Downgrades:

#VALUE!

	Company/	From/	Jul 25
Ticker	Brokerage	To	Close
(AMLN)	Amylin Pharmaceuticals Inc.	Outperform	$49.72
	Wachovia	Mkt Perform
(AMZN)	Amazon.com Inc.	Market Perform	$33.59
	Piper Jaffray	Underperform
(BLS)	BellSouth Corp.	Hold	$37.72
	Stifel Nicolaus	Sell
(BN)	Banta Corp.	Neutral	$43.76
	Robert W. Baird	Underperform
(BOBJ)	Business Objects SA	Buy	$19.99
	Citigroup	Hold
(CBHI)	Centennial Bank Holdings, Inc.	Outperform	$10.44
	Friedman Billings	Mkt Perform
(CHH)	Choice Hotels International Inc.	Peer Perform	$58.85
	Bear Stearns	Underperform
(CHH)	Choice Hotels International Inc.	Positive	$58.85
	Susquehanna Financial	Neutral
(EEFT)	Euronet Worldwide Inc.	Buy	$33.69
	Citigroup	Hold
(EGLE)	Eagle Bulk Shipping Inc.	Buy	$14.93
	UBS	Neutral
(ENCY)	Encysive Pharmaceuticals Inc.	Buy	$3.69
	Oppenheimer	Neutral
(ENMC)	Encore Medical Corp.	Buy	$6.29
	First Albany	Neutral
(FWRD)	Forward Air Corp.	Outperform	$33.44
	Morgan Keegan	Mkt Perform
(GYI)	Getty Images Inc.	Outperform	$55.20
	Credit Suisse	Neutral
(GYI)	Getty Images Inc.	Buy	$55.20
	Kaufman Bros	Hold
(HES)	Hess Corporation	Buy	$53.32
	Deutsche Securities	Hold
(IMMC)	Immunicon Corp.	Neutral	$5.51
	UBS	Reduce
(LECO)	Lincoln Electric Holdings Inc.	Buy	$58.63
	BB&T Capital Mkts	Hold
(MTCT)	MTC Technologies Inc.	Outperform	$20.20
	Friedman Billings	Mkt Perform
(NNBR)	NN Inc.	Strong Buy	$12.77
	Matrix Research	Buy
(PLT)	Plantronics Inc.	Buy	$19.54
	Kaufman Bros	Hold
(SOLD)	Housevalues Inc.	Outperform	$6.27
	Piper Jaffray	Market Perform
(T)	AT&T Inc.	Hold	$28.95
	Stifel Nicolaus	Sell
(UPS)	United Parcel Service Inc.	Outperform	$71.80
	Robert W. Baird	Neutral
(UPS)	United Parcel Service Inc.	Buy	$71.80
	BB&T Capital Mkts	Hold
(WEYS)	Weyco Group Inc.	Buy	$22.89
	Matrix Research	Hold
(WSM)	Williams-Sonoma Inc.	Buy	$33.25
	Banc of America Sec	Neutral

Coverage Inititated:

	Company/		Jul 25
Ticker	Brokerage	Rating	Close
(GILT)	Gilat Satellite Networks Ltd.	Outperform	$7.60
	Cowen & Co
(GXP)	Great Plains Energy Inc.	Neutral	$29.54
	Credit Suisse
(LTM)	Life Time Fitness Inc.	Buy	$42.79
	Oppenheimer
(MLM)	Martin Marietta Materials Inc.	Buy	$82.53
	Citigroup
(MWE)	MarkWest Energy Partners LP	Overweight	$43.75
	Lehman Brothers
(RNVS)	Renovis Inc.	Sell	$12.14
	Brean Murray
(SNCR)	Synchronoss Technologies, Inc.	Outperform	$6.95
	Thomas Weisel
(VMC)	Vulcan Materials Co.	Buy	$70.57
	Citigroup
(VSE)	Verasun Energy, Corp.	Hold	$23.91
	AG Edwards

Data: Briefing.com, CapitalIQ