Filed under: Analyst upgrades and downgrades, Analyst initiations

MOST NOTEWORTHY UPGRADES:

• Tortoise Capital (NYSE: TTO) was upgraded to Buy from Neutral at Merrill Lynch.
• Brean Murray upgraded shares of California Water Service (NYSE: CWT) and SJW Corp. (NYSE: SJW) to Buy from Hold on valuation following the recent weakness.

MOST NOTEWORTHY DOWNGRADES:

• Broadpoint downgraded shares of Cache Inc. (NYSE: CACH) to Neutral from Buy and lowered their estimates after the company reduced its Q4 guidance. The broker also removed its $21 target.
• Piper downgraded shares of Salix Pharmaceuticals (NASDAQ: SLXP) to Sell from Neutral to reflect concerns over the company’s IBD franchise and potential Xifaxan patent concerns.

MOST NOTEWORTHY INITIATIONS:

• Pacific Crest initiated shares of SuccessFactors (NASDAQ: SFSF) with an Outperform rating and $18 target, and believes the company has better visibility than its On-Demand peers with 2.5 year deals.

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This entry was posted on Monday, December 31st, 2007 at 6:16 pm and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.