Top Analyst Upgrades & Downgrades (BIIB, COWN, MYL, PRX, SMBL, TEVA, CBY, CCL, DLB, JCP, JEF, PRSP)

Below are some of the top analyst calls we are seeing from Wall Street firms this Thursday morning:

• Biogen Idec (BIIB) Raised to Buy at Lazard.
• Cowen (COWN) Raised to Outperform at KBW.
• Mylan Labs (MYL) Started as Strong Buy at Needham.
• Par Pharmaceuticals (PRX) Started as Strong Buy at Needham.
• Smart Balance (SMBL) Started as Buy at Lazrd.
• Teva Pharma (TEVA) Started as Strong Buy at Needham.
• Cadbury Schwepps (CBY) Cut to Sell at Citigroup.
• Carnival (CCL) Cut to Sell at Deutsche Bank.
• Dolby Labs (DLB) Cut to Hold at Deutsche Bank.
• JCPenney (JCP) Cut to Underperform at Merrill Lynch.
• Jefferies (JEF) Cut to Underperform at KBW.
• Prosperity Bancshares (PRSP) Cut to Market Perform at KBW.

Jon C. Ogg
September 25, 2008