Early Bird Analyst Upgrades & Downgrades (CHA, CHH, CMCSA, GOOG, ID, PAS, ACF, ERIC, NCC, NWS, NOK, PCTI, RAH, SHW)

These are some of the top pre-market analyst upgrades and downgrades we are seeing from Wall Street firms this Tuesday morning with more than two hours to the open:

• China Telecom (CHA) Raised to Buy at UBS.
• Choice Hotels (CHH) Raised To Neutral From Underweight at JPMorgan.
• Comcast (CMCSA) Started as Outperform at Credit Suisse.
• Google (GOOG) Started as Outperform at Credit Suisse.
• L-1 Identity Solutions (ID) Raised to Neutral from Underweight at JPMorgan.
• PepsiAmericas (PAS) Raised to Buy at UBS.

• AmeriCredit (ACF) Cut to Underperform at KBW.
• Ericsson (ERIC) Cut to Sell at Goldman Sachs.
• National City (NCC) Cut to Market Perform at KBW.
• News Corp. (NWS) Cut to Neutral at Credit Suisse.
• Nokia (NOK) Cut to Sell at Goldman Sachs.
• PC-Tel (PCTI) Cut to Neutral at Baird.
• Ralcorp Holdings (RAH) Cut to Neutral at Credit Suisse.
• Sherwin-Williams (SHW) Cut to Neutral at JPMorgan.

Jon C. Ogg
October 28, 2008