Pre-Market Analyst Upgrades & Downgrades (ADSK, CVA, SFD, MMM, ATU, BLK, CBEY, ITW, RFMD, ROP, UPS)

These are some of the top pre-market analyst upgrades and downgrades we are seeing this Tuesday morning:

• AutoDesk (ADSK) Started as Buy at KeyBanc.
• Covanta (CVA) Started as Buy at Jefferies.
• Smithfield Foods (SFD) Raised to Buy at Deutsche Bank.
• 3M (MMM) Cut to Underweight at Barclays.
• Actuant (ATU) Cut to Neutral at Baird.
• BlackRock (BLK) Cut to Market Perform at Wachovia.
• Cbeyond (CBEY) Cut to Underperform at Jefferies.
• Illinois Tool Works (ITW) Cut to Underweight at Barclays.
• RF Micro Devices (RFMD) Cut to Neutral at UBS.
• Roper (ROP) Cut to Hold at Citigroup.
• UPS (UPS) Cut to Neutral at JPMorgan.

Jon C. Ogg
December 9, 2008

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