Analyst Upgrades

• Siemens (SI) to buy from hold at Deutsche Bank.
• Diamond Offshore (DO) to market perform from underperform at FBR Capital.
• MeadWestvaco (MWV) to conviction buy from neutral at Goldman.
• TD AmeriTrade (AMTD) and Cabot Oil & Gas (COG) to buy from neutral at BofA/Merrill.
• Janus Capital (JNS) to hold from sell at Citigroup.
• Motorola Mobility (MMI) to buy from neutral at UBS.
• Frontier Communications (FTR) to neutral from underperform at Macquarie.
• Humana (HUM) to buy from hold at Argus.

MOST NOTEWORTHY: US Airways (LCC), Cigna Corp (CI), Gentex Corp (GNTX) and China Life Insurance (LFC) were today's more noteworthy upgrades:

• UBS upgraded US Airways (NYSE: LCC) to Neutral from Reduce based on valuation.

• Cigna Corp (NYSE: CI) was upgraded to Neutral from Sell at Banc of America to reflect the company's market share gains and share buybacks.

• Banc of America also raised Gentex Corp (NASDAQ: GNTX) to Buy from Neutral to reflect increased penetration of the company's new rear-camera display product.

• Deutsche Bank upgraded shares of China Life Insurance (NYSE: LFC) to Hold from Sell on valuation and the continued strong equity markets...

OTHER UPGRADES:

• Morgan Stanley raised DirecTV Group (NYSE: DTV) to Overweight from Equal Weight.

• Citigroup upgraded Sempra Energy (NYSE: SRE) to Buy from Hold.

• Acorda Therapeutics (NASDAQ: ACOR) was upgraded to Buy from Neutral at Banc of America.

• Merrill Lynch raised Citadel Broadcasting Corp's (NYSE: CDL) rating to Buy from Neutral.

• CyberSource Corp (NASDAQ: CYBS) was upgraded to Buy from Accumulate at ThinkEquity.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

MOST NOTEWORTHY: Today's noteworthy initiations included MasterCard Inc (MA), Time Warner Cable Inc (TWC), ZymoGenetics, Inc (ZGEN) and California Pizza Kitchen, Inc (CPKI):

• AG Edwards started MasterCard Inc (NYSE: MA) with a Hold rating, citing near-term concerns about the consumer and valuation.

• Credit Suisse initiated Time Warner Cable (NYSE: TWC) with a Neutral rating and $41 target.

• Citigroup initiated ZymoGenetics (NASDAQ: ZGEN) Inc with a Sell rating and $12 target. The firm sees further downside given their belief the Street will lower its Thrombin expectations due to sales disappointment in early 2008.

• Morgan Keegan initiated shares of California Pizza Kitchen (NASDAQ: CPKI) with an Outperform rating, finding shares compelling given the company's substantial unit growth opportunity.

OTHER INITIATIONS:

• Buckingham initiated shares of Gentex Corp (NASDAQ: GNTX) with an Underperform with a $14 target, and expects margin pressure to continue.

• Citigroup started POZEN Inc (NASDAQ: POZN) with a Buy rating and $28 target.

• Needham initiated SeaChange International (NASDAQ: SEAC) with a Buy rating and $12 target.

• BB&T started Tarragon Corp (NASDAQ: TARR) with a Buy rating and $13 target, as the firm believes the proposed spin-off of its home-building business would unlock shareholder value.

• Wachovia initiated shares of C.H. Robinson Worldwide Inc (NASDAQ: CHRW) with an Outperform rating.

• Shares of Brookfield Properties Corp (NYSE: BPO) were started with a Hold rating at Stifel.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

MOST NOTEWORTHY: The automotive sector was today's most noteworthy initiation:

• Prudential initiated the automotive manufacturers industry and automotive retail industry with Favorable ratings and the automotive parts and equipment industry with an Unfavorable rating. The firm initiated coverage on following stocks:
  
• Overweight-rated names included Autoliv Inc (NYSE: ALV), Group 1 Automotive, Inc (NYSE: GPI), Honda Motor Co, Ltd (NYSE: HMC), Johnson Controls, Inc (NYSE: JCI), Sonic Automotive, Inc (NYSE: SAH), & Toyota Motor Corp (NYSE: TM).
  
• Neutral Weight-rated names included AutoNation, Inc (NYSE: AN), DaimlerChrysler (NYSE: DCX), Magna International Inc (NYSE: MGA) and United Auto Group, Inc (NYSE: UAG).
  
• Underweight-rated names included Ford Motor Co (NYSE: F), General Motors Corp (NYSE: GM) and Gentex Corp (NASDAQ: GNTX).

OTHER INITIATIONS:

• Bernstein initiated JPMorgan Chase & Co (NYSE: JPM) with a Market Perform rating and $54 target.

• Lehman started Time Warner Cable Inc (NYSE: TWC) with a Neutral rating.

• Merriman initiated shares of Progressive Gaming International Corp (NASDAQ: PGIC) with a Buy rating, as the firm believes it is on the cusp of gaining meaningful market share of casino floors through its technologies and now is the time to get involved in shares.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).

MOST NOTEWORTHY: Genesis Microchip Inc (GNSS), Columbia Sportswear Co (COLM) and Gentex Corp (GNTX) were today's most notable downgrades:

• Genesis Microchip Inc (NASDAQ: GNSS) was downgraded to Sell from Hold at Roth Capital, citing the loss of significant market share, and to Market Weight from Overweight at Thomas Weisel following the company's disappointing earnings report.

• Columbia Sportswear Co (NASDAQ: COLM) was downgraded to Sell from Hold at Matrix USA based on valuation.

• Calyon downgraded Gentex Corp (NASDAQ: GNTX) to Sell from Neutral.

OTHER DOWNGRADES:

• Following the company's fourth-quarter report, Buckingham downgraded International Flavors & Fragrances Inc (NYSE: IFF) to Neutral from Accumulate.

• Bank of America downgraded Clear Channel Communications Inc (NYSE: CCU) to Neutral from Outperform with a $37 target, as shares are pricing a best-case scenario of a deal and sees downside risk if the deal falls apart.

• Following fourth-quarter results and reduced guidance, Friedman Billings downgraded shares of Phelps Dodge Corp (NYSE: PD) to Market Perform from Outperform with a $125 target.

Analyst summaries provided by TheFlyOnTheWall.com (subscription required).