JPMorgan: Analysts' Upgrades, Downgrades

NEW YORK (TheStreet) -- CHANGE IN RATINGS

Allegheny Technologies (ATI Quote) upgraded at UBS. Rating raised to Buy from Neutral. Price target raised to $42 from $31. 2009 EPS estimates raised to $0.25 from $0.22.

Baker Hughes (BHI Quote) downgraded at Citigroup to Sell. Stock is now up 21% since announcing the BJS deal, doubling the performance of the industry. There are several integration risks in the deal.

Chicago Bridge & Iron (CBI Quote) upgraded at Goldman from Neutral to Buy. Company has leverage to LNG in Australia and the relative valuation remains compelling.

Donaldson (DCI Quote) upgraded at Credit Suisse to Outperform from Underperform based on upside in the engine aftermarket business and long term growth prospects. 2010 EPS estimate lifted to $1.60 from $1.55, 2011 maintained at $1.93. Price target surged to $41 from $28.

FPL Group(FPL Quote) upgraded at Argus from Hold to Buy. $64 price target. Valuation call, to reflect improved operating performance and better earnings visibility.

Granite Construction (GVA Quote) downgraded at Goldman from Buy to Neutral. Stock lacks near-term catalysts and there's downside risk to third quarter earnings.

International Paper (IP Quote) rated new Outperform at RBC Capital. Company has strong free cash flow and should benefit from tax credits, which will allow management to pay down debt. $27 price target.

JPMorgan (JPM Quote) upgraded at Fox-Pitt to Outperform. $55 price target. Estimates also raised.

JPMorgan (JPM Quote) estimates boosted at Goldman through 2011. Company is on track to deliver higher pre-provision earnings. Buy rating and $54 price target.