Upgrades
China Sunergy (CSUN)- Lazard Capital Sell » Hold
Pharmacopeia (PCOP)- Broadpoint Capital Buy » Strong Buy
Mariner Energy (ME)- CapitalOne southcoast Add » Strong Buy
Callon Petroleum (CPE)- CapitalOne southcoast Add » Strong Buy
Tyco Electronics (TEL)- Longbow Neutral » Buy
Lithia Motors (LAD)- JP Morgan Underweight » Neutral
Asbury Automotive (ABG)- JP Morgan Neutral » Overweight
Stellent (STEL)- Sun Trust Rbsn Humphrey Neutral » Buy
Fiserv (FISV)- JMP Securities Mkt Perform » Mkt Outperform
Arbitron (ARB)- Bear Stearns Peer Perform » Outperform
Alliance Imaging (AIQ)- Deutsche Securities Hold » Buy
Anadarko Petro (APC)- Lehman Brothers Equal-Weight » Overweight
Downgrades
Ocean Fin (OCFC)- Sterne Agee Buy » Hold
Preferred Bank (PFBC)- DA Davidson Buy » Neutral
Audiovox (VOXX)- CL King Strong Buy » Accumulate
Woodward Governor (WGOV)- Kevin Dann Buy » Hold
Exar (EXAR)- B. Riley & Co Buy » Neutral
UCBH Holdings (UCBH)- FTN Midwest Buy » Neutral
Sterling Financial (STSA)- FTN Midwest Buy » Neutral
Center Finl (CLFC)- FTN Midwest Buy » Neutral
LG Display (LPL)- Credit Suisse Outperform » Neutral
Nucor (NUE)- CIBC Wrld Mkts Sector Perform » Sector Underperform
Gerdau AmeriSteel (GNA)- CIBC Wrld Mkts Sector Outperform » Sector Perform
Sonic Automotive (SAH)- JP Morgan Neutral » Underweight
Encore Wire (WIRE)- Sterne Agee Hold » Sell
Response Genetics (RGDX)- Caris & Company Buy » Above Average
Urban Outfitters (URBN)- Stifel Nicolaus Buy » Hold
Reynolds American (RAI)- JP Morgan Neutral » Underweight
Votorantim Cel (VCP)- Deutsche Securities Buy » Hold
SanDisk (SNDK)- JMP Securities Mkt Perform » Mkt Underperform
IPC The Hospitalist (IPCM)- Wachovia Outperform » Mkt Perform
Concur Tech (CNQR)- Credit Suisse Outperform » Neutral
CNET (CNET)- Banc of America Sec Buy » Neutral
Medcath (MDTH)- Wachovia Outperform » Mkt Perform
Albemarle (ALB)- JP Morgan Overweight » Neutral
Healthcare Realty (HR)- Morgan Keegan Mkt Perform » Underperform
Health Care REIT (HCN)- Morgan Keegan Outperform » Mkt Perform
Health Care Ppty (HCP)- Morgan Keegan Outperform » Mkt Perform
Ventas (VTR)- Morgan Keegan Outperform » Mkt Perform
Nationwide Health (NHP)- Morgan Keegan Outperform » Mkt Perform
Bankunited Fin (BKUNA)- Oppenheimer Outperform » Perform
Anadarko Petro (APC)- Friedman Billings Outperform » Mkt Perform
Urban Outfitters (URBN)- Lehman Brothers Overweight » Equal-Weight

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