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Raymond James software analyst Michael Turits this morning raised his ratings on both CA (CA) and BMC (BMC) to Strong Buy from Outperform, while lowering Symantec (SYMC) to Outperform from Strong Buy.

Turits writes that he is upgrading both CA and BMC coming out of the recent CA World conference, seeing the two companies as “the more stable plays in infrastructure software going into a tough 2009.” He says both companies feature high recurring revenue, low consumer and small business exposure and low exposure to slowing PC unit shipments.

“We expect both CA and BMC to continue to benefit from

Filed under: Analyst reports, Analyst upgrades and downgrades, Boeing Co (BA), Oracle Corp (ORCL), Merck and Co (MRK), Harley-Davidson (HOG), Analyst initiations, Garmin Ltd (GRMN)

Analyst upgrades:

• Friedman Billings upgraded Synovus (NYSE: SNV) to Market Perform from Underperform on valuation following the recent weakness. BASF (OTC: BASFY) and Akzo Nobel (OTC: AKZOY) were upgraded to Buy from Neutral at UBS on valuation and believes cash flows can cover the company's dividend.
• JP Morgan upgraded H.B. Fuller (NYSE: FUL) to Overweight from Neutral citing benefits from lower raw mater

• Perrigo Company (Nasdaq: PRGO) announced today that it has acquired Unico Holdings for approximately $49 million in cash. The acquisition is expected to add nearly $50 million of annual sales and be accretive to earnings in the first twelve months.
• CA, Inc. (NASDAQ: CA) today announced it has signed a definitive agreement with Eurekify for CA to acquire Eurekify, a leading pioneer in identity and role management. Terms of the acquisition were not disclosed.The acquisition extends CA's leadership in identity and access management, bringing the next generation of role-based identity and comp

Goldman Sachs this morning updates its three “Technology Framework Lists,” which include the firm’s top five tech growth picks, its top five tech value plays, and their five least favorite tech names.

Their top five growth picks now include:

• Apple (AAPL)
• Cisco (CSCO)
• Citrix (CTXS)
• Research In Motion (RIMM)
• Visa (V)

New to the list are Cisco, Citrix and RIMM. Removed from the list: Oracle (ORCL). Other slots were created by stocks previously removed by stop-loss rules.

Cisco, Goldman writes, offers a “strong franchise at a very attractive valuation.” Citrix “is in a strong position to address

CA Inc. (CA) posted revenue for its fiscal second quarter ended September 30 of $1.107 billion, about in line with the Street at $1.12 billion. Non-GAAP profits of 41 cents a share beat the Street by four cents.

For the full year ending in March 2009, the company boosted its non-GAAP EPS guidance to $1.48 to $1.55 a share, from $1.45 to $1.52. The Street has been expecting $1.49. However, the company also said that its revenue growth will be at the low end of previous guidance on a constant currency basis at about 2%. That translates to $4.3 billion, which is below the Street at $4.5 billion