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Notable Analyst Rating Changes 12/30: AXYS, RDEN Upgraded; DOW, GHL, THRM Downgraded

December 30, 2008 9:41 AM EST
UPGRADES:
Morgan Joseph upgrades Axsys Technologies (Nasdaq: AXYS) to Buy. Price target $64.

Wedbush Morgan upgrades Elizabeth Arden (Nasdaq: RDEN) from Hold to Buy. Price target $15.

For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades

DOWNGRADES:
Both Moody's and S&P downgraded Dow Chemical's (NYSE: DOW) credit ratings to 'Baa1' and 'BBB', respectively.

Keefe, Bruyette and Woods downgrades Greenhill (NYSE: GHL) from Outperform to Market Perform. Price target lowered from $72 to $66.

Collins Stewart downgrades Thermage, Inc. (Nasdaq: THRM) to Hold.

For daily real-time Downgrades go to http://www.streetinsider.com/Downgrades

NEW COVERAGE:
Wedbush Morgan initiates coverage on Family Dollar Stores (NYSE: FDO) with a Hold.

BMO and Piper Jaffray start Grand Canyon Education (Nasdaq: LOPE) at Outperform and Buy, respectively.

Jesup & Lamont initiates coverage on Bristow Group (NYSE: BRS) with a Buy. Price target $37.

For daily real-time New Coverage go to http://www.streetinsider.com/New+Coverage

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Piper Jaffray, Wedbush Morgan, Morgan Joseph, Collins Stewart, Jesup & Lamont, Standard & Poor's, Notable Analyst Rating Changes

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