Market Perform - Price 26.50 on March 11 by Morgan Keegan In reaction to soft economic readings (ISM-manufacturing, employment and construction), we're materially lowering our macroeconomic assumptions for industrial activity, nonresidential construction and housing. Using capacity-utilization as a proxy for industrial activity, we are lowering 2008 and 2009 from 81.5% and 81.8%, to 80.6% and 80.7%, respectively. For nonresidential construction, we have reduced a moderate growth track to a no-growth environment. Enterprise value/Ebitda [earnings before interest, taxes, depreciation and amortization]: 6.5 times. Debt-to-total cap: 14.3%. Market-cap: $1.1 billion.

Buy - Price 1.61 on March 11 by Jefferies & Co. Dune is a rapidly growing, early-stage exploration and production company.... Still in the formative stages, the company is led by a CEO with prior [2006] experience turning a troubled minnow into a marquee offshore player sold for an exceptional price. Initiating coverage with Buy and target of $2.60, based on '09 reserves of 190 bcfe [billion cubic feet of natural-gas equivalent], and on pricing. Market-cap: $125 million.

Buy - Price 87.22 on March 11 by Sandler O'Neill With BEN trading at 11.5 times forward earnings, or nearly a 20% discount to the peer group, we believe the stock's current valuation does not fully reflect scale, diversification, global footprint advantages, improving investment performance, best-in-class margins, and accelerating capital management. Market-cap: $21 billion.

Buy - Price 442.21 on March 12 by Needham & Co. The European Union has cleared GOOG's purchase of DoubleClick. A GOOG executive...expect[s] display advertising to be "very significant" by 2008-'09...[We see] GOOG captur[ing] a significant share of the nearly $5 billion per-year online display-ad biz with this acquisition...Management doesn't provide guidance. We're tweaking our forecasts largely upward. While 4Q07 results didn't meet the most bullish expectations, [they] reinforce our positive view.... Target: 690. Market-cap: $104 billion.

Buy - Price 7.02 on March 11 by Pacific Growth Equities In our view, INET has quietly developed a highly profitable business (30%+ Ebitda margin) by building and acquiring Websites with high volume of organic traffic, and improving monetization of these sites. We believe its organic traffic-acquisition model provides less volatility to the business and is sustainable in the long run. With the stock trading well below the industry averages, we believe investors have yet to recognize the intrinsic value of the organic traffic generated by its Websites and its scalable traffic-monetization platform. Initiating coverage of INET with a Buy rating and a fair value of $12/share. Market-cap: $306 million.

Sell - Price 32.71 on March 11 by Sterne Agee [This is] the only company we cover that has significant exposure to the municipal-bond market...[about] 20% of [its] revenues are generated by public finance. Our 36 target [is based on] a 0.9 times discount to tangible book value of $38.99. Market-cap: $753 million.

Sell/Above-Average Risk - Price 6.31 on March 5 by Zacks Research This specialty pharmaceutical firm acquires, develops, and commercializes preit scription drugs used to treat a variety of gastrointestinal diseases. It suffered a major setback in December when the FDA granted approval to three generic versions of ... Colazal ... a significant contributor to [its] top and bottom lines. As such, we expect significant declines in both revenues and earnings [in 2008]. While new-product launches and new indications for Xifaxan should support a recovery in revenues in '09, we don't expect earnings to recover prior to '10. Target: 5. Market-cap: $300 million.

Market Outperform - Price 29.65 on March 11 by JMP Securities TXN lowered guidance for F1Q08 -- from a previous...$3.27 billion to $3.55 billion [range] in revenue/43 to 49 cents in GAAP [earnings per share], to a range of $3.21 billion to $3.35 billion/41 to 45 cents in EPS....TXN will likely [sustain] gross margins of 54% to 55%....Our target is 35, down from 40, based on 16 times our new C09 EPS of $2.25, relative to our outlook for 15% secular earnings growth. Market-cap: $38 billion.