NEW YORK (CNN/Money) - Prudential downgraded Wal-Mart Stores Friday reflecting concerns that the stock has gotten too pricey and the retailer's earnings growth could slow. First Albany downgraded Microsoft on revenue concerns.

Here's a look at these and other brokerage moves early Friday:

Prudential downgraded Wal-Mart Stores (WMT: Research, Estimates) to "hold" from "buy," saying that the stock has gained so much lately that it is now getting expensive. In addition, the firm expects earnings-per-share growth to slow to about 13 percent annually, whereas the First Call consensus 5-year growth estimate is for 14.5 percent. Investors who bought the stock as a defensive play could start rotating out of it and into other retail stocks that can offer more upside once the economy picks up.

First Albany downgraded Microsoft (MSFT: Research, Estimates) to "buy" from "strong buy" and cut its 12-month price target to $29 from $33, saying that the company may have more trouble than previously thought renewing maintenance contracts which could hit fiscal 2004 revenue growth rates. Additionally, factors that have boosted revenue growth in fiscal 2002 and 2003 such as the Xbox launch and licensing 6.0 deadlines will normalize in 2004.

Morgan Stanley raised its 2003 and 2004 earnings-per-share estimates on telecom networking company Juniper Networks (JNPR: Research, Estimates) citing the company's recent better-than-expected profit report. Morgan Stanley is now forecasting 2003 earnings of 7 cents, up from 5 cents and 2004 earnings of 14 cents, up from 11 cents. CIBC World Markets also raised estimates, pushing 2003 earnings per share to 9 cents, up from 5 cents and 2004 earnings up to 17 cents, from 12 cents.

On Thursday, diversified newspaper companies E.W. Scripps (SSP: Research, Estimates) and Dow Jones & Co. (DJ: Research, Estimates) both reported stronger first-quarter results that missed analysts' estimates and warned that the weak advertising environment would hurt second-quarter results.

Credit Suisse cut Scripps' 12-month price target to $96 from $99, saying that Scripps has been one of the best performing stocks in the sector because of the growth in its cable networks. But this aspect of its business may not drive growth with the same momentum going forward. Merrill Lynch also cut its 2003 earnings per share estimates on Scripps.

Credit Suisse First Boston also cut its 12-month price target on sector mate Dow Jones & Co. to $33 from $39, saying that the stock has underperformed year-to-date and that although there should be a major cyclical snapback to the business at some point, that is not on the horizon as of yet.

Credit Suisse First Boston raised its second-quarter, 2003 and 2004 earnings-per-share estimates on computer security provider RSA Security (RSAS: Research, Estimates) after the company reported its first quarterly net profit in almost two years on higher sales despite weak overall information technology spending. Credit Suisse maintained its outperform rating, saying that the company has a compelling valuation and that fundamentals seem to have stabilized.