Notable Analyst Rating Changes 10/07: NOK, ALU, FCX, TU Upgraded; FSLR, SPWR, DIS, IBM, FRX Downgraded

October 7, 2008 9:51 AM EDT

UPGRADES:
Morgan Stanley upgrades Nokia (NYSE: NOK) and Alcatel-Lucent (NYSE: ALU) to Overweight, citing valuation after recent stock declines.

Friedman Billings upgrades Freeport-McMoRan (NYSE: FCX) from Market Perform to Outperform but lowered their price target from $115 to $85 price target, citing valuation.

UBS upgrades TELUS Corporation (NYSE: TU) from Neutral to Buy.

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

DOWNGRADES:
Goldman Sachs downgrades First Solar (Nasdaq: FSLR) from Buy to Sell.

Goldman Sachs downgrades SunPower Corporation (Nasdaq: SPWRA) (Nasdaq: SPWR) from Buy to Sell.

Merrill Lynch downgraded Walt Disney (NYSE: DIS) from Neutral to Underperform

Barclays Capital downgrades IBM (NYSE: IBM) from Overweight to Equal Weight and lowers its price target from $130 to $108

JPMorgan downgrades Forest Laboratories Inc. (NYSE: FRX) from Neutral to Underweight.

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

NEW COVERAGE:
Cantor Fitzgerald initiates coverage on DayStar Technologies, Inc. (Nasdaq: DSTI) with a Buy. Price target $5.

JP Morgan initiates coverage on Harley-Davidson, Inc. (NYSE: HOG) with a Neutral rating.

Morgan Stanley initates coverage on Interpublic Group of Companies Inc. (NYSE: IPG) with an Underweight rating.

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


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Stocks Mentioned

ALU 2.03

+0.00 +0.00%
Volume: 16,500
Track ALU

DIS 19.94

+0.00 +0.00%
Volume: 200
Track DIS

DSTI 1.30

+0.00 +0.00%
Volume: 104,887
Track DSTI

FCX 20.24

+0.00 +0.00%
Volume: 39,268
Track FCX

FRX 21.49

+0.00 +0.00%
Volume: 3,454,350
Track FRX

FSLR 101.13

+0.00 +0.00%
Volume: 33,836
Track FSLR

HOG 13.49

+0.00 +0.00%
Volume: 4,576,340
Track HOG

IBM 75.97

+0.00 +0.00%
Volume: 1,002
Track IBM

IPG 2.61

+0.00 +0.00%
Volume: 13,898,559
Track IPG

NOK 12.98

+0.00 +0.00%
Volume: 35,599
Track NOK

SPWR 60.75

+0.00 +0.00%
Volume: 3,741,039
Track SPWR

SPWRA 24.24

+0.00 +0.00%
Volume: 2,950
Track SPWRA

TU 28.28

+0.00 +0.00%
Volume: 330,438
Track TU


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