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 3.40

-0.01 -0.29%
Volume: 6,214,917
Track ALU

DIS 30.72

+0.39 +1.29%
Volume: 10,454,187
Track DIS

DSTI 0.40

+0.00 +0.00%
Volume: 160,907
Track DSTI

FCX 79.15

-4.65 -5.55%
Volume: 18,599,863
Track FCX

FRX 31.15

-0.08 -0.26%
Volume: 1,150,192
Track FRX

FSLR 128.71

+0.59 +0.46%
Volume: 3,123,564
Track FSLR

HOG 28.30

-0.33 -1.15%
Volume: 3,164,192
Track HOG

IBM 126.55

-1.00 -0.78%
Volume: 5,490,649
Track IBM

IPG 6.31

-0.11 -1.71%
Volume: 5,211,058
Track IPG

NOK 12.65

-0.10 -0.78%
Volume: 17,822,985
Track NOK

SPWR 60.75

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

SPWRA 22.07

-0.44 -1.95%
Volume: 2,437,073
Track SPWRA

TU 31.64

-0.19 -0.60%
Volume: 72,165
Track TU


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