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 3.83

+0.04 +1.06%
Volume: 14,083,898
Track ALU

DIS 28.56

-0.44 -1.52%
Volume: 11,862,517
Track DIS

DSTI 0.37

+0.01 +2.78%
Volume: 252,320
Track DSTI

FCX 79.56

+0.06 +0.08%
Volume: 13,426,404
Track FCX

FRX 28.67

+0.28 +0.99%
Volume: 2,233,754
Track FRX

FSLR 117.93

-2.83 -2.34%
Volume: 2,949,877
Track FSLR

HOG 25.73

-0.17 -0.66%
Volume: 2,124,200
Track HOG

IBM 123.49

+0.39 +0.32%
Volume: 4,979,517
Track IBM

IPG 6.47

+0.09 +1.41%
Volume: 5,608,762
Track IPG

NOK 13.21

+0.08 +0.61%
Volume: 21,648,116
Track NOK

SPWR 60.75

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

SPWRA 26.60

-0.05 -0.19%
Volume: 1,699,257
Track SPWRA

TU 29.52

-0.45 -1.50%
Volume: 112,622
Track TU


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