Notable Analyst Rating Changes 6/18: ARM, MPEL, LNC, CNW Upgraded; BWA, SNDK, PAYX, YRCW Downgraded

June 18, 2009 9:46 AM EDT

UPGRADES:
Goldman Sachs upgrades ArvinMeritor Inc. (NYSE: ARM) from Neutral to Buy with a $5 price target, providing upside of up to 43%.

Deutsche Bank upgrades Melco Crown Entertainment Ltd. (Nasdaq: MPEL) from Hold to Buy with a $6.50 price target, saying confusion creates opportunities. Click here for the full report.

Credit Suisse upgrades Lincoln National (NYSE: LNC) from Neutral to Outperform. Here is more color on the upgrade.

Baird upgrades Con-way (NYSE: CNW) from Neutral to Outperform and increases price target from $22 to $42.

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

DOWNGRADES:
Goldman downgraded BorgWarner Inc. (NYSE: BWA) from Buy to Neutral with a $33 price target, citing valuation.

Needham & Co downgrades SanDisk (Nasdaq: SNDK) from Hold to Underperform.

J.P. Morgan downgrades Paychex (Nasdaq: PAYX) from Neutral to Underweight.

Robert W. Baird downgrades YRC Worldwide (Nasdaq: YRCW) from Neutral to Underperform saying they see a potential bankruptcy.

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

NEW COVERAGE:
Pali Research initiates coverage of AT&T (NYSE: T) with a Sell rating and a $20 price target. Click here for more color.

Pali Research initiates coverage on Verizon (NYSE: VZ) with a Buy rating and $39 price target. Here is the full report.

Cowen & Co initiates coverage on IBM (NYSE: IBM) with an Outperform rating.

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


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Stocks Mentioned

ARM 7.90

+0.00 +0.00%
Volume: 1,519,515
Track ARM

BWA 31.84

+0.00 +0.00%
Volume: 1,669,891
Track BWA

CNW 30.35

+0.00 +0.00%
Volume: 1,205,435
Track CNW

IBM 123.49

+0.00 +0.00%
Volume: 6,027
Track IBM

LNC 23.75

+0.00 +0.00%
Volume: 500
Track LNC

MPEL 5.05

+0.00 +0.00%
Volume: 6,050
Track MPEL

PAYX 30.37

+0.00 +0.00%
Volume: 3,537,852
Track PAYX

SNDK 20.82

+0.00 +0.00%
Volume: 6,250
Track SNDK

T 25.93

+0.00 +0.00%
Volume: 5,113
Track T

VZ 29.56

+0.00 +0.00%
Volume: 12,619
Track VZ

YRCW 1.22

+0.00 +0.00%
Volume: 15,000
Track YRCW


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