Notable Analyst Rating Changes 6/25: XRTX, DE, JCP, LM, SLM Upgraded; COP, RHT, HAL Downgraded

June 25, 2009 10:06 AM EDT

UPGRADES:
Stifel Nicolaus and Baird upgrade Xyratex (Nasdaq: XRTX) to Buy and Outperform, respectively.

Goldman Sachs upgraded Deere & Co. (NYSE: DE) from Sell to Neutral, maintaining their $42 price target. The firm is citing an improved risk/reward.

JPMorgan upgrades J.C. Penney (NYSE: JCP) from Neutral to Overweight, also boosting its price target from $28 to $33. Click here for more color.

Deutsche Bank upgrades Legg Mason (NYSE: LM) from Sell to Hold. Price target increased from $18 to $23. Click here for the full report.

J.P. Morgan upgrades SLM Corporation (NYSE: SLM) from Neutral to Overweight. Click here for the full report.

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

DOWNGRADES:
Goldman Sachs downgraded ConocoPhillips (NYSE: COP) from Buy to Neutral, saying the risk/reward is less favroable relative to the sector.

Bank of America downgrades Red Hat (NYSE: RHT) from Buy to Neutral. Price target $21.

Goldman Sachs downgrades Halliburton Company (NYSE: HAL) from Buy to Neutral, $28 target. Removed from Conviction Buy List.

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

NEW COVERAGE:
Citigroup initiates coverage on Alcoa (NYSE: AA) with a Buy rating and $14 price target.

Citi initiates coverage on Freeport-McMoRan (NYSE: FCX) with a Hold. Price target $53.

ThinkEquity initiates coverage on THQ Inc (Nasdaq: THQI) with an Accumulate rating. Price target $8.

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


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Stocks Mentioned

AA 12.99

-0.28 -2.11%
Volume: 46,762,566
Track AA

COP 50.66

-0.51 -1.00%
Volume: 10,416,853
Track COP

DE 54.24

-0.16 -0.29%
Volume: 10,537,374
Track DE

FCX 79.87

-3.93 -4.69%
Volume: 22,227,276
Track FCX

HAL 27.81

-0.25 -0.89%
Volume: 13,301,116
Track HAL

JCP 27.90

-0.45 -1.59%
Volume: 6,854,130
Track JCP

LM 28.99

+0.28 +0.98%
Volume: 2,590,399
Track LM

RHT 27.91

+0.29 +1.05%
Volume: 1,369,775
Track RHT

SLM 11.42

-0.13 -1.13%
Volume: 5,974,405
Track SLM

THQI 4.64

-0.02 -0.43%
Volume: 1,901,445
Track THQI

XRTX 11.38

-0.14 -1.22%
Volume: 59,517
Track XRTX


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