Notable Analyst Rating Changes 7/1: SIRI, AXP, NVDA, CTAS Upgraded; FO, ALTR, RBN Downgraded

July 1, 2008 9:53 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Merrill Lynch upgrades Sirius Satellite Radio, Inc. (Nasdaq: SIRI) from Neutral to Buy.

UBS upgrades American Express Company (NYSE: AXP) from Sell to Neutral but cut its price target to $41, citing valuation which they said already reflects a weak outlook. UBS expects the company to increase forecasts for credit losses.

FTN Midwest upgrades NVIDIA (Nasdaq: NVDA) from Sell to Neutral.

Citi upgrades Cintas Corp (Nasdaq: CTAS) from Sell to Hold. Price target $27.50.

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

DOWNGRADES:
Wachovia downgrades Fortune Brands Inc. (NYSE: FO) from Outperform to Market Perform, following Q2 pre-announcement.

Jefferies & Co downgrades Altera (Nasdaq: ALTR) from Hold to Underperform, citing current valuation. Price target $17.

BB&T downgrades Robbins & Myers (NYSE: RBN) from Buy to Hold.

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

NEW COVERAGE:
Morgan Stanley set coverage on Lehman Brothers (NYSE: LEH) and Goldman Sachs (NYSE: GS) with Overweight ratings.

Merriman Curhan initiates coverage on Intuitive Surgical (Nasdaq: ISRG) with a Neutral, citing concerns about capital equipment spending for small and mid-size hospitals.

UBS initiates coverage on Genzyme Corp. (Nasdaq: GENZ) with a Buy rating.

JPMorgan initiates coverage on Comcast Corp. (Nasdaq: CMCSA) with an Overweight rating.

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


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Stocks Mentioned

ALTR 20.40

+0.00 +0.00%
Volume: 12,231,400
Track ALTR

AXP 38.75

+0.00 +0.00%
Volume: 0
Track AXP

CMCSA 20.85

+0.00 +0.00%
Volume: 16,706,293
Track CMCSA

CTAS 30.71

+0.00 +0.00%
Volume: 1,057,886
Track CTAS

FO 57.62

+0.00 +0.00%
Volume: 0
Track FO

GENZ 75.10

+0.00 +0.00%
Volume: 0
Track GENZ

GS 160.90

+0.00 +0.00%
Volume: 0
Track GS

ISRG 273.49

+0.00 +0.00%
Volume: 870,318
Track ISRG

LEH 15.17

+0.00 +0.00%
Volume: 0
Track LEH

NVDA 11.50

+0.00 +0.00%
Volume: 17,904,354
Track NVDA

RBN 39.63

+0.00 +0.00%
Volume: 0
Track RBN

SIRI 1.26

+0.00 +0.00%
Volume: 40,845,928
Track SIRI


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