Notable Analyst Rating Changes 7/22: QLGC, BBI, ARTC Upgraded; TXN, MRK, SNDK Downgraded

July 22, 2008 10:10 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Citi upgrades QLogic Corp (Nasdaq: QLGC) from Hold to Buy. Price target increased by $2 to $20. Needham & Co. also upgraded the stock from Hold to Buy.

Pali Research upgrades Blockbuster (NYSE: BBI) from Neutral to Buy with a $4 price target.

BMO Capital upgrades ArthroCare (Nasdaq: ARTC) from Underperform to Market Perform.

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

DOWNGRADES:
Merrill Lynch downgrades Texas Instruments (NYSE: TXN) from Buy to Neutral. Price target lowered to $27.

Merrill Lynch downgrades Merck (NYSE: MRK) from Buy to Neutral.

Citi and Needham downgrade SanDisk (Nasdaq: SNDK) to Sell and Hold, respectively.

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

NEW COVERAGE:
BofA resumes coverage on Alcoa (NYSE: AA) with a Buy.

Caris & Co initiates coverage on Clear Channel Outdoor (NYSE: CCO) with a Below Average rating. Price target $12.

Stifel Nicolaus initiates coverage on Fifth Street Finance (NYSE: FSC) with a Buy rating.

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


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Stocks Mentioned

AA 13.82

+2.57 +22.84%
Volume: 30,195,638
Track AA

ARTC 25.40

+1.22 +5.05%
Volume: 313,329
Track ARTC

BBI 1.69

+0.06 +3.68%
Volume: 3,454,602
Track BBI

CCO 6.39

+0.64 +11.13%
Volume: 2,449,903
Track CCO

FSC 7.39

+1.80 +32.20%
Volume: 268,976
Track FSC

MRK 29.42

+3.19 +12.16%
Volume: 20,425,686
Track MRK

QLGC 13.84

+1.31 +10.45%
Volume: 5,055,819
Track QLGC

SNDK 17.18

+1.26 +7.91%
Volume: 9,390,616
Track SNDK

TXN 20.20

+1.04 +5.43%
Volume: 22,068,341
Track TXN


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