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 13.64

+0.84 +6.56%
Volume: 49,413,831
Track AA

COP 51.84

-0.42 -0.80%
Volume: 6,830,764
Track COP

DE 54.00

-0.05 -0.09%
Volume: 4,803,398
Track DE

FCX 85.18

+1.27 +1.51%
Volume: 11,278,685
Track FCX

HAL 28.95

-0.40 -1.36%
Volume: 11,780,646
Track HAL

JCP 29.17

+0.36 +1.25%
Volume: 5,108,046
Track JCP

LM 28.89

+0.36 +1.26%
Volume: 2,290,971
Track LM

RHT 27.71

+0.26 +0.95%
Volume: 1,685,768
Track RHT

SLM 11.22

-0.03 -0.27%
Volume: 4,054,431
Track SLM

THQI 4.83

-0.15 -3.01%
Volume: 1,355,381
Track THQI

XRTX 11.39

+0.56 +5.17%
Volume: 187,651
Track XRTX


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