Notable Analyst Rating Changes 6/17: QCOM, TXN, USB, NVDA, NFLX Upgraded; UFS, PCL, UL, CMI Downgraded

June 17, 2009 10:06 AM EDT

UPGRADES:
Goldman Sachs upgrades QUALCOMM Inc. (Nasdaq: QCOM) from Neutral to Buy and added the stock to their Conviction Buy List with a $53 price target

Merrill Lynch/BAM is out with a major call on Texas Instruments (NYSE: TXN) upgrading their rating to Buy from Underperform and adding the stock to their U.S 1 Focust list with a $27 tgt (prev. $18). Click here for more color.

Deutsche Bank upgrades US Bancorp (NYSE: USB) from Hold to Buy and raised their price target from $20 to $21, saying $3 normalized EPS possible. Click here for the full report.

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

Wedbush Morgan upgrades Netflix, Inc. (Nasdaq: NFLX) from Hold to Buy with a $48 price target, citing compelling valuation. Click here for the full report.

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

DOWNGRADES:
J.P. Morgan downgrades Domtar (NYSE: UFS) from Overweight to Neutral.

J.P. Morgan downgrades Plum Creek Timber (NYSE: PCL) from Neutral to Underweight.

UBS downgrades Unilever PLC (NYSE: UL) from Neutral to Sell.

UBS downgrades Cummins (NYSE: CMI) from Buy to Neutral.

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

NEW COVERAGE:
Baird initiates coverage on First Solar (Nasdaq: FSLR) with a Neutral. Price target $180.

Needham initiates coverage on 3Com (Nasdaq: COMS) with a Buy rating and 'Street High' $7 price target.

SunTust initiates coverage on State Street (NYSE: STT) with a Buy. Price target $68.

SunTrust initiates coverage on The Bank of New York Mellon (NYSE: BK) with a Buy. Price target $38.

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


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Stocks Mentioned

BK 27.21

-0.24 -0.87%
Volume: 119,165
Track BK

CMI 47.26

+0.25 +0.53%
Volume: 46,521
Track CMI

COMS 5.50

+0.01 +0.18%
Volume: 153,355
Track COMS

FSLR 120.13

+0.63 +0.53%
Volume: 83,631
Track FSLR

NFLX 58.10

+0.90 +1.57%
Volume: 116,002
Track NFLX

NVDA 13.44

-0.02 -0.15%
Volume: 979,702
Track NVDA

PCL 33.67

-0.27 -0.80%
Volume: 70,969
Track PCL

QCOM 44.43

-0.32 -0.72%
Volume: 609,507
Track QCOM

STT 43.29

-0.44 -1.01%
Volume: 185,173
Track STT

TXN 24.82

+0.19 +0.77%
Volume: 639,157
Track TXN

UFS 51.09

+0.59 +1.17%
Volume: 13,447
Track UFS

UL 30.63

+0.13 +0.43%
Volume: 265,434
Track UL

USB 24.26

-0.25 -1.02%
Volume: 319,564
Track USB


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