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 13.32

-0.02 -0.15%
Volume: 12,842,464
Track AA

COP 53.09

+0.24 +0.45%
Volume: 5,476,014
Track COP

DE 48.46

-0.02 -0.04%
Volume: 2,526,659
Track DE

FCX 82.05

-1.15 -1.38%
Volume: 8,103,922
Track FCX

HAL 31.02

-0.61 -1.93%
Volume: 5,003,367
Track HAL

JCP 30.81

-0.43 -1.38%
Volume: 2,252,879
Track JCP

LM 31.36

-0.24 -0.76%
Volume: 733,503
Track LM

RHT 27.39

+0.12 +0.44%
Volume: 551,982
Track RHT

SLM 10.52

-0.23 -2.14%
Volume: 1,663,933
Track SLM

THQI 5.09

-0.16 -3.05%
Volume: 407,540
Track THQI

XRTX 11.17

-0.42 -3.62%
Volume: 74,320
Track XRTX


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