Notable Analyst Rating Changes 8/12: FCX, PVA, RIO, DAL, CAL, AMR Upgraded; GS, WYNN, LUV, MCD Downgraded

August 12, 2008 9:49 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Soleil Securities upgrades Freeport-McMoRan Copper & Gold (NYSE: FCX) from Hold to Buy with a $135 price target, citing valuation.

SunTrust Robinson Humphrey upgrades Penn Virginia (NYSE: PVA) from Hold to Buy with a $93 price target.

HSBC upgrades Vale (NYSE: RIO) from Underweight to Neutral.

J.P. Morgan upgrades Alaska Air Group (NYSE: ALK) and Delta Air Lines (NYSE: DAL) from Neutral to Overweight, AMR Corp (NYSE: AMR), Continental (NYSE: CAL), and US Airways (NYSE: LCC) upgraded from Underweight to Overweight, and Northwest Airlines (NYSE: NWA) was upgraded from Underweight to Neutral.

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

DOWNGRADES:
Deutsche Bank's Mike Mayo downgrades Goldman Sachs (NYSE: GS) from Buy to Hold and lowers his price target from $209 to $192, citing its leverage to the equity markets.

J.P. Morgan downgrades Wynn Resorts (Nasdaq: WYNN) from Overweight to Neutral.

J.P. Morgan downgrades Southwest Airlines (NYSE: LUV) from Neutral to Underweight.

UBS downgrades McDonald's (NYSE: MCD) from Buy to Neutral, citing slowing fast food trends in the U.S.

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

NEW COVERAGE:
Goldman Sachs initiates coverage on AU Optronics (NYSE: AUO) with a Buy rating.

Citi initiates coverage on Best Buy Co Inc (NYSE: BBY) with a Hold. Price target $47.

Piper Jaffray initiates coverage on United Therapeutics (NASDAQ: UTRH) with a Sell rating and a $68 price target.

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


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Stocks Mentioned

ALK 30.50

+0.00 +0.00%
Volume: 1,189,702
Track ALK

AMR 11.63

+0.00 +0.00%
Volume: 8,988,852
Track AMR

AUO 8.06

+0.00 +0.00%
Volume: 4,196,200
Track AUO

BBY 29.55

+0.00 +0.00%
Volume: 7,594,328
Track BBY

CAL 20.78

+0.00 +0.00%
Volume: 6,838,750
Track CAL

DAL 11.88

+0.00 +0.00%
Volume: 12,449,925
Track DAL

FCX 27.99

+0.00 +0.00%
Volume: 25,195,194
Track FCX

GS 84.50

+0.00 +0.00%
Volume: 12,589,410
Track GS

LCC 9.08

+0.00 +0.00%
Volume: 5,469,023
Track LCC

LUV 8.94

+0.00 +0.00%
Volume: 9,230,728
Track LUV

MCD 61.24

+0.00 +0.00%
Volume: 7,910,335
Track MCD

NWA 9.90

+0.00 +0.00%
Volume: 15,676,884
Track NWA

PVA 28.84

+0.00 +0.00%
Volume: 366,217
Track PVA

RIO 13.68

+0.00 +0.00%
Volume: 31,323,250
Track RIO

WYNN 47.23

+0.00 +0.00%
Volume: 3,278,449
Track WYNN


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