Notable Analyst Rating Changes 12/11: RTP, TEF, WW Upgraded; JNS, FDRY, ERIC Downgraded

December 11, 2008 9:53 AM EST

UPGRADES:
Deutsche Bank upgrades Rio Tinto (NYSE: RTP) to Buy. Price target increased to $52.85 from $42.

Credit Suisse upgrades Telefonica (NYSE: TEF) from Neutral to Outperform.

Deutsche Bank upgrades Watson Wyatt (NYSE: WW) to Buy. Price target increased from $45 to $50.

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

DOWNGRADES:
Merrill Lynch downgrades Janus Capital (NYSE: JNS) from Neutral to Underperform.

Jefferies & Co downgrades Foundry Networks (Nasdaq: FDRY) to Hold.

Merrill Lynch downgrades Ericsson (Nasdaq: ERIC) from Buy to Underperform.

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

NEW COVERAGE:
UBS initiates coverage on Key Energy Services Inc. (NYSE: KEG) with a Neutral rating and $5.50 price target.

Cantor Fitzgerald initiates coverage on Red Hat Inc. (NYSE: RHT) with a Hold. Price target $15.

Jefferies & Co initiates coverage on Brocade Communications (Nasdaq: BRCD) with a Hold.

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


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Stocks Mentioned

BRCD 9.24

+0.25 +2.78%
Volume: 7,526,022
Track BRCD

ERIC 10.66

+0.42 +4.10%
Volume: 5,619,616
Track ERIC

FDRY 16.66

+0.00 +0.00%
Volume: 14,213,618
Track FDRY

JNS 13.98

+0.66 +4.95%
Volume: 2,833,702
Track JNS

KEG 7.96

+0.26 +3.38%
Volume: 647,850
Track KEG

RHT 27.27

-0.32 -1.16%
Volume: 2,693,798
Track RHT

RTP 204.73

+11.40 +5.90%
Volume: 945,856
Track RTP

TEF 85.60

+2.20 +2.64%
Volume: 713,346
Track TEF

WW 45.22

+0.91 +2.05%
Volume: 236,473
Track WW


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