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 26.93

-0.52 -1.89%
Volume: 5,613,690
Track BK

CMI 46.99

-0.02 -0.04%
Volume: 1,085,672
Track CMI

COMS 5.44

-0.05 -0.91%
Volume: 4,850,366
Track COMS

FSLR 120.10

+0.60 +0.50%
Volume: 2,019,686
Track FSLR

NFLX 58.64

+1.44 +2.52%
Volume: 1,519,713
Track NFLX

NVDA 13.17

-0.29 -2.15%
Volume: 16,738,929
Track NVDA

PCL 34.05

+0.11 +0.32%
Volume: 1,177,734
Track PCL

QCOM 44.38

-0.37 -0.83%
Volume: 10,296,878
Track QCOM

STT 43.28

-0.45 -1.03%
Volume: 3,576,888
Track STT

TXN 25.13

+0.50 +2.03%
Volume: 16,919,555
Track TXN

UFS 50.61

+0.11 +0.22%
Volume: 1,027,484
Track UFS

UL 30.62

+0.12 +0.39%
Volume: 1,570,345
Track UL

USB 24.41

-0.10 -0.41%
Volume: 6,851,630
Track USB


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