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 27.36

+0.41 +1.52%
Volume: 10,031,097
Track BK

CMI 43.42

-3.74 -7.93%
Volume: 8,008,114
Track CMI

COMS 7.36

+0.00 +0.00%
Volume: 11,280,954
Track COMS

FSLR 121.71

-0.31 -0.25%
Volume: 1,104,157
Track FSLR

NFLX 59.00

+0.77 +1.32%
Volume: 1,299,078
Track NFLX

NVDA 13.72

+0.40 +3.00%
Volume: 15,058,532
Track NVDA

PCL 34.95

+0.27 +0.78%
Volume: 1,768,296
Track PCL

QCOM 45.06

+0.00 +0.00%
Volume: 12,581,656
Track QCOM

STT 43.04

+0.32 +0.75%
Volume: 5,756,273
Track STT

TXN 25.96

+0.02 +0.08%
Volume: 20,674,110
Track TXN

UFS 57.03

+0.73 +1.30%
Volume: 1,012,458
Track UFS

UL 30.69

+0.42 +1.39%
Volume: 1,023,276
Track UL

USB 24.43

+0.09 +0.37%
Volume: 10,026,199
Track USB


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