Notable Analyst Rating Changes 6/18: ARM, MPEL, LNC, CNW Upgraded; BWA, SNDK, PAYX, YRCW Downgraded

June 18, 2009 9:46 AM EDT

UPGRADES:
Goldman Sachs upgrades ArvinMeritor Inc. (NYSE: ARM) from Neutral to Buy with a $5 price target, providing upside of up to 43%.

Deutsche Bank upgrades Melco Crown Entertainment Ltd. (Nasdaq: MPEL) from Hold to Buy with a $6.50 price target, saying confusion creates opportunities. Click here for the full report.

Credit Suisse upgrades Lincoln National (NYSE: LNC) from Neutral to Outperform. Here is more color on the upgrade.

Baird upgrades Con-way (NYSE: CNW) from Neutral to Outperform and increases price target from $22 to $42.

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

DOWNGRADES:
Goldman downgraded BorgWarner Inc. (NYSE: BWA) from Buy to Neutral with a $33 price target, citing valuation.

Needham & Co downgrades SanDisk (Nasdaq: SNDK) from Hold to Underperform.

J.P. Morgan downgrades Paychex (Nasdaq: PAYX) from Neutral to Underweight.

Robert W. Baird downgrades YRC Worldwide (Nasdaq: YRCW) from Neutral to Underperform saying they see a potential bankruptcy.

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

NEW COVERAGE:
Pali Research initiates coverage of AT&T (NYSE: T) with a Sell rating and a $20 price target. Click here for more color.

Pali Research initiates coverage on Verizon (NYSE: VZ) with a Buy rating and $39 price target. Here is the full report.

Cowen & Co initiates coverage on IBM (NYSE: IBM) with an Outperform rating.

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


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Stocks Mentioned

ARM 8.35

-0.12 -1.42%
Volume: 766,094
Track ARM

BWA 31.07

+0.34 +1.11%
Volume: 1,118,376
Track BWA

CNW 32.07

+1.19 +3.85%
Volume: 908,878
Track CNW

IBM 127.21

-0.73 -0.57%
Volume: 4,599,675
Track IBM

LNC 23.26

+0.47 +2.06%
Volume: 5,373,781
Track LNC

MPEL 4.54

+0.01 +0.22%
Volume: 7,649,213
Track MPEL

PAYX 32.09

+0.36 +1.13%
Volume: 3,432,178
Track PAYX

SNDK 21.59

+0.73 +3.50%
Volume: 10,706,060
Track SNDK

T 27.35

+0.17 +0.63%
Volume: 18,346,285
Track T

VZ 32.65

+0.31 +0.96%
Volume: 16,575,684
Track VZ

YRCW 1.30

+0.12 +10.17%
Volume: 10,034,895
Track YRCW


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