Notable Analyst Rating Changes 6/25: XRTX, DE, JCP, LM, SLM Upgraded; COP, RHT, HAL Downgraded

June 25, 2009 10:06 AM EDT

UPGRADES:
Stifel Nicolaus and Baird upgrade Xyratex (Nasdaq: XRTX) to Buy and Outperform, respectively.

Goldman Sachs upgraded Deere & Co. (NYSE: DE) from Sell to Neutral, maintaining their $42 price target. The firm is citing an improved risk/reward.

JPMorgan upgrades J.C. Penney (NYSE: JCP) from Neutral to Overweight, also boosting its price target from $28 to $33. Click here for more color.

Deutsche Bank upgrades Legg Mason (NYSE: LM) from Sell to Hold. Price target increased from $18 to $23. Click here for the full report.

J.P. Morgan upgrades SLM Corporation (NYSE: SLM) from Neutral to Overweight. Click here for the full report.

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

DOWNGRADES:
Goldman Sachs downgraded ConocoPhillips (NYSE: COP) from Buy to Neutral, saying the risk/reward is less favroable relative to the sector.

Bank of America downgrades Red Hat (NYSE: RHT) from Buy to Neutral. Price target $21.

Goldman Sachs downgrades Halliburton Company (NYSE: HAL) from Buy to Neutral, $28 target. Removed from Conviction Buy List.

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

NEW COVERAGE:
Citigroup initiates coverage on Alcoa (NYSE: AA) with a Buy rating and $14 price target.

Citi initiates coverage on Freeport-McMoRan (NYSE: FCX) with a Hold. Price target $53.

ThinkEquity initiates coverage on THQ Inc (Nasdaq: THQI) with an Accumulate rating. Price target $8.

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


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Stocks Mentioned

AA 12.89

+0.00 +0.00%
Volume: 19,760,727
Track AA

COP 52.11

+0.16 +0.31%
Volume: 8,447,891
Track COP

DE 47.16

-0.95 -1.97%
Volume: 4,667,922
Track DE

FCX 79.56

+0.06 +0.08%
Volume: 13,426,404
Track FCX

HAL 31.03

+0.48 +1.57%
Volume: 15,965,689
Track HAL

JCP 30.52

+0.20 +0.66%
Volume: 5,719,468
Track JCP

LM 30.20

+0.09 +0.30%
Volume: 1,695,661
Track LM

RHT 27.59

+0.03 +0.11%
Volume: 1,424,067
Track RHT

SLM 10.10

+0.11 +1.10%
Volume: 4,682,945
Track SLM

THQI 5.18

+0.04 +0.78%
Volume: 1,265,292
Track THQI

XRTX 11.70

-0.07 -0.59%
Volume: 183,686
Track XRTX


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