Notable Analyst Rating Changes 7/2: XOM, VSE, RAI, FITB Upgraded; DEO, PXP, UAUA Downgraded

July 2, 2008 9:50 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Sanford C. Bernstein upgrades Exxon Mobil (NYSE: XOM) from Market Perform to Outperform, citing consistent returns and strong credit rating.

Oppenheimer upgrades VeraSun Energy (NYSE: VSE) from Perform to Outperform, telling clients the stock is oversold. Price target $6.

Morgan Stanley upgrades Reynolds American (NYSE: RAI) from Underweight to Equalweight.

Baird upgrades Fifth Third Bancorp (Nasdaq: FITB) from Neutral to Outperform, saying current capital reserves should limit downside risk. Price target $13.

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

DOWNGRADES:
UBS downgrades Diageo plc (NYSE: DEO) from Buy to Neutral.

Morgan Stanley downgrades Plains Exploration & Production (NYSE: PXP) from Overweight to Equalweight.

Goldman Sachs downgrades UAL Corp. (Nasdaq: UAUA) from Buy to Neutral.

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

NEW COVERAGE:
Credit Suisse assumes coverage on BlackRock, Inc. (NYSE: BLK) with an Underperform rating.

Merrill Lynch assumes coverage on Allied Capital Corp (NYSE: ALD) with a Buy rating.

Roth Capital initiates coverage on BioMarin Pharmaceutical (Nasdaq: BMRN) with a Hold rating and a $27 price target.

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


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Stocks Mentioned

ALD 14.75

-0.02 -0.14%
Volume: 1,219,837
Track ALD

BLK 217.25

-1.50 -0.69%
Volume: 252,744
Track BLK

BMRN 30.14

+0.74 +2.52%
Volume: 2,843,935
Track BMRN

DEO 74.40

+0.62 +0.84%
Volume: 535,394
Track DEO

FITB 15.78

+0.43 +2.80%
Volume: 8,952,445
Track FITB

PXP 53.90

-1.04 -1.89%
Volume: 1,307,495
Track PXP

RAI 52.98

-0.68 -1.27%
Volume: 1,043,209
Track RAI

UAUA 11.11

+0.11 +1.00%
Volume: 20,277,276
Track UAUA

VSE 5.76

+0.07 +1.23%
Volume: 1,271,897
Track VSE

XOM 80.01

-1.17 -1.44%
Volume: 22,061,719
Track XOM


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