Notable Analyst Rating Changes 6/19: CCL, ARM, SPWRA, FRO Upgraded; VMW, LDK, RFMD Downgraded

June 19, 2009 9:52 AM EDT

UPGRADES:
Wachovia upgrades Carnival (NYSE: CCL) to Outperform. Valuation range: $28 to $30. Click here for the full report.

Barclays upgrades ArvinMeritor (NYSE: ARM) from Equal Weight to Overweight, citing ability to address near-term liquidty issues.

UBS upgrades SunPower (Nasdaq: SPWRA) from Neutral to Buy and raises their price target from $26 to $38, saying company is best positioned to benefit from increased U.S. solar demand.

Goldman Sachs upgraded Frontline Ltd. (NYSE: FRO) from Sell to Buy and added the stock to their Conviction Buy List.

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

DOWNGRADES:
Goldman Sachs removed VMware, Inc. (NYSE: VMW) from its Conviction Buy List and downgraded the stock from Buy to Neutral. The firm's price target was raised from $29 to $31.

UBS downgrades LDK Solar (NYSE: LDK) from Buy to Neutral.

FBR Capital downgraded the U.S. dry bulk shipping sector from Market Weight to Underweight.

UBS downgrades RF Micro Devices (Nasdaq: RFMD) from Buy to Neutral.

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

NEW COVERAGE:
HSBC initiates coverage on Baidu.com (Nasdaq: BIDU) with an Underweight rating and $244 price target, which 17% represents downside.

Rochdale's Dick Bove initiates coverage on Citigroup (NYSE: C) with a Buy rating and $4 price target - CNBC Says normalized EPS of $1.12 could make the stock worth up to $12 per share.

Stifel Nicolaus initiates coverage on Ciena (Nasdaq: CIEN) with a Buy.

Kaufman Bros. initiates coverage on priceline.com (Nasdaq: PCLN) with a Buy. Price target $145.

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


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Stocks Mentioned

ARM 8.36

+0.21 +2.58%
Volume: 871,206
Track ARM

BIDU 425.32

-2.57 -0.60%
Volume: 1,584,805
Track BIDU

C 4.06

+0.01 +0.25%
Volume: 319,281,159
Track C

CCL 32.86

+0.21 +0.64%
Volume: 4,353,327
Track CCL

CIEN 12.58

+0.47 +3.88%
Volume: 6,597,597
Track CIEN

FRO 28.41

-0.14 -0.49%
Volume: 777,122
Track FRO

LDK 8.99

+0.61 +7.28%
Volume: 11,391,946
Track LDK

PCLN 220.72

+0.71 +0.32%
Volume: 1,408,264
Track PCLN

RFMD 5.19

+0.18 +3.59%
Volume: 13,741,137
Track RFMD

SPWRA 22.31

-0.20 -0.89%
Volume: 3,421,916
Track SPWRA

VMW 44.60

+2.41 +5.71%
Volume: 2,908,944
Track VMW


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