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 27.21

-0.24 -0.87%
Volume: 493,856
Track BK

CMI 47.32

+0.31 +0.66%
Volume: 110,868
Track CMI

COMS 5.55

+0.06 +1.09%
Volume: 508,932
Track COMS

FSLR 122.28

+2.78 +2.33%
Volume: 613,126
Track FSLR

NFLX 58.43

+1.23 +2.15%
Volume: 372,269
Track NFLX

NVDA 13.42

-0.04 -0.30%
Volume: 2,222,188
Track NVDA

PCL 33.71

-0.23 -0.68%
Volume: 126,049
Track PCL

QCOM 44.61

-0.14 -0.31%
Volume: 1,119,035
Track QCOM

STT 43.14

-0.59 -1.35%
Volume: 409,184
Track STT

TXN 25.06

+0.43 +1.75%
Volume: 3,465,762
Track TXN

UFS 51.07

+0.57 +1.13%
Volume: 54,355
Track UFS

UL 30.60

+0.10 +0.33%
Volume: 351,816
Track UL

USB 24.36

-0.15 -0.61%
Volume: 921,405
Track USB


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