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 13.47

+0.13 +0.97%
Volume: 25,342,096
Track AA

COP 53.58

+0.73 +1.38%
Volume: 13,679,771
Track COP

DE 48.35

-0.13 -0.27%
Volume: 4,317,514
Track DE

FCX 82.57

-0.63 -0.76%
Volume: 15,444,599
Track FCX

HAL 31.47

-0.16 -0.51%
Volume: 10,195,191
Track HAL

JCP 31.15

-0.09 -0.29%
Volume: 4,147,715
Track JCP

LM 31.57

-0.03 -0.09%
Volume: 1,319,838
Track LM

RHT 27.56

+0.29 +1.06%
Volume: 1,259,382
Track RHT

SLM 10.56

-0.19 -1.77%
Volume: 3,447,067
Track SLM

THQI 5.04

-0.21 -4.00%
Volume: 1,181,089
Track THQI

XRTX 11.29

-0.30 -2.59%
Volume: 124,085
Track XRTX


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