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 26.88

-0.57 -2.08%
Volume: 7,338,761
Track BK

CMI 46.94

-0.07 -0.15%
Volume: 1,348,409
Track CMI

COMS 5.41

-0.08 -1.46%
Volume: 6,551,475
Track COMS

FSLR 119.90

+0.40 +0.33%
Volume: 2,282,672
Track FSLR

NFLX 58.40

+1.20 +2.10%
Volume: 1,884,081
Track NFLX

NVDA 13.13

-0.33 -2.45%
Volume: 19,540,452
Track NVDA

PCL 33.89

-0.05 -0.15%
Volume: 1,583,130
Track PCL

QCOM 44.35

-0.40 -0.89%
Volume: 12,514,163
Track QCOM

STT 42.90

-0.83 -1.90%
Volume: 4,791,488
Track STT

TXN 25.05

+0.42 +1.71%
Volume: 19,413,406
Track TXN

UFS 50.54

+0.04 +0.08%
Volume: 1,189,111
Track UFS

UL 30.65

+0.15 +0.49%
Volume: 1,762,002
Track UL

USB 24.33

-0.18 -0.73%
Volume: 8,640,780
Track USB


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