Notable Analyst Rating Changes 7/1: SIRI, AXP, NVDA, CTAS Upgraded; FO, ALTR, RBN Downgraded

July 1, 2008 9:53 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Merrill Lynch upgrades Sirius Satellite Radio, Inc. (Nasdaq: SIRI) from Neutral to Buy.

UBS upgrades American Express Company (NYSE: AXP) from Sell to Neutral but cut its price target to $41, citing valuation which they said already reflects a weak outlook. UBS expects the company to increase forecasts for credit losses.

FTN Midwest upgrades NVIDIA (Nasdaq: NVDA) from Sell to Neutral.

Citi upgrades Cintas Corp (Nasdaq: CTAS) from Sell to Hold. Price target $27.50.

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

DOWNGRADES:
Wachovia downgrades Fortune Brands Inc. (NYSE: FO) from Outperform to Market Perform, following Q2 pre-announcement.

Jefferies & Co downgrades Altera (Nasdaq: ALTR) from Hold to Underperform, citing current valuation. Price target $17.

BB&T downgrades Robbins & Myers (NYSE: RBN) from Buy to Hold.

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

NEW COVERAGE:
Morgan Stanley set coverage on Lehman Brothers (NYSE: LEH) and Goldman Sachs (NYSE: GS) with Overweight ratings.

Merriman Curhan initiates coverage on Intuitive Surgical (Nasdaq: ISRG) with a Neutral, citing concerns about capital equipment spending for small and mid-size hospitals.

UBS initiates coverage on Genzyme Corp. (Nasdaq: GENZ) with a Buy rating.

JPMorgan initiates coverage on Comcast Corp. (Nasdaq: CMCSA) with an Overweight rating.

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


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Stocks Mentioned

ALTR 17.74

-1.10 -5.84%
Volume: 8,231,806
Track ALTR

AXP 27.65

-3.22 -10.43%
Volume: 13,686,962
Track AXP

CMCSA 17.25

-1.17 -6.35%
Volume: 23,589,802
Track CMCSA

CTAS 26.20

-0.95 -3.50%
Volume: 1,007,016
Track CTAS

FO 49.20

-3.22 -6.14%
Volume: 851,352
Track FO

GENZ 70.91

-5.86 -7.63%
Volume: 2,538,074
Track GENZ

GS 117.57

-10.43 -8.15%
Volume: 13,895,873
Track GS

ISRG 193.35

-32.35 -14.33%
Volume: 1,273,113
Track ISRG

LEH 0.13

+0.00 +0.00%
Volume: 0
Track LEH

NVDA 7.42

-1.61 -17.83%
Volume: 25,500,551
Track NVDA

RBN 24.39

-2.77 -10.20%
Volume: 435,845
Track RBN

SIRI 0.48

-0.10 -17.24%
Volume: 54,360,075
Track SIRI


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