Notable Analyst Rating Changes 10/07: NOK, ALU, FCX, TU Upgraded; FSLR, SPWR, DIS, IBM, FRX Downgraded

October 7, 2008 9:51 AM EDT

UPGRADES:
Morgan Stanley upgrades Nokia (NYSE: NOK) and Alcatel-Lucent (NYSE: ALU) to Overweight, citing valuation after recent stock declines.

Friedman Billings upgrades Freeport-McMoRan (NYSE: FCX) from Market Perform to Outperform but lowered their price target from $115 to $85 price target, citing valuation.

UBS upgrades TELUS Corporation (NYSE: TU) from Neutral to Buy.

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

DOWNGRADES:
Goldman Sachs downgrades First Solar (Nasdaq: FSLR) from Buy to Sell.

Goldman Sachs downgrades SunPower Corporation (Nasdaq: SPWRA) (Nasdaq: SPWR) from Buy to Sell.

Merrill Lynch downgraded Walt Disney (NYSE: DIS) from Neutral to Underperform

Barclays Capital downgrades IBM (NYSE: IBM) from Overweight to Equal Weight and lowers its price target from $130 to $108

JPMorgan downgrades Forest Laboratories Inc. (NYSE: FRX) from Neutral to Underweight.

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

NEW COVERAGE:
Cantor Fitzgerald initiates coverage on DayStar Technologies, Inc. (Nasdaq: DSTI) with a Buy. Price target $5.

JP Morgan initiates coverage on Harley-Davidson, Inc. (NYSE: HOG) with a Neutral rating.

Morgan Stanley initates coverage on Interpublic Group of Companies Inc. (NYSE: IPG) with an Underweight rating.

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


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Stocks Mentioned

ALU 3.96

+0.13 +3.39%
Volume: 14,714,406
Track ALU

DIS 29.00

+0.44 +1.54%
Volume: 12,643,478
Track DIS

DSTI 0.36

-0.01 -2.70%
Volume: 542,435
Track DSTI

FCX 83.20

+3.64 +4.58%
Volume: 14,370,264
Track FCX

FRX 28.95

+0.28 +0.98%
Volume: 2,563,198
Track FRX

FSLR 119.50

+1.57 +1.33%
Volume: 2,789,448
Track FSLR

HOG 27.07

+1.34 +5.21%
Volume: 3,872,839
Track HOG

IBM 126.00

+2.51 +2.03%
Volume: 7,765,409
Track IBM

IPG 6.77

+0.30 +4.64%
Volume: 5,518,673
Track IPG

NOK 13.57

+0.36 +2.73%
Volume: 23,397,037
Track NOK

SPWR 60.75

+0.00 +0.00%
Volume: 3,741,039
Track SPWR

SPWRA 27.45

+0.85 +3.20%
Volume: 1,765,952
Track SPWRA

TU 30.20

+0.68 +2.30%
Volume: 117,127
Track TU


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