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 3.42

-0.02 -0.58%
Volume: 4,475,349
Track ALU

DIS 30.70

-0.03 -0.10%
Volume: 6,736,625
Track DIS

DSTI 0.41

+0.00 +0.00%
Volume: 97,439
Track DSTI

FCX 85.25

+1.34 +1.60%
Volume: 7,035,659
Track FCX

FRX 31.57

+0.56 +1.81%
Volume: 1,465,008
Track FRX

FSLR 121.82

-0.20 -0.16%
Volume: 549,351
Track FSLR

HOG 29.48

+0.56 +1.94%
Volume: 1,818,105
Track HOG

IBM 127.76

-0.18 -0.14%
Volume: 2,610,398
Track IBM

IPG 6.58

+0.11 +1.70%
Volume: 1,177,177
Track IPG

NOK 13.06

-0.35 -2.61%
Volume: 16,373,723
Track NOK

SPWR 60.75

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

SPWRA 21.45

-0.17 -0.79%
Volume: 1,021,868
Track SPWRA

TU 31.20

-0.09 -0.29%
Volume: 46,837
Track TU


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