Notable Analyst Rating Changes 6/16: TEL, SUNH, COOL, SMOD Upgraded; T, CX, TWTC, FTO Downgraded

June 16, 2009 9:47 AM EDT

UPGRADES:
Collins Stewart upgrades Tyco Electronics (NYSE: TEL) from Sell to Hold. Click here to see color on the upgrade.

Leerink Swann is upgrading Sun Healthcare (NASDAQ: SUNH) to Outperform from Market Perform with a valuation range of $13-$14. Click here for the full report.

Wedbush Morgan upgrades Majesco Entertainment Co. (Nasdaq: COOL) from Hold to Buy with a $2.50 price target. The firm said liquidity and operational execution are greatly improved. See details of the upgrade here.

Needham & Co upgrades SMART Modular Technologies (Nasdaq: SMOD) from Hold to Buy with a $4.50 price target.

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

DOWNGRADES:
Barclays downgrades AT&T (NYSE: T) from Overweight to Equal Weight as part of a broader U.S. telecom services sector cut to Neutral.

Bank of America downgrades CEMEX (NYSE: CX) from Neutral to Underperform.

Barclays downgrades tw telecom (Nasdaq: TWTC) from Overweight to Equalweight. Price target $14.

Credit Suisse downgrades Frontier Oil (NYSE: FTO) from Outperform to Neutral.

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

NEW COVERAGE:
Collins Stewart initiates coverage on Boston Scientific (NYSE: BSX) with a Hold. Here is the full report.

Goldman Sachs initiates coverage on Cummins Inc. (NYSE: CMI) with a Buy rating and $42 price target. The firm said CMI is set to benefit from global diesel emission regulations, growing Asian industrialization, and a cyclical turn in early cycle US truck markets.

Morgan Joseph initiates coverage on Celgene Pharmaceuticals (Nasdaq: CELG) with a Buy rating. Price target $52. Click here for full color on the coverage.

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


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Stocks Mentioned

BSX 8.22

+0.14 +1.73%
Volume: 10,455,547
Track BSX

CELG 53.47

+0.42 +0.79%
Volume: 2,116,427
Track CELG

CMI 46.90

+0.72 +1.56%
Volume: 1,079,598
Track CMI

COOL 1.02

+0.09 +9.68%
Volume: 244,706
Track COOL

CX 11.69

+0.66 +5.98%
Volume: 4,413,062
Track CX

FTO 13.33

+0.28 +2.15%
Volume: 2,096,341
Track FTO

SMOD 4.00

+0.08 +2.04%
Volume: 95,906
Track SMOD

SUNH 8.86

-0.01 -0.11%
Volume: 111,544
Track SUNH

T 26.18

+0.25 +0.96%
Volume: 11,710,872
Track T

TEL 22.84

+0.07 +0.31%
Volume: 1,086,077
Track TEL

TWTC 13.93

-0.01 -0.07%
Volume: 418,694
Track TWTC


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