Notable Analyst Rating Changes 6/19: CCL, ARM, SPWRA, FRO Upgraded; VMW, LDK, RFMD Downgraded

June 19, 2009 9:52 AM EDT

UPGRADES:
Wachovia upgrades Carnival (NYSE: CCL) to Outperform. Valuation range: $28 to $30. Click here for the full report.

Barclays upgrades ArvinMeritor (NYSE: ARM) from Equal Weight to Overweight, citing ability to address near-term liquidty issues.

UBS upgrades SunPower (Nasdaq: SPWRA) from Neutral to Buy and raises their price target from $26 to $38, saying company is best positioned to benefit from increased U.S. solar demand.

Goldman Sachs upgraded Frontline Ltd. (NYSE: FRO) from Sell to Buy and added the stock to their Conviction Buy List.

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

DOWNGRADES:
Goldman Sachs removed VMware, Inc. (NYSE: VMW) from its Conviction Buy List and downgraded the stock from Buy to Neutral. The firm's price target was raised from $29 to $31.

UBS downgrades LDK Solar (NYSE: LDK) from Buy to Neutral.

FBR Capital downgraded the U.S. dry bulk shipping sector from Market Weight to Underweight.

UBS downgrades RF Micro Devices (Nasdaq: RFMD) from Buy to Neutral.

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

NEW COVERAGE:
HSBC initiates coverage on Baidu.com (Nasdaq: BIDU) with an Underweight rating and $244 price target, which 17% represents downside.

Rochdale's Dick Bove initiates coverage on Citigroup (NYSE: C) with a Buy rating and $4 price target - CNBC Says normalized EPS of $1.12 could make the stock worth up to $12 per share.

Stifel Nicolaus initiates coverage on Ciena (Nasdaq: CIEN) with a Buy.

Kaufman Bros. initiates coverage on priceline.com (Nasdaq: PCLN) with a Buy. Price target $145.

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


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Stocks Mentioned

ARM 8.42

+0.27 +3.31%
Volume: 177,027
Track ARM

BIDU 431.00

+3.11 +0.73%
Volume: 320,750
Track BIDU

C 4.08

+0.03 +0.74%
Volume: 95,830,507
Track C

CCL 33.21

+0.56 +1.72%
Volume: 1,132,022
Track CCL

CIEN 12.40

+0.29 +2.39%
Volume: 1,654,725
Track CIEN

FRO 28.75

+0.20 +0.70%
Volume: 166,139
Track FRO

LDK 9.26

+0.88 +10.50%
Volume: 4,981,246
Track LDK

PCLN 225.00

+4.99 +2.27%
Volume: 328,573
Track PCLN

RFMD 5.22

+0.21 +4.19%
Volume: 3,009,720
Track RFMD

SPWRA 22.39

-0.12 -0.53%
Volume: 1,067,201
Track SPWRA

VMW 43.63

+1.44 +3.41%
Volume: 417,332
Track VMW


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