Notable Analyst Rating Changes 6/23: BHP, ETFC, SIRI, FDX, UPS Upgraded; MRVL, PKI, BPI Downgraded

June 23, 2009 10:08 AM EDT

UPGRADES:
Citi upgrades BHP Billiton (NYSE: BHP) from Hold to Buy.

FBR Capital upgrades E*Trade Financial (Nasdaq: ETFC) two-notches from Underperform to Outperform, citing a more attractive risk/reward following the recent capital raise and commencement of its debt exchange offer yesterday.

Barrington upgrades Sirius XM Radio (Nasdaq: SIRI) from Market Perform to Outperform.

JP Morgan upgrades FedEx (NYSE: FDX) from Neutral to Overweight.

Jesup & Lamont upgrades United Parcel Service (NYSE: UPS) from Hold to Buy. Click here to see more color on the upgrade.

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

DOWNGRADES:
Deutsche Bank downgrades Marvell Technology (Nasdaq: MRVL) from Buy to Hold and maintains its $13 price target, citing valuation. Click here for the full report.

Barclays downgrades PerkinElmer (NYSE: PKI) from Equalweight to Underweight.

Credit Suisse downgrades Bridgepoint Education (NYSE: BPI) from Outperform to Neutral.

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

NEW COVERAGE:
Morgan Joseph initiates coverage on Raytheon Company (NYSE: RTN) with a Buy rating and $55 price target.

Morgan Stanley initiates coverage on Waste Management (NYSE: WMI) with an Equalweight rating.

Susquehanna initiates coverage on Loews Corporation (NYSE: L) with a Positive rating. Price target $33. Click here to see full color.

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


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Stocks Mentioned

BHP 77.81

-0.09 -0.12%
Volume: 3,162,255
Track BHP

BPI 14.79

-0.31 -2.05%
Volume: 457,954
Track BPI

ETFC 1.71

-0.04 -2.29%
Volume: 55,792,347
Track ETFC

FDX 86.40

-0.70 -0.80%
Volume: 2,532,662
Track FDX

L 35.34

-0.24 -0.67%
Volume: 1,150,383
Track L

MRVL 16.66

+0.13 +0.79%
Volume: 8,959,808
Track MRVL

PKI 19.49

+0.06 +0.31%
Volume: 475,521
Track PKI

RTN 51.71

-0.19 -0.37%
Volume: 2,433,201
Track RTN

SIRI 0.63

-0.01 -1.56%
Volume: 9,464,961
Track SIRI

UPS 57.87

-0.03 -0.05%
Volume: 3,713,017
Track UPS

WMI 28.39

-0.18 -0.63%
Volume: 1,276,223
Track WMI


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