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 71.11

-0.39 -0.55%
Volume: 2,584,897
Track BHP

BPI 16.00

+0.00 +0.00%
Volume: 227,683
Track BPI

ETFC 1.52

-0.06 -3.80%
Volume: 44,264,057
Track ETFC

FDX 81.58

+0.36 +0.44%
Volume: 2,065,138
Track FDX

L 35.57

+0.09 +0.25%
Volume: 827,749
Track L

MRVL 15.39

+0.15 +0.98%
Volume: 5,464,739
Track MRVL

PKI 19.55

+0.14 +0.72%
Volume: 554,121
Track PKI

RTN 48.33

+0.16 +0.33%
Volume: 1,529,331
Track RTN

SIRI 0.62

-0.01 -1.59%
Volume: 12,023,045
Track SIRI

UPS 56.68

+0.48 +0.85%
Volume: 2,443,884
Track UPS

WMI 28.39

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


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