Notable Analyst Rating Changes 6/23: JCP, BLK, OI, SHPGY Upgraded; AUO, MF, MOT Downgraded

June 23, 2008 9:40 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Deutsche Bank upgrades JC Penny (NYSE: JCP) from Hold to Buy and raises their price target to $46.

Goldman Sachs upgrades BlackRock, Inc. (NYSE: BLK) from Neutral to Buy.

BofA upgrades Owens-Illinois (NYSE: OI) from Neutral to Buy.

Goldman Sachs upgrades Shire (Nasdaq: SHPGY) from Neutral to Buy.

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

DOWNGRADES:
Merrill Lynch downgrades AU Optronics (NYSE: AUO) from Buy to Neutral.

Goldman Sachs downgraded US Financial Stocks From Neuteral to Underweight.

Goldman Sachs downgraded Consumer Discretionary Stocks From Neuteral to Underweight.

Keefe, Bruyette, and Woods downgrades MF Global (NYSE: MF) from Outperform to Market Perform and lowers their price target to $8.50 to reflect the anticipated dilutive effect of the convertible offerings.

Piper Jaffray downgrades Motorola (NYSE: MOT) from Neutral to Sell and lowers their price target from $9.75 to $7.00. The firm's June checks shows Motorola is continuing to lose handset market share in North America.

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

NEW COVERAGE:
BofA resumes coverage on Monotype Imaging (Nasdaq: TYPE) with a Buy.

UBS initiates coverage on MBIA (NYSE: MBI) with a Neutral.

Cowen & Co. initiates coverage on Waters (NYSE: WAT) with an Outperform rating, saying continued innovation and operational strength supports upside.

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

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Related Entities

• Piper Jaffray
• Deutsche Bank
• UBS
• Goldman Sachs
• Merrill Lynch
• Banc of America

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