Notable Analyst Rating Changes 6/25: XRTX, DE, JCP, LM, SLM Upgraded; COP, RHT, HAL Downgraded

June 25, 2009 10:06 AM EDT

UPGRADES:
Stifel Nicolaus and Baird upgrade Xyratex (Nasdaq: XRTX) to Buy and Outperform, respectively.

Goldman Sachs upgraded Deere & Co. (NYSE: DE) from Sell to Neutral, maintaining their $42 price target. The firm is citing an improved risk/reward.

JPMorgan upgrades J.C. Penney (NYSE: JCP) from Neutral to Overweight, also boosting its price target from $28 to $33. Click here for more color.

Deutsche Bank upgrades Legg Mason (NYSE: LM) from Sell to Hold. Price target increased from $18 to $23. Click here for the full report.

J.P. Morgan upgrades SLM Corporation (NYSE: SLM) from Neutral to Overweight. Click here for the full report.

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

DOWNGRADES:
Goldman Sachs downgraded ConocoPhillips (NYSE: COP) from Buy to Neutral, saying the risk/reward is less favroable relative to the sector.

Bank of America downgrades Red Hat (NYSE: RHT) from Buy to Neutral. Price target $21.

Goldman Sachs downgrades Halliburton Company (NYSE: HAL) from Buy to Neutral, $28 target. Removed from Conviction Buy List.

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

NEW COVERAGE:
Citigroup initiates coverage on Alcoa (NYSE: AA) with a Buy rating and $14 price target.

Citi initiates coverage on Freeport-McMoRan (NYSE: FCX) with a Hold. Price target $53.

ThinkEquity initiates coverage on THQ Inc (Nasdaq: THQI) with an Accumulate rating. Price target $8.

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


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Stocks Mentioned

AA 12.80

+0.28 +2.24%
Volume: 26,410,782
Track AA

COP 52.26

+0.49 +0.95%
Volume: 8,164,971
Track COP

DE 54.05

+0.54 +1.01%
Volume: 6,344,565
Track DE

FCX 83.91

+1.11 +1.34%
Volume: 12,279,026
Track FCX

HAL 29.35

-0.01 -0.03%
Volume: 13,941,971
Track HAL

JCP 28.81

+0.07 +0.24%
Volume: 7,269,974
Track JCP

LM 28.53

+0.24 +0.85%
Volume: 2,717,495
Track LM

RHT 27.45

+0.75 +2.81%
Volume: 2,019,043
Track RHT

SLM 11.25

+0.28 +2.55%
Volume: 2,868,568
Track SLM

THQI 4.98

+0.08 +1.63%
Volume: 2,207,376
Track THQI

XRTX 10.83

-0.44 -3.90%
Volume: 426,366
Track XRTX


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