Notable Analyst Rating Changes 7/1: SIRI, AXP, NVDA, CTAS Upgraded; FO, ALTR, RBN Downgraded

July 1, 2008 9:53 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Merrill Lynch upgrades Sirius Satellite Radio, Inc. (Nasdaq: SIRI) from Neutral to Buy.

UBS upgrades American Express Company (NYSE: AXP) from Sell to Neutral but cut its price target to $41, citing valuation which they said already reflects a weak outlook. UBS expects the company to increase forecasts for credit losses.

FTN Midwest upgrades NVIDIA (Nasdaq: NVDA) from Sell to Neutral.

Citi upgrades Cintas Corp (Nasdaq: CTAS) from Sell to Hold. Price target $27.50.

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

DOWNGRADES:
Wachovia downgrades Fortune Brands Inc. (NYSE: FO) from Outperform to Market Perform, following Q2 pre-announcement.

Jefferies & Co downgrades Altera (Nasdaq: ALTR) from Hold to Underperform, citing current valuation. Price target $17.

BB&T downgrades Robbins & Myers (NYSE: RBN) from Buy to Hold.

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

NEW COVERAGE:
Morgan Stanley set coverage on Lehman Brothers (NYSE: LEH) and Goldman Sachs (NYSE: GS) with Overweight ratings.

Merriman Curhan initiates coverage on Intuitive Surgical (Nasdaq: ISRG) with a Neutral, citing concerns about capital equipment spending for small and mid-size hospitals.

UBS initiates coverage on Genzyme Corp. (Nasdaq: GENZ) with a Buy rating.

JPMorgan initiates coverage on Comcast Corp. (Nasdaq: CMCSA) with an Overweight rating.

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


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Stocks Mentioned

ALTR 20.72

+0.32 +1.57%
Volume: 10,520,464
Track ALTR

AXP 39.40

+0.65 +1.68%
Volume: 14,007,331
Track AXP

CMCSA 20.61

-0.24 -1.15%
Volume: 21,249,969
Track CMCSA

CTAS 30.56

-0.15 -0.49%
Volume: 1,045,372
Track CTAS

FO 58.12

+0.50 +0.87%
Volume: 810,405
Track FO

GENZ 76.12

+1.02 +1.36%
Volume: 3,329,252
Track GENZ

GS 163.24

+2.34 +1.45%
Volume: 7,537,265
Track GS

ISRG 268.86

-4.63 -1.69%
Volume: 911,674
Track ISRG

LEH 16.20

+1.03 +6.79%
Volume: 43,310,661
Track LEH

NVDA 11.67

+0.17 +1.48%
Volume: 19,779,536
Track NVDA

RBN 40.12

+0.49 +1.24%
Volume: 413,349
Track RBN

SIRI 1.30

+0.04 +3.17%
Volume: 37,895,031
Track SIRI


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