Notable Analyst Rating Changes 7/22: QLGC, BBI, ARTC Upgraded; TXN, MRK, SNDK Downgraded

July 22, 2008 10:10 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Citi upgrades QLogic Corp (Nasdaq: QLGC) from Hold to Buy. Price target increased by $2 to $20. Needham & Co. also upgraded the stock from Hold to Buy.

Pali Research upgrades Blockbuster (NYSE: BBI) from Neutral to Buy with a $4 price target.

BMO Capital upgrades ArthroCare (Nasdaq: ARTC) from Underperform to Market Perform.

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

DOWNGRADES:
Merrill Lynch downgrades Texas Instruments (NYSE: TXN) from Buy to Neutral. Price target lowered to $27.

Merrill Lynch downgrades Merck (NYSE: MRK) from Buy to Neutral.

Citi and Needham downgrade SanDisk (Nasdaq: SNDK) to Sell and Hold, respectively.

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

NEW COVERAGE:
BofA resumes coverage on Alcoa (NYSE: AA) with a Buy.

Caris & Co initiates coverage on Clear Channel Outdoor (NYSE: CCO) with a Below Average rating. Price target $12.

Stifel Nicolaus initiates coverage on Fifth Street Finance (NYSE: FSC) with a Buy rating.

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


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Stocks Mentioned

AA 28.30

-0.26 -0.91%
Volume: 17,488,539
Track AA

ARTC 24.89

+1.00 +4.19%
Volume: 526,131
Track ARTC

BBI 2.35

+0.01 +0.43%
Volume: 4,095,686
Track BBI

CCO 16.41

-0.32 -1.91%
Volume: 292,823
Track CCO

FSC 11.09

+0.17 +1.56%
Volume: 32,400
Track FSC

MRK 34.30

+0.13 +0.38%
Volume: 15,356,359
Track MRK

QLGC 18.30

+0.16 +0.88%
Volume: 3,195,345
Track QLGC

SNDK 17.64

+4.18 +31.05%
Volume: 54,692,004
Track SNDK

TXN 22.64

+0.24 +1.07%
Volume: 23,256,890
Track TXN


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