Notable Analyst Rating Changes 10/07: NOK, ALU, FCX, TU Upgraded; FSLR, SPWR, DIS, IBM, FRX Downgraded

October 7, 2008 9:51 AM EDT

UPGRADES:
Morgan Stanley upgrades Nokia (NYSE: NOK) and Alcatel-Lucent (NYSE: ALU) to Overweight, citing valuation after recent stock declines.

Friedman Billings upgrades Freeport-McMoRan (NYSE: FCX) from Market Perform to Outperform but lowered their price target from $115 to $85 price target, citing valuation.

UBS upgrades TELUS Corporation (NYSE: TU) from Neutral to Buy.

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

DOWNGRADES:
Goldman Sachs downgrades First Solar (Nasdaq: FSLR) from Buy to Sell.

Goldman Sachs downgrades SunPower Corporation (Nasdaq: SPWRA) (Nasdaq: SPWR) from Buy to Sell.

Merrill Lynch downgraded Walt Disney (NYSE: DIS) from Neutral to Underperform

Barclays Capital downgrades IBM (NYSE: IBM) from Overweight to Equal Weight and lowers its price target from $130 to $108

JPMorgan downgrades Forest Laboratories Inc. (NYSE: FRX) from Neutral to Underweight.

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

NEW COVERAGE:
Cantor Fitzgerald initiates coverage on DayStar Technologies, Inc. (Nasdaq: DSTI) with a Buy. Price target $5.

JP Morgan initiates coverage on Harley-Davidson, Inc. (NYSE: HOG) with a Neutral rating.

Morgan Stanley initates coverage on Interpublic Group of Companies Inc. (NYSE: IPG) with an Underweight rating.

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


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Stocks Mentioned

ALU 3.43

+0.02 +0.59%
Volume: 7,235,457
Track ALU

DIS 30.84

+0.51 +1.68%
Volume: 14,406,306
Track DIS

DSTI 0.41

+0.01 +2.50%
Volume: 256,588
Track DSTI

FCX 79.87

-3.93 -4.69%
Volume: 22,227,276
Track FCX

FRX 31.20

-0.03 -0.10%
Volume: 1,877,187
Track FRX

FSLR 129.62

+1.50 +1.17%
Volume: 3,731,210
Track FSLR

HOG 28.52

-0.11 -0.38%
Volume: 4,312,653
Track HOG

IBM 127.25

-0.30 -0.24%
Volume: 7,068,967
Track IBM

IPG 6.36

-0.06 -0.93%
Volume: 7,335,123
Track IPG

NOK 12.70

-0.05 -0.39%
Volume: 23,612,527
Track NOK

SPWR 60.75

+0.00 +0.00%
Volume: 3,741,039
Track SPWR

SPWRA 22.31

-0.20 -0.89%
Volume: 3,421,916
Track SPWRA

TU 31.62

-0.21 -0.66%
Volume: 98,820
Track TU


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