Notable Analyst Rating Changes 6/19: CCL, ARM, SPWRA, FRO Upgraded; VMW, LDK, RFMD Downgraded

June 19, 2009 9:52 AM EDT

UPGRADES:
Wachovia upgrades Carnival (NYSE: CCL) to Outperform. Valuation range: $28 to $30. Click here for the full report.

Barclays upgrades ArvinMeritor (NYSE: ARM) from Equal Weight to Overweight, citing ability to address near-term liquidty issues.

UBS upgrades SunPower (Nasdaq: SPWRA) from Neutral to Buy and raises their price target from $26 to $38, saying company is best positioned to benefit from increased U.S. solar demand.

Goldman Sachs upgraded Frontline Ltd. (NYSE: FRO) from Sell to Buy and added the stock to their Conviction Buy List.

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

DOWNGRADES:
Goldman Sachs removed VMware, Inc. (NYSE: VMW) from its Conviction Buy List and downgraded the stock from Buy to Neutral. The firm's price target was raised from $29 to $31.

UBS downgrades LDK Solar (NYSE: LDK) from Buy to Neutral.

FBR Capital downgraded the U.S. dry bulk shipping sector from Market Weight to Underweight.

UBS downgrades RF Micro Devices (Nasdaq: RFMD) from Buy to Neutral.

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

NEW COVERAGE:
HSBC initiates coverage on Baidu.com (Nasdaq: BIDU) with an Underweight rating and $244 price target, which 17% represents downside.

Rochdale's Dick Bove initiates coverage on Citigroup (NYSE: C) with a Buy rating and $4 price target - CNBC Says normalized EPS of $1.12 could make the stock worth up to $12 per share.

Stifel Nicolaus initiates coverage on Ciena (Nasdaq: CIEN) with a Buy.

Kaufman Bros. initiates coverage on priceline.com (Nasdaq: PCLN) with a Buy. Price target $145.

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


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Stocks Mentioned

ARM 8.15

+0.00 +0.00%
Volume: 896,136
Track ARM

BIDU 432.86

+4.97 +1.16%
Volume: 28,511
Track BIDU

C 4.10

+0.05 +1.23%
Volume: 30,616,656
Track C

CCL 32.65

+0.00 +0.00%
Volume: 950
Track CCL

CIEN 12.39

+0.28 +2.31%
Volume: 66,105
Track CIEN

FRO 28.84

+0.29 +1.02%
Volume: 3,474
Track FRO

LDK 8.38

+0.00 +0.00%
Volume: 533,307
Track LDK

PCLN 223.30

+3.29 +1.50%
Volume: 21,899
Track PCLN

RFMD 5.15

+0.14 +2.79%
Volume: 309,052
Track RFMD

SPWRA 22.83

+0.32 +1.42%
Volume: 37,293
Track SPWRA

VMW 42.59

+0.40 +0.95%
Volume: 332
Track VMW


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