Notable Analyst Rating Changes 6/30: FDX, ERTS, TSL, AMZN Upgraded; ALY, CEP, HOT, SO Downgraded

June 30, 2009 9:53 AM EDT

UPGRADES:
Barclays upgrades FedEx (NYSE: FDX) from Equal Weight to Overweight, and maintained their $71 price target.

Merrill Lynch/BAM is upgrading Electronic Arts (NASDAQ: ERTS) to Buy from Neutral following a modest post-E3 sell-off. Click here for the full report.

Morgan Stanley upgraded Trina Solar (NYSE: TSL) from Underweight to Overweight and raised their price target to $39.

Cowen upgrades Amazon.com (Nasdaq: AMZN) from Neutral to Outperform.

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

DOWNGRADES:
Wachovia downgrades Allis-Chalmers Energy, Inc. (NYSE: ALY) to Underperform; Valuation Range: $1.75 to $2. Click here for the full report.

Barclays downgrades Constellation Energy Partners (NYSE: CEP) from Equalweight to Underweight.

Wachovia downgrades Starwood Hotels (NYSE: HOT) to Market Perform. Here is more color on the downgrade.

Citigroup downgrades Southern Company (NYSE: SO) from Buy to Hold, but maintains their $31.50 price target.


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

NEW COVERAGE:
UBS resumes coverage on Goldman Sachs (NYSE: GS) with a Buy rating, saying the company is well positioned to manage through this cycle due to its strong capital rations, manageable legacy risk, limited consumer and corporate credit exposure and management.

BMO Capital initiates coverage on Research in Motion (Nasdaq: RIMM) with an Outperform rating. Price target $100.

BMO Capital initiates coverage on Nokia (NYSE: NOK) with an Underperform rating. Price target $11.

Morgan Joseph initiates coverage on Dendreon Corporation (Nasdaq: DNDN) with a Hold rating. The firm said there is high probability of approval for Provenge, but they are waiting for a better entry point.

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


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Stocks Mentioned

ALY 3.51

-0.11 -3.04%
Volume: 462,226
Track ALY

AMZN 126.67

+0.47 +0.37%
Volume: 8,629,629
Track AMZN

CEP 4.01

+0.15 +3.89%
Volume: 63,956
Track CEP

DNDN 29.31

+0.70 +2.45%
Volume: 2,620,024
Track DNDN

ERTS 19.53

+0.53 +2.79%
Volume: 13,464,979
Track ERTS

FDX 81.22

+4.10 +5.32%
Volume: 4,110,713
Track FDX

GS 176.57

+4.79 +2.79%
Volume: 10,333,830
Track GS

HOT 33.13

+2.04 +6.56%
Volume: 4,595,099
Track HOT

NOK 13.57

+0.36 +2.73%
Volume: 23,397,037
Track NOK

RIMM 61.56

+2.84 +4.84%
Volume: 26,700,333
Track RIMM

SO 32.09

+0.50 +1.58%
Volume: 3,420,885
Track SO

TSL 39.42

+1.27 +3.33%
Volume: 1,023,290
Track TSL


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