Notable Analyst Rating Changes 5/15: JWN, ZLC, CBS, VAL Upgraded; AFL, ZZ, CCE, CYT Downgraded

May 15, 2009 10:08 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Piper Jaffray & Co. upgrades Nordstrom, Inc. (NYSE: JWN) from Neutral to Buy. Price target increased $1 to $25. Click here for full color on the upgrade.

Bank of America upgrades Zale (NYSE: ZLC) from Neutral to Buy and raises their price target from $1.60 to $5.

Barclays upgrades CBS Corp. (NYSE: CBS) from Underweight to Equalweight. Price target increased from $5 to $9.

Goldman Sachs upgrades Valspar Corp. (NYSE: VAL) from Neutral to Buy and added the stock to their Conviction Buy List.

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

DOWNGRADES:
Morgan Stanley downgrades Aflac (NYSE: AFL) from Overweight to Equalweight.

Stifel Nicolaus and Raymond James downgrade Sealy (NYSE: ZZ) from Hold to Sell and from Strong Buy to Market Perform, respectively.

JPMorgan downgrades Coca-Cola Enterprises (NYSE: CCE) from Overweight to Neutral.

Goldman Sachs downgrades Cytec Industries Inc. (NYSE: CYT) from Neutral to Sell, but raises its price target from $16 to $21.

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

NEW COVERAGE:
Goldman Sachs resumes coverage on Alcoa, Inc. (NYSE: AA) with a Buy rating and $13 price target.

Stifel Nicolaus initiates coverage on BlackRock (NYSE: BLK) with a Hold.

Oppenheimer initiates coverage on Comverge (Nasdaq: COMV) with a Perform rating.

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


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Stocks Mentioned

AA 13.47

+0.13 +0.97%
Volume: 25,308,629
Track AA

AFL 44.00

+0.07 +0.16%
Volume: 3,194,747
Track AFL

BLK 232.08

-3.42 -1.45%
Volume: 273,365
Track BLK

CBS 13.05

-0.24 -1.81%
Volume: 11,350,563
Track CBS

CCE 20.03

-0.07 -0.35%
Volume: 3,428,930
Track CCE

COMV 11.33

-0.73 -6.05%
Volume: 176,758
Track COMV

CYT 36.81

+0.17 +0.46%
Volume: 562,950
Track CYT

JWN 35.51

+0.35 +1.00%
Volume: 3,256,808
Track JWN

VAL 27.60

+0.06 +0.22%
Volume: 502,511
Track VAL

ZLC 4.95

-0.56 -10.16%
Volume: 881,505
Track ZLC

ZZ 2.84

-0.10 -3.40%
Volume: 398,061
Track ZZ


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