Notable Analyst Rating Changes 6/23: BHP, ETFC, SIRI, FDX, UPS Upgraded; MRVL, PKI, BPI Downgraded

June 23, 2009 10:08 AM EDT

UPGRADES:
Citi upgrades BHP Billiton (NYSE: BHP) from Hold to Buy.

FBR Capital upgrades E*Trade Financial (Nasdaq: ETFC) two-notches from Underperform to Outperform, citing a more attractive risk/reward following the recent capital raise and commencement of its debt exchange offer yesterday.

Barrington upgrades Sirius XM Radio (Nasdaq: SIRI) from Market Perform to Outperform.

JP Morgan upgrades FedEx (NYSE: FDX) from Neutral to Overweight.

Jesup & Lamont upgrades United Parcel Service (NYSE: UPS) from Hold to Buy. Click here to see more color on the upgrade.

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

DOWNGRADES:
Deutsche Bank downgrades Marvell Technology (Nasdaq: MRVL) from Buy to Hold and maintains its $13 price target, citing valuation. Click here for the full report.

Barclays downgrades PerkinElmer (NYSE: PKI) from Equalweight to Underweight.

Credit Suisse downgrades Bridgepoint Education (NYSE: BPI) from Outperform to Neutral.

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

NEW COVERAGE:
Morgan Joseph initiates coverage on Raytheon Company (NYSE: RTN) with a Buy rating and $55 price target.

Morgan Stanley initiates coverage on Waste Management (NYSE: WMI) with an Equalweight rating.

Susquehanna initiates coverage on Loews Corporation (NYSE: L) with a Positive rating. Price target $33. Click here to see full color.

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


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Stocks Mentioned

BHP 71.54

+3.58 +5.27%
Volume: 4,494,861
Track BHP

BPI 15.95

+0.02 +0.13%
Volume: 534,360
Track BPI

ETFC 1.57

+0.02 +1.29%
Volume: 29,168,595
Track ETFC

FDX 81.19

+4.07 +5.28%
Volume: 3,996,008
Track FDX

L 35.47

+0.87 +2.51%
Volume: 1,460,830
Track L

MRVL 15.21

+0.48 +3.26%
Volume: 8,120,135
Track MRVL

PKI 19.44

+0.50 +2.64%
Volume: 907,306
Track PKI

RTN 48.15

+0.58 +1.22%
Volume: 2,391,370
Track RTN

SIRI 0.63

+0.00 +0.00%
Volume: 24,964,421
Track SIRI

UPS 56.21

+1.35 +2.46%
Volume: 4,517,581
Track UPS

WMI 28.39

-0.18 -0.63%
Volume: 1,276,223
Track WMI


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