Notable Analyst Rating Changes 5/6: WB, AGU, HES, SLM Upgraded; PCU, PTR, SUN, VLO Downgraded

May 6, 2008 9:54 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Stifel Nicolaus upgrades Wachovia (NYSE: WB) from Hold to Buy with a $40 price target.

RBC Capital upgrades Agrium (NYSE: AGU) from Sector Perform to Outperform. Price target $115.

Goldman Sachs upgrades Hess Corporation (NYSE: HES) from Neutral to Buy.

Lehman Bros. upgrades SLM (NYSE: SLM) from Equalweight to Overweight, citing more positive outlook from recently passed bill (in Gov't). Price target increased from $27 to $30.

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

DOWNGRADES:
HSBC downgrades Southern Copper (NYSE: PCU) from Overweight to Neutral.

Goldman Sachs removes PetroChina Co. Ltd. (NYSE: PTR) from their Asia Pacific Buy List and adds the stock to their Asia Pacific Sell List. Price target on PetroChina A-shares cut 32% to 13.2 Yuan. Price target on PetroChina H-shares cut 24% to HK$10.70.

Goldman Sachs and J.P. Morgan downgrades Sunoco (NYSE: SUN) from Buy to Neutral and from Neutral to Underweight, respectively.

J.P. Morgan downgrades Valero (NYSE: VLO) from Overweight to Neutral.

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

NEW COVERAGE:Caris & Co initiates coverage on Newell Rubbermaid (NYSE: NWL) with an Average, citing highest commodity cost exposures in its sector. Price target $24.

Sanford C. Bernstein initiates coverage on AutoZone (NYSE: AZO) with an Outperform. Price target $155.

Jesup & Lamont initiates coverage on Suntech Power (NYSE: STP) with a Buy rating and $64 price target.

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


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Stocks Mentioned

AGU 97.00

-2.75 -2.76%
Volume: 6,295,556
Track AGU

AZO 120.18

+1.73 +1.46%
Volume: 695,579
Track AZO

HES 119.54

-0.44 -0.37%
Volume: 2,479,632
Track HES

NWL 16.14

+0.01 +0.06%
Volume: 2,806,547
Track NWL

PCU 100.95

-0.59 -0.58%
Volume: 1,808,623
Track PCU

PTR 123.89

+1.40 +1.14%
Volume: 822,349
Track PTR

SLM 18.45

-0.37 -1.97%
Volume: 3,325,785
Track SLM

STP 34.51

+1.32 +3.98%
Volume: 3,357,971
Track STP

SUN 39.69

-1.21 -2.96%
Volume: 2,880,641
Track SUN

VLO 37.09

-0.83 -2.19%
Volume: 9,497,043
Track VLO

WB 14.88

-0.50 -3.25%
Volume: 33,164,334
Track WB


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