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 9.18

+0.49 +5.64%
Volume: 2,628,672
Track ARM

BIDU 423.60

-2.27 -0.53%
Volume: 896,251
Track BIDU

C 4.18

-0.01 -0.24%
Volume: 171,962,902
Track C

CCL 31.34

-0.58 -1.82%
Volume: 2,398,011
Track CCL

CIEN 12.22

-0.24 -1.93%
Volume: 1,651,260
Track CIEN

FRO 23.64

-0.40 -1.66%
Volume: 224,409
Track FRO

LDK 5.85

-0.06 -1.02%
Volume: 1,549,774
Track LDK

PCLN 203.01

+29.28 +16.85%
Volume: 6,688,488
Track PCLN

RFMD 4.17

-0.07 -1.65%
Volume: 3,275,653
Track RFMD

SPWRA 27.12

-0.33 -1.20%
Volume: 729,647
Track SPWRA

VMW 41.11

+0.05 +0.12%
Volume: 948,172
Track VMW


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