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 8.24

-0.11 -1.32%
Volume: 719,231
Track ARM

BIDU 431.21

-3.51 -0.81%
Volume: 919,755
Track BIDU

C 4.07

-0.03 -0.73%
Volume: 297,263,554
Track C

CCL 32.91

+0.20 +0.61%
Volume: 3,809,606
Track CCL

CIEN 12.21

-0.67 -5.20%
Volume: 10,516,757
Track CIEN

FRO 28.78

+0.54 +1.91%
Volume: 772,044
Track FRO

LDK 8.50

+0.05 +0.59%
Volume: 3,143,858
Track LDK

PCLN 221.99

+3.96 +1.82%
Volume: 1,293,099
Track PCLN

RFMD 5.05

+0.06 +1.20%
Volume: 7,632,986
Track RFMD

SPWRA 22.67

+1.14 +5.29%
Volume: 2,538,808
Track SPWRA

VMW 42.37

+0.29 +0.69%
Volume: 833,338
Track VMW


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