Notable Analyst Rating Changes 5/18: LEN, MGM, RTP, BA Upgraded; LLL, RTN, NOC, SPWRA, AN, JWN Downgraded

May 18, 2009 10:31 AM EDT

UPGRADES:
Citi upgrades Lennar (NYSE: LEN) from Hold to Buy. Price target increased from $11 to $12. Click here for more color.

JP Morgan upgrades MGM Mirage (NYSE: MGM) from Neutral to Overweight, $11 price target.

RBS upgrades Rio Tinto (NYSE: RTP) from Sell to Hold.

Goldman Sachs upgrades Boeing Co. (NYSE: BA) from Sell to Neutral and lifts its price target from $30 to $46.

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

DOWNGRADES:
Goldman Sachs downgraded the Defense Sector from Attractive to Cautious, saying a extended spending downturn in possible. The firm downgraded L-3 Communications (NYSE: LLL), Raytheon Co. (NYSE: RTN) from Buy to Neutral. Northrop Grumman Corporation (NYSE: NOC) was downgraded from Neutral to Sell and added to the Sell List.

Soleil Securities downgrades SunPower (Nasdaq: SPWRA) from Hold to Sell with a $21 price target. The firm said they believe the valuation is stretched heading into what they expect to be a very difficult environment for the PV industry over the next 12 months. Here is the full report.

Goldman Sachs downgrades AutoNation (NYSE: AN) from Neutral to Sell. Price target $14.

Goldman Sachs downgraded Nordstrom (NYSE: JWN) from Neutral to Sell. Price target $21.

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

NEW COVERAGE:
Piper Jaffray & Co. initiates coverage on J.Crew Group (NYSE: JCG) with a Buy. Price target $24. Click here for the full report.

KeyBanc initiates coverage on Under Armour (NYSE: UA) with a Hold rating. Click here for more color on the new coverage.

KeyBanc initiates coverage on lululemon athletica (Nasdaq: LULU) with a Hold. Here is the full report.

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


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Stocks Mentioned

AN 19.06

+0.50 +2.69%
Volume: 908,025
Track AN

BA 51.18

+1.50 +3.02%
Volume: 2,169,634
Track BA

JCG 42.55

+0.81 +1.94%
Volume: 1,252,722
Track JCG

JWN 34.84

+0.91 +2.68%
Volume: 3,569,698
Track JWN

LEN 14.38

+0.24 +1.70%
Volume: 2,467,417
Track LEN

LLL 77.15

+0.75 +0.98%
Volume: 729,801
Track LLL

LULU 26.91

+1.03 +3.98%
Volume: 273,765
Track LULU

MGM 10.30

+0.55 +5.64%
Volume: 18,754,597
Track MGM

NOC 53.76

+1.39 +2.65%
Volume: 1,706,484
Track NOC

RTN 48.04

+0.47 +0.99%
Volume: 1,168,101
Track RTN

RTP 203.75

+10.42 +5.39%
Volume: 550,342
Track RTP

SPWRA 27.24

+0.64 +2.41%
Volume: 712,596
Track SPWRA

UA 28.00

+0.24 +0.86%
Volume: 196,683
Track UA


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