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


Related Categories

Special Reports

Stocks Mentioned

AN 17.70

+0.05 +0.28%
Volume: 3,999,898
Track AN

BA 53.72

+1.31 +2.50%
Volume: 6,358,988
Track BA

JCG 43.56

+0.77 +1.80%
Volume: 1,842,728
Track JCG

JWN 34.34

+0.89 +2.66%
Volume: 3,951,206
Track JWN

LEN 12.88

+0.21 +1.66%
Volume: 4,881,872
Track LEN

LLL 78.34

-0.03 -0.04%
Volume: 1,216,504
Track LLL

LULU 26.76

+0.59 +2.25%
Volume: 414,630
Track LULU

MGM 11.15

+0.58 +5.49%
Volume: 23,928,493
Track MGM

NOC 55.26

+0.46 +0.84%
Volume: 3,106,755
Track NOC

RTN 51.80

+0.27 +0.52%
Volume: 3,389,837
Track RTN

RTP 211.70

+7.60 +3.72%
Volume: 623,901
Track RTP

SPWRA 21.62

+0.95 +4.60%
Volume: 3,347,243
Track SPWRA

UA 26.15

+0.55 +2.15%
Volume: 661,067
Track UA


Related Entities


Add Your Comment