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Notable Analyst Rating Changes 02/24: XCO, FPL, SLXP, EOG, ADSK Upgraded; STEC, APA, KND Downgraded


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February 24, 2010 10:49 AM EST
UPGRADES
Goldman Sachs adds EXCO (NYSE: XCO) to Conviction Buy List. Click Here for more color.

Credit Suisse upgrades FPL Group (NYSE: FPL) from Neutral to Outperform.

BMO Capital upgrades Salix Pharmaceuticals (NASDAQ: SLXP) from Market Perform to Outperform with a price target increased from $23 to $40.

Goldman Sachs upgraded EOG Resources (NYSE: EOG) from Neutral to Buy. Click Here for more color.

Needham & Company is upgrading Autodesk (NASDAQ: ADSK) from Hold to Buy with a $31 price target.

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

DOWNGRADES
In a ratings bonanza, STEC, Inc. (NASDAQ: STEC) gets a downgrade from several firms:
  • J.P. Morgan downgrades to Neutral from Overweight, and cuts their price target from $42 to $12.50;
  • Deutsche Bank downgrades from Buy to Hold, with a reduced price target of $10 from $36. Click Here for more color.
  • Thomas Weisel downgrades to Marketweight from Overweight and reduces their price target to $8 from $31;
  • Pacific Crest Securities downgrades from Outperform to Sector Perform.
Goldman Sachs is downgrading Apache Corp. (NYSE: APA) from Buy to Neutral with a $128 price target.

RBC Capital downgrades Kindred Healthcare (NYSE: KND) from Outperform to Sector Perform.

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

NEW COVERAGE
Goldman Sachs is removing the Not Rated designation on Bucyrus (NASDAQ: BUCY) and adding the stock to their Americas Buy List with an $80 price target. Click Here for more color.

Janney Montgomery Scott initiates coverage on Time Warner, Inc. (NYSE: TWX) with a Buy rating. Price target $33.50. Click Here for more color.

Goldman Sachs reinstates coverage on Terex (NYSE: TEX) with a Neutral and $24 price target. Click Here for more color.

Stifel Nicolaus has resumed coverage on several stocks in the Semi sector:
  • Broadcom (NASDAQ: BRCM) with a Buy rating and $38 price target
  • Marvell (NASDAQ: MRVL) with a Buy rating and $26 price target
  • Altera (NASDAQ: ALTR) with a Buy rating and $30 price target
  • Xilinx (NASDAQ: XLNX) with a Neutral rating.
Deutsche Bank initiates coverage on TECO Energy (NYSE: TE) with a Sell rating and $13.50 price target. Click Here for more color.

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

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Goldman Sachs Conviction Buy List, Credit Suisse, Stifel Nicolaus, Deutsche Bank, JPMorgan, Needham & Company, BMO Capital, RBC Capital, Janney Montgomery Scott, Thomas Weisel Partners Group, Pacific Crest Securities, Notable Analyst Rating Changes

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