Notable Analyst Rating Changes 05/03: TSO, PNK, IM, CLH Upgraded; GS, PBR, ENP, VMC Downgraded

May 3, 2010 10:42 AM EDT
Bank of America/Merrill Lynch upgrades Tesoro Corporation (NYSE: TSO) from Neutral to Buy.

Janney Montgomery Scott upgrades Pinnacle Entertainment (NYSE: PNK) from Neutral to Buy. Click Here for more color.

Goldman Sachs upgrades Ingram Micro Inc. (NYSE: IM) from Neutral to Buy and raised their price target form $20 to $24.

Credit Suisse upgrades Clean Harbors (NYSE: CLH) from Neutral to Outperform. Price target from $68 to $74.

For daily real-time Upgrades go to

Keefe, Bruyette and Woods downgrades Goldman Sachs (NYSE: GS) to Market Perform from Outperform. Click Here for more color.

J.P. Morgan downgrades Petroleo Brasileiro (NYSE: PBR) from Overweight to Neutral.

Raymond James downgrades Encore Energy Partners (NYSE: ENP) from Outperform to Underperform.

UBS downgrades Vulcan Materials (NYSE: VMC) from Buy to Neutral. Price target increased from $62 to $54.

For daily real-time Downgrades go to

Piper Jaffray initiates coverage on McDonald's (NYSE: MCD) with an Overweight rating and an $85 price target. Click Here for more color.

BofA/Merrill Lynch reinstates coverage on Public Service Enterprise Group (NYSE: PEG) with a Buy rating.

Longbow Research initiates coverage on Fortune Brands (NYSE: FO) with a Neutral.

Calix Networks, Inc. (Nasdaq: CALX) initiated by two firms:
  • Goldman Sachs starts at Buy. Click Here for more color;

  • UBS initiates coverage on Calix Networks (Nasdaq: CALX) with a Buy rating, price target of $14.50.
For daily real-time New Coverage go to

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Credit Suisse, Piper Jaffray, UBS, JPMorgan, Raymond James, Merrill Lynch, Bank of America, Janney Montgomery Scott, Longbow Research, Notable Analyst Rating Changes

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