Notable Analyst Rating Changes 10/05: WFC, COP, GD, RIMM, BBT, UCTT Upgraded; AMD, VLO, AMAG, PAY Downgraded

October 5, 2009 10:59 AM EDT

UPGRADES:
Goldman Sachs upgraded Wells Fargo (NYSE: WFC) from Neutral to Buy and raised their price target from $31 to $35, saying the company is the big winner this cycle on change in tangible assets per share.

Deutsche Bank upgrades ConocoPhillips (NYSE: COP) to Buy. Price target $55. Click here for the full report.

Morgan Stanley upgrades General Dynamics (NYSE: GD) from Equal Weight to Overweight.

Needham & Co. upgrades Research In Motion (Nasdaq: RIMM) from Hold to Buy. The firm set an $85 price target.

Morgan Keegan upgrades BB&T Corp. (NYSE: BBT) from Market Perform to Outperform.

Needham & Co upgrades Ultra Clean Holdings (Nasdaq: UCTT) to Buy from Hold. Price target $8.

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

DOWNGRADES:
FBR Research downgrades Advanced Micro (NYSE: AMD) to Market Perform. Price target $6. Click here to see the full report.

Deutsche Bank downgrades Valero Energy (NYSE: VLO) to Sell.

Jefferies & Co downgrades AMAG Pharmaceuticals (Nasdaq: AMAG) from Buy to Hold.

Wedbush Morgan downgrades VeriFone (NYSE: PAY) from Neutral to Underperform. Price target $12. Click here for more color on the downgrade.

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

NEW COVERAGE:
HSBC initiates coverage on ArcelorMittal (NYSE: MT) with an Overweight. Price target $46.

Bank of America initiates coverage on Sybase (NYSE: SY) with a Buy. Price target $45.

SunTrust initiates coverage on Wendy's (NYSE: WEN) with a Buy. Price target $6.

Brigantine Advisors initiates coverage on Texas Instruments (NYSE: TXN) with a Hold.

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


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Stocks Mentioned

AMAG 37.80

-0.59 -1.54%
Volume: 248,304
Track AMAG

AMD 6.85

-0.26 -3.66%
Volume: 16,185,078
Track AMD

BBT 24.26

-0.73 -2.92%
Volume: 3,350,050
Track BBT

COP 51.92

-0.98 -1.85%
Volume: 5,257,102
Track COP

GD 67.08

-1.05 -1.54%
Volume: 1,064,671
Track GD

MT 38.60

-1.26 -3.16%
Volume: 2,646,747
Track MT

PAY 13.28

-0.40 -2.92%
Volume: 302,961
Track PAY

RIMM 58.14

-1.62 -2.71%
Volume: 7,265,717
Track RIMM

SY 40.47

-0.97 -2.34%
Volume: 293,981
Track SY

TXN 25.25

-0.17 -0.67%
Volume: 7,278,409
Track TXN

UCTT 6.08

-0.12 -1.94%
Volume: 3,500
Track UCTT

VLO 16.00

-0.35 -2.14%
Volume: 5,911,615
Track VLO

WEN 4.07

-0.09 -2.16%
Volume: 1,497,967
Track WEN

WFC 27.14

-0.69 -2.48%
Volume: 23,176,724
Track WFC


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