Notable Analyst Rating Changes 10/07: NOK, ALU, FCX, TU Upgraded; FSLR, SPWR, DIS, IBM, FRX Downgraded

October 7, 2008 9:51 AM EDT

UPGRADES:
Morgan Stanley upgrades Nokia (NYSE: NOK) and Alcatel-Lucent (NYSE: ALU) to Overweight, citing valuation after recent stock declines.

Friedman Billings upgrades Freeport-McMoRan (NYSE: FCX) from Market Perform to Outperform but lowered their price target from $115 to $85 price target, citing valuation.

UBS upgrades TELUS Corporation (NYSE: TU) from Neutral to Buy.

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

DOWNGRADES:
Goldman Sachs downgrades First Solar (Nasdaq: FSLR) from Buy to Sell.

Goldman Sachs downgrades SunPower Corporation (Nasdaq: SPWRA) (Nasdaq: SPWR) from Buy to Sell.

Merrill Lynch downgraded Walt Disney (NYSE: DIS) from Neutral to Underperform

Barclays Capital downgrades IBM (NYSE: IBM) from Overweight to Equal Weight and lowers its price target from $130 to $108

JPMorgan downgrades Forest Laboratories Inc. (NYSE: FRX) from Neutral to Underweight.

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

NEW COVERAGE:
Cantor Fitzgerald initiates coverage on DayStar Technologies, Inc. (Nasdaq: DSTI) with a Buy. Price target $5.

JP Morgan initiates coverage on Harley-Davidson, Inc. (NYSE: HOG) with a Neutral rating.

Morgan Stanley initates coverage on Interpublic Group of Companies Inc. (NYSE: IPG) with an Underweight rating.

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


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Stocks Mentioned

ALU 29.97

+27.54 +1,133.33%
Volume: 449,629
Track ALU

DIS 25.19

+1.74 +7.42%
Volume: 436,193
Track DIS

DSTI 0.79

+0.03 +3.95%
Volume: 272,825
Track DSTI

FCX 29.87

-20.70 -40.93%
Volume: 446,558
Track FCX

FRX 26.25

+1.02 +4.04%
Volume: 440,897
Track FRX

FSLR 154.20

-1.09 -0.70%
Volume: 3,340,531
Track FSLR

HOG 15.58

-0.83 -5.06%
Volume: 4,999,003
Track HOG

IBM 101.73

-3.11 -2.97%
Volume: 7,027,779
Track IBM

IPG 4.86

-0.22 -4.33%
Volume: 4,083,153
Track IPG

NOK 25.16

+10.39 +70.35%
Volume: 447,201
Track NOK

SPWR 60.75

+0.00 +0.00%
Volume: 3,741,039
Track SPWR

SPWRA 26.23

-0.83 -3.07%
Volume: 2,096,507
Track SPWRA

TU 26.24

+0.38 +1.47%
Volume: 442,621
Track TU


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