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 3.76

+0.12 +3.30%
Volume: 16,005,429
Track ALU

DIS 29.29

+0.17 +0.58%
Volume: 11,552,297
Track DIS

DSTI 0.32

-0.02 -5.88%
Volume: 285,346
Track DSTI

FCX 82.94

+0.37 +0.45%
Volume: 14,300,956
Track FCX

FRX 28.89

+0.03 +0.10%
Volume: 1,276,758
Track FRX

FSLR 119.85

-0.05 -0.04%
Volume: 2,032,882
Track FSLR

HOG 26.84

-0.14 -0.52%
Volume: 2,522,916
Track HOG

IBM 127.19

+0.28 +0.22%
Volume: 6,531,268
Track IBM

IPG 6.87

+0.17 +2.54%
Volume: 4,932,639
Track IPG

NOK 13.71

+0.26 +1.93%
Volume: 18,851,705
Track NOK

SPWR 60.75

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

SPWRA 27.30

+0.11 +0.40%
Volume: 785,309
Track SPWRA

TU 29.95

-0.27 -0.89%
Volume: 97,476
Track TU


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