Notable Analyst Rating Changes 10/16: GSK, ADM, APC, WFC Upgraded; STM, DO, EBAY, MDU Downgraded

October 16, 2008 10:06 AM EDT

UPGRADES:
Merrill Lynch upgrades GlaxoSmithKline (NYSE: GSK) from Underperform to Neutral.

Merrill Lynch upgrades Archer-Daniels Midland (NYSE: ADM) from Neutral to Buy.

Jefferies & Co upgrades Anadarko Petroleum (NYSE: APC) from Hold to Buy.

Morgan Stanley upgrades Wells Fargo (NYSE: WFC) from Underweight to Overweight with a $40 price target.

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

DOWNGRADES:
Credit Suisse downgrades STMicroelectronics (NYSE: STM) from Neutral to Underperform.

Morgan Keegan downgrades Diamond Offshore (NYSE: DO) from Outperform to Market Perform.

Piper Jaffray downgrades eBay (Nasdaq: EBAY) from Buy to Neutral, following disappointing results and guidance.

Citi downgrades MDU Resources Group (NYSE: MDU) from Buy to Hold. Price target lowered from $39 to $23

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

NEW COVERAGE:
Caris & Co. initiates coverage on Procter & Gamble (NYSE: PG) with an Above Average rating.

Lazard Capital initiates coverage on McAfee (NYSE: MFE) with a Buy rating.

Cowen & Co initiates coverage on Aeropostale (NYSE: ARO) with an Outperform.

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


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Stocks Mentioned

ADM 28.76

+1.21 +4.39%
Volume: 440,318
Track ADM

APC 27.53

-17.15 -38.38%
Volume: 440,005
Track APC

ARO 28.70

-6.50 -18.47%
Volume: 430,977
Track ARO

DO 28.76

-53.09 -64.86%
Volume: 441,258
Track DO

EBAY 16.34

-0.44 -2.62%
Volume: 14,151,498
Track EBAY

GSK 28.70

-7.34 -20.37%
Volume: 445,783
Track GSK

MDU 27.55

+8.39 +43.79%
Volume: 450,789
Track MDU

MFE 29.86

-11.85 -28.41%
Volume: 435,952
Track MFE

PG 28.74

-23.26 -44.73%
Volume: 446,531
Track PG

STM 26.29

+18.61 +242.32%
Volume: 448,180
Track STM

WFC 29.98

+5.84 +24.19%
Volume: 432,484
Track WFC


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