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 32.61

+0.00 +0.00%
Volume: 6,204,562
Track ADM

APC 65.44

+0.00 +0.00%
Volume: 3,676,021
Track APC

ARO 33.74

+0.00 +0.00%
Volume: 3,215,435
Track ARO

DO 100.52

+0.00 +0.00%
Volume: 1,520,046
Track DO

EBAY 23.43

+0.00 +0.00%
Volume: 12,590,892
Track EBAY

GSK 41.35

+0.00 +0.00%
Volume: 1,256,083
Track GSK

MDU 22.17

+0.00 +0.00%
Volume: 771,985
Track MDU

MFE 43.18

+0.00 +0.00%
Volume: 1,400,338
Track MFE

PG 61.86

+0.00 +0.00%
Volume: 15,118,803
Track PG

STM 8.42

+0.00 +0.00%
Volume: 1,876,194
Track STM

WFC 28.10

+0.00 +0.00%
Volume: 35,216,693
Track WFC


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