Notable Analyst Rating Changes 10/27: CHL, PEP, TROW Upgraded; NCC, X, NT, CAT Downgraded

October 27, 2008 9:53 AM EDT

UPGRADES:
J.P. Morgan upgrades China Mobile Ltd (NYSE: CHL) from Underweight to Neutral.

Deutsche Bank upgrades PepsiCo (NYSE: PEP) to Buy. Price target $65.

Wachovia and KBW upgrade T. Rowe Price (Nasdaq: TROW) to Outperform.

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

DOWNGRADES:
Citi downgrades National City Corp (NYSE: NCC) from Buy to Hold, removes from Tops Picks List.

UBS downgrades U.S. Steel (NYXE: X) from Buy to Sell, citing concerns about earnings due to high fixed costs as steel prices fall. UBS lowered its price target on U.S. Steel from $60 to $30.

UBS downgrades Nortel (NYSE: NT) from Buy to Neutral. The firm cut its price target from $3.25 to $1.30.

Merrill Lynch downgrades Caterpillar (NYSE: CAT) from Buy to Neutral.

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


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Stocks Mentioned

CAT 58.30

+0.10 +0.17%
Volume: 10,448,305
Track CAT

CHL 47.88

+0.48 +1.01%
Volume: 1,535,608
Track CHL

NCC 1.81

+0.00 +0.00%
Volume: 106,343,355
Track NCC

NT 0.32

+0.00 +0.00%
Volume: 12,591,715
Track NT

PEP 63.85

+1.09 +1.74%
Volume: 8,906,912
Track PEP

TROW 49.73

+0.32 +0.65%
Volume: 2,331,405
Track TROW


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