Notable Analyst Rating Changes 10/3: COST, CS, CSX, URBN Upgraded; CMI, WAG, SGP, SCG Downgraded

October 3, 2008 10:10 AM EDT

UPGRADES:
Goldman Sachs upgrades Costco (Nasdaq: COST) from Neutral to Buy and adds the stock to its Conviction Buy List, citing valuation and market share gains as the economy falters.

Goldman Sachs upgrades Credit Suisse Group (NYSE: CS) from Neutral to Buy and added the stock to their Conviction Buy List.

JP Morgan upgrades CSX Corp. (NYSE: CSX) from Neutral to Overweight.

DA Davidson upgrades Urban Outfitters (Nasdaq: URBN) from Neutral to Buy.

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

DOWNGRADES:
Wachovia downgrades Cummins Inc. (NYSE: CMI) to Market Perform and lowering valuation range to $43-46 from $83-86.

Morgan Stanley downgrades Walgreen (NYSE: WAG) from Overweight to Equalweight.

Merrill Lynch downgrades Schering-Plough (NYSE: SGP) from Buy to Underperform

Merrill Lynch downgrades SCANA (NYSE: SCG) from Neutral to Underperform.

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

NEW COVERAGE:
Merrill Lynch resumes coverage on Gilead Sciences (Nasdaq: GILD) with a Neutral.

Jefferies & Co. initiates coverage on The TJX Companies (NYSE: TJX) with a Buy rating.

Banc of America initiates coverage on Kraft Foods (NYSE: KFT) with a Buy rating.

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


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Stocks Mentioned

CMI 47.39

+0.45 +0.96%
Volume: 1,698,384
Track CMI

COST 60.40

+0.36 +0.60%
Volume: 3,156,452
Track COST

CS 56.10

-0.68 -1.20%
Volume: 974,418
Track CS

CSX 48.22

+0.47 +0.98%
Volume: 3,079,378
Track CSX

GILD 47.14

+0.33 +0.70%
Volume: 6,136,542
Track GILD

KFT 26.82

+0.02 +0.07%
Volume: 7,371,880
Track KFT

SCG 34.69

-0.26 -0.74%
Volume: 853,435
Track SCG

SGP 28.15

+0.00 +0.00%
Volume: 90,956,831
Track SGP

TJX 39.14

-0.04 -0.10%
Volume: 3,500,781
Track TJX

URBN 32.27

-0.50 -1.53%
Volume: 3,859,759
Track URBN

WAG 39.36

-0.24 -0.61%
Volume: 6,849,408
Track WAG


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