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 34.25

-1.70 -4.73%
Volume: 1,987,113
Track CMI

COST 44.64

-1.15 -2.51%
Volume: 4,920,606
Track COST

CS 26.34

-19.36 -42.36%
Volume: 452,648
Track CS

CSX 27.59

-7.04 -20.33%
Volume: 442,390
Track CSX

GILD 45.90

-0.93 -1.99%
Volume: 6,900,563
Track GILD

KFT 25.96

-0.65 -2.44%
Volume: 10,720,753
Track KFT

SCG 25.18

-7.78 -23.60%
Volume: 436,167
Track SCG

SGP 27.54

+2.32 +9.20%
Volume: 442,477
Track SGP

TJX 25.15

-6.12 -19.57%
Volume: 441,819
Track TJX

URBN 19.85

-0.84 -4.06%
Volume: 4,375,094
Track URBN

WAG 27.55

-1.79 -6.10%
Volume: 440,403
Track WAG


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