Notable Analyst Rating Changes 1/15: AMD, NRG, K, OMX, PRIM Upgraded; TOL, INCY, AYR, CTCM, PAYX Downgraded

January 15, 2010 10:55 AM EST

UPGRADES:
FBR Research upgrades AMD (NYSE: AMD) to Outperform. Price target increased from $9 to $12.50. Click Here for more color.

Goldman Sachs added NRG (NYSE: NRG) to the Conviction Buy List, given strong and hedged free cash flow.

BofA Merrill Lynch upgrades Kellogg (NYSE: K) from Neutral to Buy. The firm also raised its price target from $55 to $62.

J.P. Morgan upgrades Officemax (NYSE: OMX) to Overweight from Neutral, raising their price target to $20 from $13. Click Here for more color.

BB&T Capital upgrades Primoris Services (NASDAQ: PRIM) from Hold to Buy. Price target $10.

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

DOWNGRADES:
Goldman Sachs downgrades Toll Bros. (NYSE: TOL) from Buy to Neutral, and lowered their price target from $28 to $24. Click Here for more color.

UBS downgrades Incyte (NASDAQ: INCY) from Buy to Neutral. Price target $10.50.

Citi downgrades Aircastle Limited (NYSE: AYR) from Buy to Hold. Price target increased from $7.90 to $11.90.

Credit Suisse downgrades CTC Media (NASDAQ: CTCM) from Outperform to Neutral.

Janney Montgomery Scott downgrades Paychex (NASDAQ: PAYX) from Neutral to Sell. $25 price target. Click Here for more color.

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

NEW COVERAGE:
Baird initiates coverage on Regions Financial (NYSE: RF) with a Neutral rating. Price target $7.

Brean Murray initiates coverage on Rentech (NYSE: RTK) with a Buy. Price target $2.50.

Barclays initiates coverage on Western Digital (NYSE: WDC) with an Equalweight. Price target $50.

ThinkEquity initiates coverage on OPNET Technologies (Nasdaq: OPNT) with a Buy.

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

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Related Entities

• Goldman Sachs Conviction Buy List
• Credit Suisse
• Brean Murray Carret & Co.
• UBS
• JPMorgan
• Citi
• Merrill Lynch
• Robert W Baird
• Bank of America
• ThinkEquity
• Janney Montgomery Scott
• Barclays
• BB&T Capital Markets
• Notable Analyst Rating Changes

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