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Notable Analyst Rating Changes 12/11: RTP, TEF, WW Upgraded; JNS, FDRY, ERIC Downgraded

December 11, 2008 9:53 AM EST
RTP Hot Sheet
Overall Analyst Rating:
    BUY (Up Up)
UPGRADES:
Deutsche Bank upgrades Rio Tinto (NYSE: RTP) to Buy. Price target increased to $52.85 from $42.

Credit Suisse upgrades Telefonica (NYSE: TEF) from Neutral to Outperform.

Deutsche Bank upgrades Watson Wyatt (NYSE: WW) to Buy. Price target increased from $45 to $50.

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

DOWNGRADES:
Merrill Lynch downgrades Janus Capital (NYSE: JNS) from Neutral to Underperform.

Jefferies & Co downgrades Foundry Networks (Nasdaq: FDRY) to Hold.

Merrill Lynch downgrades Ericsson (Nasdaq: ERIC) from Buy to Underperform.

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

NEW COVERAGE:
UBS initiates coverage on Key Energy Services Inc. (NYSE: KEG) with a Neutral rating and $5.50 price target.

Cantor Fitzgerald initiates coverage on Red Hat Inc. (NYSE: RHT) with a Hold. Price target $15.

Jefferies & Co initiates coverage on Brocade Communications (Nasdaq: BRCD) with a Hold.

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

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Credit Suisse, Deutsche Bank, UBS, Cantor Fitzgerald, Jefferies & Co, Merrill Lynch, Janus Capital, Notable Analyst Rating Changes

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