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

December 11, 2008 9:53 AM EST

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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Stocks Mentioned

BRCD 5.75

-0.05 -0.86%
Volume: 2,666,474
Track BRCD

ERIC 9.66

+0.08 +0.84%
Volume: 2,251,502
Track ERIC

FDRY 16.66

+0.00 +0.00%
Volume: 14,213,618
Track FDRY

JNS 8.50

-0.15 -1.73%
Volume: 2,271,152
Track JNS

KEG 14.60

-0.13 -0.88%
Volume: 1,178,685
Track KEG

RHT 48.82

+0.85 +1.77%
Volume: 503,184
Track RHT

RTP 62.17

+0.00 +0.00%
Volume: 2,442,185
Track RTP

TEF 17.27

+0.06 +0.35%
Volume: 1,287,720
Track TEF

WW 47.52

+0.00 +0.00%
Volume: 400
Track WW


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