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 8.99

-0.12 -1.32%
Volume: 6,685,512
Track BRCD

ERIC 10.24

-0.14 -1.35%
Volume: 12,704,507
Track ERIC

FDRY 16.66

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

JNS 13.32

+0.06 +0.45%
Volume: 2,476,291
Track JNS

KEG 7.70

-0.13 -1.66%
Volume: 878,437
Track KEG

RHT 27.59

+0.03 +0.11%
Volume: 1,424,067
Track RHT

RTP 193.33

+2.76 +1.45%
Volume: 873,917
Track RTP

TEF 83.40

-2.29 -2.67%
Volume: 733,822
Track TEF

WW 44.31

-0.30 -0.67%
Volume: 349,699
Track WW


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