Notable Analyst Rating Changes 1/22: BBY, AAP, ERIC, M Upgraded; DOX, MRVL, K, WYE Downgraded

January 22, 2009 10:05 AM EST

UPGRADES:
Deutsche Bank upgraded Best Buy (NYSE: BBY) today from Hold to Buy and boosted its price target from $28 to $40. Click here for the full report.

J.P. Morgan upgrades Advance Auto Parts (NYSE: AAP) from Neutral to Overweight.

Goldman Sachs upgrades LM Ericsson (Nasdaq: ERIC) from Sell to Neutral.

Deutsche Bank upgrades Macy's (NYSE: M) to Buy. Price target increased from $8 to $14. Click here for the full report.

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

DOWNGRADES:
Cantor Fitzgerald downgrades Amdocs (NYSE: DOX) from Buy to Hold. Price target dropped from $26 to $16. Click here for the full report.

BWS Financial downgrades Marvell Technology (Nasdaq: MRVL) from Strong Buy to Buy. Price target lowered to $8 from $11.50. Click here for the report.

Citi downgrades Kellogg (NYSE: K) from Buy to Hold on Weakening Trends and FX Headwinds. Price target lowered from $57 to $48. Click here for the full report.

UBS downgrades Wyeth (NYSE: WYE) from Buy to Neutral. Price target $38.

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

NEW COVERAGE:
Oppenheimer initiates coverage on Ligand Pharmaceuticals (Nasdaq: LGND) with an Outperform.

Wunderlich Securities initiates coverage on First Horizon National (NYSE: FHN) with a Buy. Price target $11.

RBC Capital initiates coverage on Elan (NYSE: ELN) with a Underperform rating and $4 price target.

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


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Stocks Mentioned

AAP 39.45

-0.02 -0.05%
Volume: 767,181
Track AAP

BBY 42.83

-0.43 -0.99%
Volume: 3,036,999
Track BBY

DOX 26.34

-0.76 -2.80%
Volume: 341,388
Track DOX

ELN 6.27

-0.11 -1.72%
Volume: 1,363,467
Track ELN

ERIC 9.86

-0.28 -2.76%
Volume: 5,046,788
Track ERIC

FHN 13.22

-0.31 -2.29%
Volume: 1,547,787
Track FHN

K 52.97

-0.69 -1.29%
Volume: 956,523
Track K

LGND 1.94

-0.08 -3.96%
Volume: 319,959
Track LGND

M 16.97

-0.59 -3.36%
Volume: 8,015,100
Track M

MRVL 15.63

-0.27 -1.70%
Volume: 3,157,421
Track MRVL

WYE 50.39

+0.00 +0.00%
Volume: 50,253,011
Track WYE


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