Notable Analyst Rating Changes 1/5: AMZN, BBY, BKS Upgraded; T, VZ, PCU, BBBY Downgraded

January 5, 2009 9:51 AM EST

UPGRADES:
JP Morgan upgrades Amazon.com Inc. (Nasdaq: AMZN) from Neutral to Overweight, saying the company will continue to gain market share.

Goldman Sachs upgrades Best Buy Co. Inc. (NYSE: BBY) from Neutral to Buy.

Goldman Sachs upgrades Barnes & Noble (NYSE: BKS) from Sell to Neutral but trims its price target from $24 to $17.

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

DOWNGRADES:
Sanford C. Bernstein downgraded AT&T (NYSE: T) from Outperform to Market Perform and downgraded Verizon (NYSE: VZ) from Market Perform to Underperform.

Citi downgrades Southern Copper Company (NYSE: PCU) from Buy to Hold.

Goldman Sachs downgrades Bed Bath & Beyond (Nasdaq: BBBY) from Buy to Neutral but lifted their price target from $24 to $28.

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

NEW COVERAGE:
Merriman resumes coverage on Capstone Turbine (Nasdaq: CPST) with a Neutral rating.

Leerink Swann initiates coverage on Momenta Pharmaceuticals (Nasdaq: MNTA) with an Outperform rating.

Wachovia initiates coverage on NCI (NASDAQ: NCIT) with a Market Perform rating and a $27 to $29 valuation range.

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


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Stocks Mentioned

AMZN 79.32

-2.28 -2.79%
Volume: 7,219,034
Track AMZN

BBBY 29.66

-1.10 -3.58%
Volume: 4,076,374
Track BBBY

BBY 27.44

-6.56 -19.29%
Volume: 433,614
Track BBY

BKS 25.15

+4.13 +19.65%
Volume: 442,064
Track BKS

CPST 0.83

+0.00 +0.00%
Volume: 2,045,754
Track CPST

MNTA 11.85

-0.09 -0.75%
Volume: 311,379
Track MNTA

NCIT 29.67

-1.01 -3.29%
Volume: 85,554
Track NCIT

PCU 26.32

+5.94 +29.15%
Volume: 452,407
Track PCU

T 26.33

+1.26 +5.03%
Volume: 449,094
Track T

VZ 28.71

-2.11 -6.85%
Volume: 440,624
Track VZ


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