Notable Analyst Rating Changes 1/9: BDX, SGR, CVX, RTN Upgraded; LTD, SYK, ALU, PTR Downgraded

January 9, 2009 9:43 AM EST

UPGRADES:
Morgan Stanley upgrades Becton Dickinson (NYSE: BDX) from Equal Weight to Overweight.

Citi upgrades Shaw Group Inc (NYSE: SGR) from Sell to Hold. Price target increased from $16 to $28.

J.P. Morgan upgrades Chevron (NYSE: CVX) from Neutral to Overweight.

Goldman Sachs upgrades Raytheon (NYSE: RTN) from Neutral to Buy.

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

DOWNGRADES:
Merrill Lynch downgrades Limited Brands Inc. (NYSE: LTD) from Neutral to Underperform and trims its price target from $11 to $8.

Morgan Stanley downgrades Stryker (NYSE: SYK) from Equal Weight to Underweight, citing lower sales and profit due to weakening fundamentals.

Morgan Stanley downgrades Alcatel-Lucent (NYSE: ALU) from Overweight to Equal Weight, citing faster than expected market deterioratins.

J.P. Morgan downgrades PetroChina (NYSE: PTR) from Overweight to Neutral.

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

NEW COVERAGE:
Roth Capital initiates coverage on Blockbuster (NYSE: BBI) with a Buy. Price target $5.

Wunderlich Securities initiates coverage on Waste Management (NYSE: WMI) with a Buy. Price target $40.

Citi initiates coverage on Peabody Energy (NYSE: BTU) with a Buy. Price target $34.

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


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Stocks Mentioned

ALU 3.43

+0.02 +0.59%
Volume: 7,235,457
Track ALU

BBI 0.63

+0.01 +1.61%
Volume: 1,336,498
Track BBI

BDX 78.05

+0.74 +0.96%
Volume: 2,034,738
Track BDX

BTU 42.85

-1.36 -3.08%
Volume: 7,612,635
Track BTU

CVX 78.07

+0.11 +0.14%
Volume: 9,971,428
Track CVX

LTD 18.32

+0.17 +0.94%
Volume: 5,700,518
Track LTD

PTR 127.86

+1.08 +0.85%
Volume: 507,328
Track PTR

RTN 52.65

+1.11 +2.15%
Volume: 3,486,427
Track RTN

SGR 32.57

+0.00 +0.00%
Volume: 1,350,683
Track SGR

SYK 51.81

-0.09 -0.17%
Volume: 1,840,812
Track SYK

WMI 28.39

-0.18 -0.63%
Volume: 1,276,223
Track WMI


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