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 29.97

+27.54 +1,133.33%
Volume: 449,629
Track ALU

BBI 29.96

+29.28 +4,305.88%
Volume: 440,483
Track BBI

BDX 28.78

-41.92 -59.29%
Volume: 441,154
Track BDX

BTU 29.97

-0.05 -0.17%
Volume: 444,045
Track BTU

CVX 26.37

-40.15 -60.36%
Volume: 447,419
Track CVX

LTD 11.57

-0.72 -5.86%
Volume: 4,013,022
Track LTD

PTR 28.73

-83.94 -74.50%
Volume: 437,978
Track PTR

RTN 25.01

-19.88 -44.29%
Volume: 442,648
Track RTN

SGR 25.15

-2.04 -7.50%
Volume: 447,175
Track SGR

SYK 27.51

-12.24 -30.79%
Volume: 440,278
Track SYK

WMI 28.70

+0.67 +2.39%
Volume: 439,511
Track WMI


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