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 3.64

+0.00 +0.00%
Volume: 24,600
Track ALU

BBI 0.86

+0.00 +0.00%
Volume: 1,225,485
Track BBI

BDX 71.87

+0.00 +0.00%
Volume: 1,878,694
Track BDX

BTU 43.89

+0.00 +0.00%
Volume: 800
Track BTU

CVX 78.34

+0.00 +0.00%
Volume: 260
Track CVX

LTD 18.73

+0.00 +0.00%
Volume: 500
Track LTD

PTR 132.30

+0.00 +0.00%
Volume: 1,500
Track PTR

RTN 48.36

+0.00 +0.00%
Volume: 200
Track RTN

SGR 32.57

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

SYK 48.81

+0.00 +0.00%
Volume: 3,500
Track SYK

WMI 28.39

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


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