Notable Analyst Rating Changes 4/22: BRLC, NCC, MHS Upgraded; BEE, BJS, UNH, ACN Downgraded

April 22, 2008 9:49 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Baird upgrades Syntax-Brillian (Nasdaq: BRLC) from Neutral to Outperform, citing Compal deal and cost cuttting measures recently announced. Price target $3.

Deutsche Bank upgrades National City (NYSE: NCC) from Sell to Buy with a $9 price target, saying with the stock down 84% over the last 12 months it trades at a large discount to its franchise value even after assuming that almost all of the new $7 billion of capital will be used for new loans.

Bernstein upgrades National City (NYSE: NCC) from Market Perform to Outperform.

Citi upgrades Medco Health Solutions (NYSE: MHS) from Hold to Buy. Price target $57.

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

DOWNGRADES:
Deutsche Bank downgrades Strategic Hotels & Resorts (NYSE: BEE) from Buy to Hold.

Calyon Securities downgrades BJ Services (NYSE: BJS) from Add to Neutral. Price target $33.

CRT Capital downgrades UnitedHealth (NYSE: UNH) from Buy to Fair Value.

Keefe Bruyette & Woods downgrades Accenture (NYSE: ACN) from Buy to Hold, citing valuation.

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

NEW COVERAGE:
Credit Suisse initiates coverage on Molson Coors (NYSE: TAP) with an Outperform rating. Price target $62.

Lehman Bros. initiates coverage on Dell (Nasdaq: DELL) with an Equalweight, citing positive near-term gains from move into retail, but negative effect on margins. Price target $20.

Merrill Lynch reinstates coverage on Exxon Mobil (NYSE: XOM) with a Buy. Price target $105.

J.P. Morgan initiates coverage on Garmin (Nasdaq: GRMN) with a Neutral.

Lehman Bros. initiates coverage on Apple (Nasdaq: AAPL) with an Overweight, citing strong product mix including new iPhone and notebooks. Price target $195.

Lehman Bros. initiates coverage on Hewlett-Packard (NYSE: HPQ) with an Overweight, citing near-term catalyst from cost-cutting measures. Price target $59.

Lehman Bros. initiates coverage on IBM Corp (NYSE: IBM) with an Overweight, saying thinks company showing conservative estimates. Price target $144.

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

Related Categories

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Stocks Mentioned

Related Entities

• Credit Suisse
• Keefe, Bruyette & Woods
• Deutsche Bank
• JPMorgan
• Citi
• Merrill Lynch
• Lehman Brothers
• Calyon Securities
• Robert W Baird

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