Notable Analyst Rating Changes 4/22: F, CAT, BRCD, FDX Upgraded; NBR, CCO, HAL, WFR, FITB Downgraded

April 22, 2009 10:11 AM EDT

UPGRADES:
Goldman Sachs upgraded Ford Motor (NYSE: F) from Neutral to Buy and added the stock to their Conviction Buy List, saying the company won't need a government bailout and will benefit from likely bankruptcy filings of General Motors (NYSE: GM) and Chrysler llc.

JP Morgan upgrades Caterpillar (NYSE: CAT) from Neutral to Overweight.

Goldman Sachs upgrades Brocade (Nasdaq: BRCD) from Neutral to Buy and added the stock to its Conviction Buy List. The firm has a $6.50 price target.

Bank of America upgrades FedEx (NYSE: FDX) from Underperform to Neutral. Price target increased to $56.

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

DOWNGRADES:
Deutsche Bank downgrades Nabors Industries (NYSE: NBR) from Hold to Buy. Click here for more color.

Goldman Sachs downgrades Clear Channel Outdoor (NYSE: CCO) from Neutral to Sell and added the stock to their Conviction Sell List.

Barclays downgrades Halliburton (NYSE: HAL) from Overweight to Equalweight.

Soleil Securities downgrades MEMC Electronic Materials (NYSE: WFR) from Buy to Hold. Click here for more color.

BMO Capital downgrades Fifth Third (Nasdaq: FITB) from Outperform to Market Perform. Price target $6.

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

NEW COVERAGE:
Barclays resumes coverage on Gilead Sciences (Nasdaq: GILD) with an Equalweight rating.

RBC Capital initiates coverage on Clorox (NYSE: CLX) with an Outperform.

Janney Montgomery Scott initiates coverage on PepsiCo (NYSE: PEP) with a Buy. Price target $58.

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


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Stocks Mentioned

BRCD 8.99

+0.00 +0.00%
Volume: 6,685,512
Track BRCD

CAT 57.60

+0.00 +0.00%
Volume: 6,161,561
Track CAT

CCO 7.33

+0.00 +0.00%
Volume: 262,267
Track CCO

CLX 59.93

+0.00 +0.00%
Volume: 1,459,218
Track CLX

F 7.75

+0.00 +0.00%
Volume: 159,975,746
Track F

FDX 77.12

+0.00 +0.00%
Volume: 2,894,960
Track FDX

FITB 9.17

+0.00 +0.00%
Volume: 13,346,688
Track FITB

GILD 46.26

+0.00 +0.00%
Volume: 8,652,950
Track GILD

GM 1.43

+0.00 +0.00%
Volume: 341,588,570
Track GM

HAL 31.03

+0.00 +0.00%
Volume: 15,965,689
Track HAL

NBR 21.99

+0.00 +0.00%
Volume: 4,886,676
Track NBR

PEP 61.76

+0.00 +0.00%
Volume: 4,830,987
Track PEP

WFR 12.66

+0.00 +0.00%
Volume: 3,471,274
Track WFR


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