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 7.02

-0.08 -1.13%
Volume: 11,502,781
Track BRCD

CAT 57.56

-0.64 -1.10%
Volume: 4,465,218
Track CAT

CCO 8.71

-0.27 -3.01%
Volume: 250,435
Track CCO

CLX 61.24

+0.11 +0.18%
Volume: 401,873
Track CLX

F 8.81

-0.13 -1.45%
Volume: 40,311,495
Track F

FDX 86.33

+0.39 +0.45%
Volume: 1,290,919
Track FDX

FITB 10.30

-0.02 -0.19%
Volume: 8,762,459
Track FITB

GILD 46.72

+0.46 +0.99%
Volume: 2,173,819
Track GILD

GM 1.43

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

HAL 27.54

-0.52 -1.85%
Volume: 6,124,863
Track HAL

NBR 20.01

-0.23 -1.14%
Volume: 2,109,953
Track NBR

PEP 63.53

+0.77 +1.23%
Volume: 3,520,141
Track PEP

WFR 12.67

-0.14 -1.09%
Volume: 2,531,922
Track WFR


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