Notable Analyst Rating Changes 5/15: JWN, ZLC, CBS, VAL Upgraded; AFL, ZZ, CCE, CYT Downgraded

May 15, 2009 10:08 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Piper Jaffray & Co. upgrades Nordstrom, Inc. (NYSE: JWN) from Neutral to Buy. Price target increased $1 to $25. Click here for full color on the upgrade.

Bank of America upgrades Zale (NYSE: ZLC) from Neutral to Buy and raises their price target from $1.60 to $5.

Barclays upgrades CBS Corp. (NYSE: CBS) from Underweight to Equalweight. Price target increased from $5 to $9.

Goldman Sachs upgrades Valspar Corp. (NYSE: VAL) from Neutral to Buy and added the stock to their Conviction Buy List.

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

DOWNGRADES:
Morgan Stanley downgrades Aflac (NYSE: AFL) from Overweight to Equalweight.

Stifel Nicolaus and Raymond James downgrade Sealy (NYSE: ZZ) from Hold to Sell and from Strong Buy to Market Perform, respectively.

JPMorgan downgrades Coca-Cola Enterprises (NYSE: CCE) from Overweight to Neutral.

Goldman Sachs downgrades Cytec Industries Inc. (NYSE: CYT) from Neutral to Sell, but raises its price target from $16 to $21.

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

NEW COVERAGE:
Goldman Sachs resumes coverage on Alcoa, Inc. (NYSE: AA) with a Buy rating and $13 price target.

Stifel Nicolaus initiates coverage on BlackRock (NYSE: BLK) with a Hold.

Oppenheimer initiates coverage on Comverge (Nasdaq: COMV) with a Perform rating.

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


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Stocks Mentioned

AA 12.80

+0.00 +0.00%
Volume: 26,414,077
Track AA

AFL 46.40

+0.00 +0.00%
Volume: 4,842,609
Track AFL

BLK 226.74

+0.00 +0.00%
Volume: 257,526
Track BLK

CBS 13.15

+0.00 +0.00%
Volume: 7,146,366
Track CBS

CCE 19.75

+0.00 +0.00%
Volume: 3,605,723
Track CCE

COMV 10.36

+0.00 +0.00%
Volume: 236,201
Track COMV

CYT 34.73

+0.00 +0.00%
Volume: 383,183
Track CYT

JWN 34.34

+0.00 +0.00%
Volume: 3,951,206
Track JWN

VAL 26.29

+0.00 +0.00%
Volume: 668,267
Track VAL

ZLC 4.75

+0.00 +0.00%
Volume: 513,447
Track ZLC

ZZ 2.75

+0.00 +0.00%
Volume: 515,785
Track ZZ


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