Notable Analyst Rating Changes 5/18: LEN, MGM, RTP, BA Upgraded; LLL, RTN, NOC, SPWRA, AN, JWN Downgraded

May 18, 2009 10:31 AM EDT

UPGRADES:
Citi upgrades Lennar (NYSE: LEN) from Hold to Buy. Price target increased from $11 to $12. Click here for more color.

JP Morgan upgrades MGM Mirage (NYSE: MGM) from Neutral to Overweight, $11 price target.

RBS upgrades Rio Tinto (NYSE: RTP) from Sell to Hold.

Goldman Sachs upgrades Boeing Co. (NYSE: BA) from Sell to Neutral and lifts its price target from $30 to $46.

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

DOWNGRADES:
Goldman Sachs downgraded the Defense Sector from Attractive to Cautious, saying a extended spending downturn in possible. The firm downgraded L-3 Communications (NYSE: LLL), Raytheon Co. (NYSE: RTN) from Buy to Neutral. Northrop Grumman Corporation (NYSE: NOC) was downgraded from Neutral to Sell and added to the Sell List.

Soleil Securities downgrades SunPower (Nasdaq: SPWRA) from Hold to Sell with a $21 price target. The firm said they believe the valuation is stretched heading into what they expect to be a very difficult environment for the PV industry over the next 12 months. Here is the full report.

Goldman Sachs downgrades AutoNation (NYSE: AN) from Neutral to Sell. Price target $14.

Goldman Sachs downgraded Nordstrom (NYSE: JWN) from Neutral to Sell. Price target $21.

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

NEW COVERAGE:
Piper Jaffray & Co. initiates coverage on J.Crew Group (NYSE: JCG) with a Buy. Price target $24. Click here for the full report.

KeyBanc initiates coverage on Under Armour (NYSE: UA) with a Hold rating. Click here for more color on the new coverage.

KeyBanc initiates coverage on lululemon athletica (Nasdaq: LULU) with a Hold. Here is the full report.

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


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Stocks Mentioned

AN 17.64

-0.06 -0.34%
Volume: 1,838,921
Track AN

BA 53.40

-0.32 -0.60%
Volume: 3,574,036
Track BA

JCG 43.84

+0.28 +0.64%
Volume: 1,283,953
Track JCG

JWN 34.71

+0.37 +1.08%
Volume: 1,939,014
Track JWN

LEN 12.69

-0.19 -1.48%
Volume: 1,979,164
Track LEN

LLL 78.68

+0.34 +0.43%
Volume: 275,186
Track LLL

LULU 26.72

-0.04 -0.15%
Volume: 171,612
Track LULU

MGM 11.03

-0.12 -1.08%
Volume: 9,970,026
Track MGM

NOC 55.33

+0.07 +0.13%
Volume: 961,121
Track NOC

RTN 51.65

-0.15 -0.29%
Volume: 1,244,207
Track RTN

RTP 218.75

+7.05 +3.33%
Volume: 569,449
Track RTP

SPWRA 21.40

-0.22 -1.02%
Volume: 950,846
Track SPWRA

UA 26.62

+0.47 +1.80%
Volume: 420,337
Track UA


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