Notable Analyst Rating Changes 5/20: NFLX, CEO, PKX Upgraded; ECA, SEE, BTU, EMC Downgraded

May 20, 2008 9:54 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Credit Suisse upgrades CNOOC Ltd. (NYSE: CEO) from Neutral to Outperform.

Lehman Bros. upgrades Netflix (Nasdaq: NFLX) from Equalweight to Overweight, citing continued momentum in DVD-by-mail trends. Price target increased to $37.

Goldman Sachs upgrades POSCO (NYSE: PKX) from Sell to Neutral.

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

DOWNGRADES:
Raymond James downgrades EnCana (NYSE: ECA) from Strong Buy to Outperform.

Merrill Lynch downgrades Sealed Air (NYSE: SEE) from Neutral to Sell.

Calyon Securities downgrades Peabody Energy (NYSE: BTU) from Buy to Add.

Sanford C. Bernstein downgrades EMC Corp (NYSE: EMC) from Outperform to Market Perform, saying they still see risk due to the continued IT slowdown. They said while storage spending should hold up, this could be offset by EMC's high exposure to the U.S. and financial services.

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

NEW COVERAGE:
Sterne, Agee & Leach initiates coverage on Lazard (NYSE: LAZ) with a Buy. Price target $52.

Stifel Nicolaus initiates coverage on Lululemon Athletica (Nasdaq: LULU) with a Hold rating.

Piper Jaffray initiates coverage on Teradyne (NYSE: TER) with a Neutral rating and a $14 price target.

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

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• Credit Suisse
• Piper Jaffray
• Stifel Nicolaus
• Goldman Sachs
• Raymond James
• Merrill Lynch
• Lehman Brothers
• Calyon Securities
• Sanford C. Bernstein
• Lazard

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