Notable Analyst Rating Changes 5/30: DELL, AIG, PBR, BIG Upgraded; OSTK, COST, SIGM, JCG Downgraded

May 30, 2008 10:17 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Merrill Lynch upgrades Dell (Nasdaq: DELL) from Neutral to Buy, following Q1 results.

Morgan Stanley upgrades AIG (NYSE: AIG) from Equal Weight to Overweight, saying the sell-off appears overdone.

Goldman Sachs upgrades Petrobras (NYSE: PBR) from Neutral to Buy.

Piper Jaffray upgrades Big Lots (NYSE: BIG) from Neutral to Buy and raises their price target from $27 to $37.

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

DOWNGRADES:
Merrill Lynch downgrades Overstock.com (Nasdaq: OSTK) from Neutral to Sell.

Piper Jaffray downgrades Costco Wholesale (NASDAQ: COST) from Buy to Neutral with a $77 price target.

Lazard and Roth Capital downgrade Sigma Designs (Nasdaq: SIGM) to Hold.

Wachovia and Citi downgrade J. Crew (NYSE: JCG) to Market Perform and Sell, respectively.

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

NEW COVERAGE:
Citi assumes coverage on Hess Corp (NYSE: HES) with a Hold. Price target increased from $109 to $133.

Oppenheimer initiates coverage on P.F. Chang's (Nasdaq: PFCB) with a Market Perform, citing slowing return and too early for results from Pei Wei.

Lehman Brothers initiates coverage on IntercontinentalExchange (NYSE: ICE) with an Equal-Weight and and $165 target, saying secular growth, product expansion and vertical integration of its energy clearing functions should drive growth, but concerns include valuation and perceived regulatory risk.

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


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Stocks Mentioned

AIG 36.75

-0.84 -2.23%
Volume: 28,771,043
Track AIG

BIG 25.80

+0.20 +0.78%
Volume: 1,126,765
Track BIG

COST 60.40

+0.36 +0.60%
Volume: 3,154,963
Track COST

DELL 15.59

+0.19 +1.23%
Volume: 10,527,610
Track DELL

HES 57.40

-0.85 -1.46%
Volume: 2,664,158
Track HES

ICE 108.13

+0.68 +0.63%
Volume: 912,692
Track ICE

JCG 42.91

-0.24 -0.56%
Volume: 1,427,040
Track JCG

OSTK 15.42

-0.07 -0.45%
Volume: 84,061
Track OSTK

PBR 50.91

-0.21 -0.41%
Volume: 11,785,580
Track PBR

PFCB 31.33

+0.11 +0.35%
Volume: 268,817
Track PFCB

SIGM 11.14

-1.20 -9.72%
Volume: 2,930,561
Track SIGM


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