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 30.12

+0.23 +0.77%
Volume: 8,658,969
Track AIG

BIG 28.08

+4.54 +19.29%
Volume: 11,429,901
Track BIG

COST 59.19

+0.17 +0.29%
Volume: 4,936,873
Track COST

DELL 13.46

+0.00 +0.00%
Volume: 40,481,178
Track DELL

HES 57.10

-2.12 -3.58%
Volume: 5,479,092
Track HES

ICE 105.10

+0.01 +0.01%
Volume: 867,936
Track ICE

JCG 43.14

+0.50 +1.17%
Volume: 2,244,047
Track JCG

OSTK 14.93

+0.44 +3.04%
Volume: 96,325
Track OSTK

PBR 50.80

-1.32 -2.53%
Volume: 13,925,940
Track PBR

PFCB 35.55

+0.67 +1.92%
Volume: 492,115
Track PFCB

SIGM 10.50

+0.02 +0.19%
Volume: 623,864
Track SIGM


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