Notable Analyst Rating Changes 5/6: WB, AGU, HES, SLM Upgraded; PCU, PTR, SUN, VLO Downgraded

May 6, 2008 9:54 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Stifel Nicolaus upgrades Wachovia (NYSE: WB) from Hold to Buy with a $40 price target.

RBC Capital upgrades Agrium (NYSE: AGU) from Sector Perform to Outperform. Price target $115.

Goldman Sachs upgrades Hess Corporation (NYSE: HES) from Neutral to Buy.

Lehman Bros. upgrades SLM (NYSE: SLM) from Equalweight to Overweight, citing more positive outlook from recently passed bill (in Gov't). Price target increased from $27 to $30.

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

DOWNGRADES:
HSBC downgrades Southern Copper (NYSE: PCU) from Overweight to Neutral.

Goldman Sachs removes PetroChina Co. Ltd. (NYSE: PTR) from their Asia Pacific Buy List and adds the stock to their Asia Pacific Sell List. Price target on PetroChina A-shares cut 32% to 13.2 Yuan. Price target on PetroChina H-shares cut 24% to HK$10.70.

Goldman Sachs and J.P. Morgan downgrades Sunoco (NYSE: SUN) from Buy to Neutral and from Neutral to Underweight, respectively.

J.P. Morgan downgrades Valero (NYSE: VLO) from Overweight to Neutral.

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

NEW COVERAGE:Caris & Co initiates coverage on Newell Rubbermaid (NYSE: NWL) with an Average, citing highest commodity cost exposures in its sector. Price target $24.

Sanford C. Bernstein initiates coverage on AutoZone (NYSE: AZO) with an Outperform. Price target $155.

Jesup & Lamont initiates coverage on Suntech Power (NYSE: STP) with a Buy rating and $64 price target.

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


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Stocks Mentioned

AGU 27.49

-11.92 -30.25%
Volume: 443,812
Track AGU

AZO 28.64

-124.12 -81.25%
Volume: 435,036
Track AZO

HES 27.54

-25.57 -48.15%
Volume: 444,708
Track HES

NWL 26.29

+15.62 +146.39%
Volume: 443,589
Track NWL

PCU 26.32

+5.94 +29.15%
Volume: 452,407
Track PCU

PTR 28.73

-83.94 -74.50%
Volume: 437,978
Track PTR

SLM 28.60

+18.68 +188.31%
Volume: 431,815
Track SLM

STP 26.33

+7.76 +41.79%
Volume: 441,798
Track STP

SUN 26.27

+2.75 +11.69%
Volume: 444,847
Track SUN

VLO 27.51

+10.09 +57.92%
Volume: 447,611
Track VLO

WB 5.54

+0.00 +0.00%
Volume: 79,673,174
Track WB


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