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 52.47

+0.47 +0.90%
Volume: 1,737,222
Track AGU

AZO 147.51

+4.16 +2.90%
Volume: 1,191,134
Track AZO

HES 57.40

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

NWL 14.76

-0.17 -1.14%
Volume: 3,544,830
Track NWL

PCU 35.02

+0.28 +0.81%
Volume: 1,981,793
Track PCU

PTR 130.99

-1.31 -0.99%
Volume: 384,981
Track PTR

SLM 10.64

+0.08 +0.76%
Volume: 2,201,542
Track SLM

STP 13.11

+0.05 +0.38%
Volume: 3,375,497
Track STP

SUN 27.77

+0.25 +0.91%
Volume: 2,187,158
Track SUN

VLO 17.45

+0.17 +0.98%
Volume: 9,015,509
Track VLO

WB 5.54

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


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