Notable Analyst Rating Changes 6/16: TEL, SUNH, COOL, SMOD Upgraded; T, CX, TWTC, FTO Downgraded

June 16, 2009 9:47 AM EDT

UPGRADES:
Collins Stewart upgrades Tyco Electronics (NYSE: TEL) from Sell to Hold. Click here to see color on the upgrade.

Leerink Swann is upgrading Sun Healthcare (NASDAQ: SUNH) to Outperform from Market Perform with a valuation range of $13-$14. Click here for the full report.

Wedbush Morgan upgrades Majesco Entertainment Co. (Nasdaq: COOL) from Hold to Buy with a $2.50 price target. The firm said liquidity and operational execution are greatly improved. See details of the upgrade here.

Needham & Co upgrades SMART Modular Technologies (Nasdaq: SMOD) from Hold to Buy with a $4.50 price target.

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

DOWNGRADES:
Barclays downgrades AT&T (NYSE: T) from Overweight to Equal Weight as part of a broader U.S. telecom services sector cut to Neutral.

Bank of America downgrades CEMEX (NYSE: CX) from Neutral to Underperform.

Barclays downgrades tw telecom (Nasdaq: TWTC) from Overweight to Equalweight. Price target $14.

Credit Suisse downgrades Frontier Oil (NYSE: FTO) from Outperform to Neutral.

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

NEW COVERAGE:
Collins Stewart initiates coverage on Boston Scientific (NYSE: BSX) with a Hold. Here is the full report.

Goldman Sachs initiates coverage on Cummins Inc. (NYSE: CMI) with a Buy rating and $42 price target. The firm said CMI is set to benefit from global diesel emission regulations, growing Asian industrialization, and a cyclical turn in early cycle US truck markets.

Morgan Joseph initiates coverage on Celgene Pharmaceuticals (Nasdaq: CELG) with a Buy rating. Price target $52. Click here for full color on the coverage.

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


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Stocks Mentioned

BSX 8.52

+0.05 +0.59%
Volume: 22,787,378
Track BSX

CELG 55.97

-0.56 -0.99%
Volume: 4,348,086
Track CELG

CMI 43.70

+0.65 +1.51%
Volume: 2,304,420
Track CMI

COOL 0.86

-0.02 -2.27%
Volume: 150,771
Track COOL

CX 11.55

+0.23 +2.03%
Volume: 6,643,004
Track CX

FTO 11.42

+0.12 +1.06%
Volume: 3,770,811
Track FTO

SMOD 5.02

+0.17 +3.51%
Volume: 212,843
Track SMOD

SUNH 9.09

+0.35 +4.00%
Volume: 262,049
Track SUNH

T 27.60

+0.08 +0.29%
Volume: 31,948,142
Track T

TEL 23.80

+0.10 +0.42%
Volume: 3,259,599
Track TEL

TWTC 15.59

+0.60 +4.00%
Volume: 748,108
Track TWTC


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