Notable Analyst Rating Changes 6/17: CME, HOV, RDEN Upgraded; WHQ, CTXS, TPX Downgraded

June 17, 2008 10:00 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Citi upgrades CME Group Inc (NYSE: CME) from Hold to Buy. Price target $485.

UBS upgrades Hovnanian Enterprises (NYSE: HOV) from Sell to Neutral.

Oppenheimer upgrades Elizabeth Arden (Nasdaq: RDEN) from Perform to Outperform, citing current valuation. Price target $25.

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

DOWNGRADES:
Deutsche Bank downgrades W-H Energy Services (NYSE: WHQ) from Buy to Hold but raises their price target from $83 to $99. The downgrade is due to the recent announcement that WHQ has agreed to be acquired by Smith International (NYSE: SII). The firm believes a higher offer is possible but unlikely.

Friedman Billings Ramsey downgrades Citrix Systems (Nasdaq: CTXS) from Outperform to Market Perform. The firm also lowered its price target from $43 to $37.

Oppenheimer downgrades Tempur-Pedic (NYSE: TPX) from Outperform to Perform, citing continued weak U.S. sales.

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

NEW COVERAGE:
Jesup & Lamont initiates coverage on Spire Corp. (NASDAQ: SPIR) with a Buy rating and a $20 price target.

Sterne, Agee & Leach initiates coverage on KeyCorp (NYSE: KEY) with a Hold. Price target $12.

Wachovia initiates coverage on Whiting Petroleum (NYSE: WLL) with an Outperform rating and a $118 to $123 valuation range.

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

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Related Entities

• Deutsche Bank
• UBS
• Citi
• Wachovia
• Friedman, Billings, Ramsey
• Jesup & Lamont

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