Notable Analyst Rating Changes 6/18: ARM, MPEL, LNC, CNW Upgraded; BWA, SNDK, PAYX, YRCW Downgraded

June 18, 2009 9:46 AM EDT

UPGRADES:
Goldman Sachs upgrades ArvinMeritor Inc. (NYSE: ARM) from Neutral to Buy with a $5 price target, providing upside of up to 43%.

Deutsche Bank upgrades Melco Crown Entertainment Ltd. (Nasdaq: MPEL) from Hold to Buy with a $6.50 price target, saying confusion creates opportunities. Click here for the full report.

Credit Suisse upgrades Lincoln National (NYSE: LNC) from Neutral to Outperform. Here is more color on the upgrade.

Baird upgrades Con-way (NYSE: CNW) from Neutral to Outperform and increases price target from $22 to $42.

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

DOWNGRADES:
Goldman downgraded BorgWarner Inc. (NYSE: BWA) from Buy to Neutral with a $33 price target, citing valuation.

Needham & Co downgrades SanDisk (Nasdaq: SNDK) from Hold to Underperform.

J.P. Morgan downgrades Paychex (Nasdaq: PAYX) from Neutral to Underweight.

Robert W. Baird downgrades YRC Worldwide (Nasdaq: YRCW) from Neutral to Underperform saying they see a potential bankruptcy.

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

NEW COVERAGE:
Pali Research initiates coverage of AT&T (NYSE: T) with a Sell rating and a $20 price target. Click here for more color.

Pali Research initiates coverage on Verizon (NYSE: VZ) with a Buy rating and $39 price target. Here is the full report.

Cowen & Co initiates coverage on IBM (NYSE: IBM) with an Outperform rating.

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


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Stocks Mentioned

ARM 8.36

+0.21 +2.58%
Volume: 871,206
Track ARM

BWA 31.00

+0.37 +1.21%
Volume: 1,144,081
Track BWA

CNW 32.62

+0.80 +2.51%
Volume: 1,077,541
Track CNW

IBM 127.25

-0.30 -0.24%
Volume: 7,068,967
Track IBM

LNC 23.08

+0.70 +3.13%
Volume: 6,091,402
Track LNC

MPEL 4.27

-0.14 -3.17%
Volume: 5,612,738
Track MPEL

PAYX 32.35

+0.60 +1.89%
Volume: 5,952,081
Track PAYX

SNDK 21.94

+0.51 +2.38%
Volume: 6,508,521
Track SNDK

T 27.60

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

VZ 32.70

+0.01 +0.03%
Volume: 16,005,651
Track VZ

YRCW 1.18

-0.02 -1.67%
Volume: 3,461,244
Track YRCW


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