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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• Credit Suisse
• Deutsche Bank
• JPMorgan
• Goldman Sachs
• Robert W Baird
• Needham & Co
• Pali Research
• Raising Prices
• Notable Analyst Rating Changes
• Cowen & Co
• Bankruptcy

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