Notable Analyst Rating Changes 6/19: CCL, ARM, SPWRA, FRO Upgraded; VMW, LDK, RFMD Downgraded
UPGRADES:
Wachovia upgrades Carnival (NYSE: CCL) to Outperform. Valuation range: $28 to $30. Click here for the full report.
Barclays upgrades ArvinMeritor (NYSE: ARM) from Equal Weight to Overweight, citing ability to address near-term liquidty issues.
UBS upgrades SunPower (Nasdaq: SPWRA) from Neutral to Buy and raises their price target from $26 to $38, saying company is best positioned to benefit from increased U.S. solar demand.
Goldman Sachs upgraded Frontline Ltd. (NYSE: FRO) from Sell to Buy and added the stock to their Conviction Buy List.
For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades
DOWNGRADES:
Goldman Sachs removed VMware, Inc. (NYSE: VMW) from its Conviction Buy List and downgraded the stock from Buy to Neutral. The firm's price target was raised from $29 to $31.
UBS downgrades LDK Solar (NYSE: LDK) from Buy to Neutral.
FBR Capital downgraded the U.S. dry bulk shipping sector from Market Weight to Underweight.
UBS downgrades RF Micro Devices (Nasdaq: RFMD) from Buy to Neutral.
For daily real-time Downgrades go to http://www.streetinsider.com/Downgrades
NEW COVERAGE:
HSBC initiates coverage on Baidu.com (Nasdaq: BIDU) with an Underweight rating and $244 price target, which 17% represents downside.
Rochdale's Dick Bove initiates coverage on Citigroup (NYSE: C) with a Buy rating and $4 price target - CNBC Says normalized EPS of $1.12 could make the stock worth up to $12 per share.
Stifel Nicolaus initiates coverage on Ciena (Nasdaq: CIEN) with a Buy.
Kaufman Bros. initiates coverage on priceline.com (Nasdaq: PCLN) with a Buy. Price target $145.
For daily real-time New Coverage go to http://www.streetinsider.com/New+Coverage
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- Goldman Sachs Conviction Buy List
- Stifel Nicolaus
- UBS
- Kaufman Bros.
- Citi
- Wachovia
- Barclays
- Richard Bove
- HSBC
- Notable Analyst Rating Changes
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