Notable Analyst Rating Changes 6/23: BHP, ETFC, SIRI, FDX, UPS Upgraded; MRVL, PKI, BPI Downgraded

June 23, 2009 10:08 AM EDT

UPGRADES:
Citi upgrades BHP Billiton (NYSE: BHP) from Hold to Buy.

FBR Capital upgrades E*Trade Financial (Nasdaq: ETFC) two-notches from Underperform to Outperform, citing a more attractive risk/reward following the recent capital raise and commencement of its debt exchange offer yesterday.

Barrington upgrades Sirius XM Radio (Nasdaq: SIRI) from Market Perform to Outperform.

JP Morgan upgrades FedEx (NYSE: FDX) from Neutral to Overweight.

Jesup & Lamont upgrades United Parcel Service (NYSE: UPS) from Hold to Buy. Click here to see more color on the upgrade.

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

DOWNGRADES:
Deutsche Bank downgrades Marvell Technology (Nasdaq: MRVL) from Buy to Hold and maintains its $13 price target, citing valuation. Click here for the full report.

Barclays downgrades PerkinElmer (NYSE: PKI) from Equalweight to Underweight.

Credit Suisse downgrades Bridgepoint Education (NYSE: BPI) from Outperform to Neutral.

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

NEW COVERAGE:
Morgan Joseph initiates coverage on Raytheon Company (NYSE: RTN) with a Buy rating and $55 price target.

Morgan Stanley initiates coverage on Waste Management (NYSE: WMI) with an Equalweight rating.

Susquehanna initiates coverage on Loews Corporation (NYSE: L) with a Positive rating. Price target $33. Click here to see full color.

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


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Stocks Mentioned

BHP 77.22

+0.09 +0.12%
Volume: 2,057,587
Track BHP

BPI 14.75

+0.00 +0.00%
Volume: 37,301
Track BPI

ETFC 1.71

+0.03 +1.79%
Volume: 8,530,757
Track ETFC

FDX 87.70

+1.76 +2.05%
Volume: 778,050
Track FDX

L 35.55

+0.37 +1.05%
Volume: 372,865
Track L

MRVL 18.09

+1.56 +9.44%
Volume: 9,864,500
Track MRVL

PKI 19.52

+0.28 +1.46%
Volume: 116,617
Track PKI

RTN 52.51

+0.97 +1.88%
Volume: 696,148
Track RTN

SIRI 0.64

+0.01 +1.59%
Volume: 3,695,185
Track SIRI

UPS 57.98

+0.41 +0.71%
Volume: 1,687,944
Track UPS

WMI 28.39

-0.18 -0.63%
Volume: 1,276,223
Track WMI


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