Notable Analyst Rating Changes 7/16: PFCB, CSX, BWA Upgraded; CSCO, MGM, RIMM Downgraded

July 16, 2008 9:54 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Jefferies and Wedbush Morgan upgrade P.F. Chang's (Nasdaq: PFCB) to Buy and Hold, respectively.

Merrill Lynch upgrades CSX (NYSE: CSX) from Neutral to Buy with a $71 price target.

Baird upgrades BorgWarner (NYSE: BWA) from Neutral to Outperform with a $48 price target.

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

DOWNGRADES:
Credit Suisse downgrades Cisco (Nasdaq: CSCO) from Outperform to Neutral and lowers price target from $31 to $24, citing a slower sales outlook as clients cut back spending.

Merrill Lynch downgrades MGM Mirage (NYSE: MGM) from Neutral to Underperform.

Needham & Co. downgrades Research In Motion (Nasdaq: RIMM) from Hold to Underperform.

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

NEW COVERAGE:
Goldman Sachs restarts coverage on Jones Apparel Group Inc. (NYSE: JNY) with a Neutral rating.

RBC Capital initiates coverage on Garmin (Nasdaq: GRMN) with a Sector Perform rating and $45 price target.

BB&T Capital initiates coverage on LaSalle Hotel (NYSE: LHO) with a Buy rating and $32 price target.

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


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Stocks Mentioned

BWA 31.00

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

CSCO 24.16

+0.33 +1.38%
Volume: 49,537,567
Track CSCO

CSX 50.13

+1.88 +3.90%
Volume: 5,637,037
Track CSX

GRMN 30.73

+0.33 +1.09%
Volume: 2,311,712
Track GRMN

JNY 16.85

+0.85 +5.31%
Volume: 2,010,763
Track JNY

LHO 20.68

+1.51 +7.88%
Volume: 1,183,983
Track LHO

MGM 10.81

+0.18 +1.69%
Volume: 24,864,540
Track MGM

PFCB 35.55

+0.67 +1.92%
Volume: 492,115
Track PFCB

RIMM 58.75

+0.33 +0.56%
Volume: 13,239,120
Track RIMM


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