Notable Analyst Rating Changes 7/17: NVS, CHINA, CVLT, BT Upgraded; NOK, AKAM, KMP, SCHN, LL Downgraded

July 17, 2009 9:50 AM EDT

UPGRADES:
J.P. Morgan upgrades Novartis (NYSE: NVS) from Neutral to Overweight.

Wedbush Morgan upgraded CDC Corp. (Nasdaq: CHINA) two-notches from Undeperform to Outperform after announcing that is CDC Software nit filed for an IPO. The firm raised its price target from $1.50 to $2.50, which represents 28% upside from yesterday's close of $1.94.

Goldman Sachs upgraded CommVault Systems, Inc. (Nasdaq: CVLT) from Sell to Neutral. The firm raised its price target on CVLT to $17 from $15.

Bernstein upgrades BT Group (NYSE: BT) from Market Perform to Outperform.

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

DOWNGRADES:
UBS downgrades Nokia (NYSE: NOK) from Buy to Neutral.

Goldman Sachs downgrades Akamai Technologies Inc. (Nasdaq: AKAM) to Sell. The firm lowered their price target on AKAM to $20 from $21.

Wells Fargo downgrades Kinder Morgan Energy Partners (NYSE: KMP) to Market Perform. Click here for more color on the downgrade.

Morgan Stanley downgrades Schnitzer Steel Industries (Nasdaq: SCHN) from Equalweight to Underweight. Price target $42.

Goldman Sachs downgrades Lumber Liquidators, Inc. (NYSE: LL) from Buy to Neutral with a $18 price target, saying valuation adequately reflects growth potential.

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

NEW COVERAGE:
Jefferies & Co initiates coverage on Darden Restaurants (NYSE: DRI) with a Buy.

Janney Montgomery Scott initiates coverage on Automatic Data Processing (NYSE: ADP) with a Buy rating. $44 fair value estimate. Click here for the full report.

SocGen initiates coverage on Waste Management (NYSE: WMI) with a Buy rating.

Pali Research initiates coverage on Franklin Resources (NYSE: BEN) with a Buy. Price target $87. Here is some more color on the coverage.

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


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Stocks Mentioned

ADP 43.69

+0.50 +1.16%
Volume: 6,775,395
Track ADP

AKAM 24.98

+1.21 +5.09%
Volume: 8,255,458
Track AKAM

BEN 108.87

+0.92 +0.85%
Volume: 1,571,949
Track BEN

BT 23.33

-0.13 -0.55%
Volume: 207,678
Track BT

CHINA 2.47

+0.02 +0.82%
Volume: 289,586
Track CHINA

CVLT 22.33

+1.26 +5.98%
Volume: 1,029,243
Track CVLT

DRI 32.21

+0.57 +1.80%
Volume: 1,963,042
Track DRI

KMP 57.00

+0.02 +0.04%
Volume: 681,353
Track KMP

LL 26.35

+0.04 +0.15%
Volume: 599,004
Track LL

NOK 12.70

-0.05 -0.39%
Volume: 23,612,527
Track NOK

NVS 55.55

-0.23 -0.41%
Volume: 1,462,678
Track NVS

SCHN 46.64

-0.31 -0.66%
Volume: 1,108,386
Track SCHN

WMI 28.39

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


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