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 42.32

+0.08 +0.19%
Volume: 2,853,676
Track ADP

AKAM 23.32

+0.47 +2.06%
Volume: 4,656,796
Track AKAM

BEN 110.23

-0.76 -0.68%
Volume: 916,874
Track BEN

BT 22.84

+0.12 +0.53%
Volume: 644,206
Track BT

CHINA 2.53

+0.06 +2.43%
Volume: 600,651
Track CHINA

CVLT 21.24

+0.21 +1.00%
Volume: 312,408
Track CVLT

DRI 32.65

-0.13 -0.40%
Volume: 2,030,656
Track DRI

KMP 55.07

-0.15 -0.27%
Volume: 342,169
Track KMP

LL 24.95

+0.94 +3.92%
Volume: 362,504
Track LL

NOK 13.21

+0.08 +0.61%
Volume: 21,648,116
Track NOK

NVS 52.80

+0.22 +0.42%
Volume: 1,175,455
Track NVS

SCHN 44.64

-0.04 -0.09%
Volume: 997,345
Track SCHN

WMI 28.39

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


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