Notable Analyst Rating Changes 7/2: XOM, VSE, RAI, FITB Upgraded; DEO, PXP, UAUA Downgraded

July 2, 2008 9:50 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Sanford C. Bernstein upgrades Exxon Mobil (NYSE: XOM) from Market Perform to Outperform, citing consistent returns and strong credit rating.

Oppenheimer upgrades VeraSun Energy (NYSE: VSE) from Perform to Outperform, telling clients the stock is oversold. Price target $6.

Morgan Stanley upgrades Reynolds American (NYSE: RAI) from Underweight to Equalweight.

Baird upgrades Fifth Third Bancorp (Nasdaq: FITB) from Neutral to Outperform, saying current capital reserves should limit downside risk. Price target $13.

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

DOWNGRADES:
UBS downgrades Diageo plc (NYSE: DEO) from Buy to Neutral.

Morgan Stanley downgrades Plains Exploration & Production (NYSE: PXP) from Overweight to Equalweight.

Goldman Sachs downgrades UAL Corp. (Nasdaq: UAUA) from Buy to Neutral.

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

NEW COVERAGE:
Credit Suisse assumes coverage on BlackRock, Inc. (NYSE: BLK) with an Underperform rating.

Merrill Lynch assumes coverage on Allied Capital Corp (NYSE: ALD) with a Buy rating.

Roth Capital initiates coverage on BioMarin Pharmaceutical (Nasdaq: BMRN) with a Hold rating and a $27 price target.

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


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Stocks Mentioned

ALD 15.06

-0.29 -1.89%
Volume: 1,237,800
Track ALD

BLK 210.91

-10.64 -4.80%
Volume: 318,138
Track BLK

BMRN 28.52

-0.57 -1.96%
Volume: 2,005,269
Track BMRN

DEO 72.26

-0.90 -1.23%
Volume: 582,606
Track DEO

FITB 15.19

-1.22 -7.43%
Volume: 9,499,787
Track FITB

PXP 47.17

-1.78 -3.64%
Volume: 2,587,157
Track PXP

RAI 52.64

-0.79 -1.48%
Volume: 1,521,594
Track RAI

UAUA 11.92

-0.64 -5.10%
Volume: 21,422,525
Track UAUA

VSE 5.46

-0.54 -9.00%
Volume: 1,528,363
Track VSE

XOM 76.14

-1.88 -2.41%
Volume: 32,201,147
Track XOM


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