Notable Analyst Rating Changes 7/22: QLGC, BBI, ARTC Upgraded; TXN, MRK, SNDK Downgraded

July 22, 2008 10:10 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Citi upgrades QLogic Corp (Nasdaq: QLGC) from Hold to Buy. Price target increased by $2 to $20. Needham & Co. also upgraded the stock from Hold to Buy.

Pali Research upgrades Blockbuster (NYSE: BBI) from Neutral to Buy with a $4 price target.

BMO Capital upgrades ArthroCare (Nasdaq: ARTC) from Underperform to Market Perform.

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

DOWNGRADES:
Merrill Lynch downgrades Texas Instruments (NYSE: TXN) from Buy to Neutral. Price target lowered to $27.

Merrill Lynch downgrades Merck (NYSE: MRK) from Buy to Neutral.

Citi and Needham downgrade SanDisk (Nasdaq: SNDK) to Sell and Hold, respectively.

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

NEW COVERAGE:
BofA resumes coverage on Alcoa (NYSE: AA) with a Buy.

Caris & Co initiates coverage on Clear Channel Outdoor (NYSE: CCO) with a Below Average rating. Price target $12.

Stifel Nicolaus initiates coverage on Fifth Street Finance (NYSE: FSC) with a Buy rating.

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


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Stocks Mentioned

AA 12.99

-0.28 -2.11%
Volume: 46,730,739
Track AA

ARTC 22.45

-1.00 -4.26%
Volume: 76,876
Track ARTC

BBI 0.63

+0.01 +1.61%
Volume: 1,336,298
Track BBI

CCO 9.19

+0.21 +2.34%
Volume: 481,016
Track CCO

FSC 10.03

+0.24 +2.45%
Volume: 1,191,564
Track FSC

MRK 36.70

-0.07 -0.19%
Volume: 16,614,358
Track MRK

QLGC 18.79

+0.14 +0.75%
Volume: 1,621,369
Track QLGC

SNDK 21.94

+0.51 +2.38%
Volume: 6,506,721
Track SNDK

TXN 26.85

+0.41 +1.55%
Volume: 16,330,877
Track TXN


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