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 13.47

+0.13 +0.97%
Volume: 25,342,096
Track AA

ARTC 19.10

+0.10 +0.53%
Volume: 23,015
Track ARTC

BBI 0.86

+0.02 +2.38%
Volume: 1,225,485
Track BBI

CCO 7.59

+0.09 +1.20%
Volume: 385,937
Track CCO

FSC 10.12

-0.07 -0.69%
Volume: 137,776
Track FSC

MRK 33.61

+0.18 +0.54%
Volume: 15,866,464
Track MRK

QLGC 18.68

+0.06 +0.32%
Volume: 1,324,991
Track QLGC

SNDK 21.32

-0.50 -2.29%
Volume: 5,147,312
Track SNDK

TXN 25.05

+0.42 +1.71%
Volume: 19,413,406
Track TXN


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