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 25.10

+14.75 +142.51%
Volume: 434,349
Track AA

ARTC 11.40

+0.41 +3.73%
Volume: 105,902
Track ARTC

BBI 29.96

+29.28 +4,305.88%
Volume: 440,483
Track BBI

CCO 26.38

+21.06 +395.86%
Volume: 442,845
Track CCO

FSC 26.38

+16.30 +161.71%
Volume: 434,146
Track FSC

MRK 26.28

-1.77 -6.31%
Volume: 447,665
Track MRK

QLGC 12.69

-0.27 -2.08%
Volume: 1,361,964
Track QLGC

SNDK 14.19

-0.68 -4.57%
Volume: 3,402,117
Track SNDK

TXN 26.30

+4.70 +21.76%
Volume: 446,525
Track TXN


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