Notable Analyst Rating Changes 7/23: AKS, BHI, STI Upgraded; USB, TGT, USB, CAT Downgraded

July 23, 2008 10:17 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
J.P. Morgan upgrades AK Steel (NYSE: AKS) from Neutral to Overweight.

UBS, RBC, and Raymond James upgrade Baker Hughes (NYSE: BHI) to Buy, Sector Perform and Strong Buy, respectively.

Morgan Keegan upgrades SunTrust Banks (NYSE: STI) from Market Perform to Outperform.

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

DOWNGRADES:
Goldman Sachs downgrades US Bancorp (NYSE: USB) from Buy to Neutral.

Credit Suisse downgrades Target Corp. (NYSE: TGT) from Outperform to Neutral.

BMO Capital downgrades XTO Energy (NYSE: XTO) from Outperform to Market Perform.

JP Morgan downgrades Caterpillar Inc. (NYSE: CAT) from Overweight to Neutral.

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

NEW COVERAGE:
BMO Capital initiates coverage on Intrepid Potash (NYSE: IPI) with an Outperform. Price target $80.

Piper Jaffray assumes coverage of ANADIGICS (NASDAQ: ANAD) with a Neutral rating. Piper lowers the price target from $10 to $8.

Feltl & Co. initiates coverage on Denny's (Nasdaq: DENN) with a Buy. Price target $3.50.

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


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Stocks Mentioned

AKS 25.08

+6.04 +31.72%
Volume: 440,420
Track AKS

ANAD 3.99

-0.17 -4.09%
Volume: 362,734
Track ANAD

BHI 26.25

-10.20 -27.98%
Volume: 458,363
Track BHI

CAT 28.71

-4.48 -13.50%
Volume: 440,941
Track CAT

DENN 2.15

-0.11 -4.87%
Volume: 280,340
Track DENN

IPI 27.63

+0.44 +1.62%
Volume: 2,268,462
Track IPI

STI 25.08

+8.75 +53.58%
Volume: 445,818
Track STI

TGT 26.37

-12.32 -31.84%
Volume: 446,551
Track TGT

USB 27.53

+9.95 +56.60%
Volume: 439,576
Track USB

XTO 25.08

-12.25 -32.82%
Volume: 443,890
Track XTO


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