Notable Analyst Rating Changes 8/19: PRX, ANN, BPOP, AXL, JOYG Upgraded; AA, ANF, TOL, DHI, LUV Downgraded

August 19, 2009 9:59 AM EDT

UPGRADES:
Goldman Sachs, Buckingham and Caris upgrade Par Pharma (NYSE: PRX) to Neutral, Accumulate and Buy, respectively.

UBS upgrades Ann Taylor (NYSE: ANN) to Buy. Piper Jaffray is also out reiterating its Overweight rating. Click here for the full report.

Keefe, Bruyette & Woods upgrades Popular, Inc. (Nasdaq: BPOP) from Market Perform to Outperform. Price target $3.50. Here is more color on the upgrade.

Credit Suisse upgrades American Axle (NYSE: AXL) from Neutral to Outperform.

Macquarie upgrades Joy Global (Nasdaq: JOYG) from Neutral to Outperform. Price target increased from $36 to $47.

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

DOWNGRADES:
Goldman Sachs downgraded Alcoa, Inc. (NYSE: AA) from Buy to Neutral, citing valuation as the stock nears their $13 price target.

Susquehanna downgrades Abercrombie & Fitch (NYSE: ANF) from Positive to Neutral. Click here for more color on the downgrade.

Stifel Nicolaus lowered its investment ratings on two homebuilders from Hold to Sell this morning: Toll Brothers (NYSE: TOL) and D.R. Horton (NYSE: DHI).

Jesup & Lamont downgrades Southwest Airlines (NYSE: LUV) from Hold to Sell on valuation. Price target $4. Here is more color.

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

NEW COVERAGE:
Goldman Sachs resumes coverage on Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) with a Buy rating and added it to their Conviction Buy List. The firm has a 6-month price target of $90.

Meredith Whitney Advisory Group initiates coverage on Discover Financial Services (NYSE: DFS) with a Neutral rating.

RBC Capital initiates coverage on Gap Inc. (NYSE: GPS) with a Sector Perform rating.

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


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Stocks Mentioned

AA 12.66

+0.00 +0.00%
Volume: 37,911
Track AA

ANF 39.97

+0.00 +0.00%
Volume: 4,950
Track ANF

ANN 14.24

+0.00 +0.00%
Volume: 200
Track ANN

AXL 6.20

+0.00 +0.00%
Volume: 928,504
Track AXL

BPOP 2.51

+0.00 +0.00%
Volume: 2,983,793
Track BPOP

DFS 15.13

+0.00 +0.00%
Volume: 2,750,954
Track DFS

DHI 10.54

+0.00 +0.00%
Volume: 3,279,376
Track DHI

FCX 84.14

+0.00 +0.00%
Volume: 33,708
Track FCX

GPS 22.03

+0.00 +0.00%
Volume: 3,860,318
Track GPS

JOYG 53.52

+0.00 +0.00%
Volume: 120
Track JOYG

LUV 8.99

+0.00 +0.00%
Volume: 3,684,152
Track LUV

PRX 23.89

+0.00 +0.00%
Volume: 206,666
Track PRX

TOL 19.28

+0.00 +0.00%
Volume: 1,356,812
Track TOL


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