Notable Analyst Rating Changes 8/5: AIG, CREE, WBD Upgraded; NT, FIG, RACK Downgraded

August 5, 2008 10:01 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
UBS upgrades American International Group (NYSE: AIG) from Neutral to Buy, and raised its price target to $41 citing valuation.

Morgan Keegan upgrades Cree (Nasdaq: CREE) from Market Perform to Outperform.

Citigroup upgrades Wimm Bill Dann Foods (NYSE: WBD) from Hold to Buy with a $120 price target, citing valuation.

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

DOWNGRADES:
Merrill Lynch downgrades Nortel (NYSE: NT) from Neutral to Underperform with a $7 price target, citing concerns about 2009.

Citigroup downgrades Fortress Investment (NYSE: FIG) from Hold to Sell with a $9 price target.

Merriman Curhan downgrades Rackable Systems (Nasdaq: RACK) from Buy to Neutral.

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

NEW COVERAGE:
UBS initiates coverage on Apple (Nasdaq: AAPL) with a Buy rating and $195 price target, citing the company's core strengths and opportunities as well as its competitive advantage.

KeyBanc initiates coverage on Best Buy (NYSE: BBY) with a Hold rating.

KeyBanc initiates coverage on Circuit City (NYSE: CC) with an Underweight rating and a $1.80 downside price target.

UBS initiates coverage on HP (NYSE: HPQ) with a Neutral rating.

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

Related Categories

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Stocks Mentioned

Related Entities

• UBS
• Citi
• KeyBanc
• Merrill Lynch
• Merriman Curhan Ford
• Morgan Keegan & Company
• Notable Analyst Rating Changes

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