Notable Analyst Rating Changes 9/22: HPQ, M, X, DISH, BTU Upgraded; DELL, VMC, RAD, RDC Downgraded

September 22, 2009 10:53 AM EDT

UPGRADES:
Credit Suisse upgrades Hewlett-Packard (NYSE: HPQ) from Neutral to Outperform this morning, also raising its price target on the stock from $44 to $55.

Citigroup is out with an upgrade on Macy's (NYSE: M) to a Buy from Hold. New price target stands at $30 (prev. $15) Click here for more color.

Bank of America Merrill Lynch upgrades US Steel (NYSE: X) from Underperform to Neutral, also raising its price target from $30 to $55.

Wells Fargo upgrades DISH Network (Nasdaq: DISH) from Market Perform to Outperform. Valuation range increased to $22-24 from $18-20. Click here for the full report.

Citi upgrades Peabody Energy (NYSE: BTU) from Hold to Buy. Price target increased from $34 to $46.

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

DOWNGRADES:
Credit Suisse downgrades shares of Dell (Nasdaq: DELL) from Outperform to Neutral, moving its target on the stock from $19 to $16.

UBS downgrades Vulcan Materials (NYSE: VMC) from Buy to Neutral. Price target increased from $54 to $57.

Raymond James downgrades Rite Aid (NYSE: RAD) from Outperform to Market Perform.

Jesup & Lamont downgrades Rowan Companies (NYSE: RDC) from Hold to Sell, also setting a $17 price target.

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

NEW COVERAGE:
Leerink Swann initiates coverage on Dendreon Corporation (Nasdaq: DNDN) with an Overweight rating and $40 price target, on expected FDA approval of PROVENGE and commercial outlook for the drug. Click here for the full report.

Raymond James initiates coverage on M.D.C. Holdings (NYSE: MDC) with a Strong Buy.

Rodman & Renshaw initiates coverage on FreeSeas, Inc. (NASDAQ: FREE) with a Market Perform / Speculative Risk rating.

ThinkEquity initiates coverage on Take-Two Interactive (Nasdaq: TTWO) with a Buy. Price target $15.

Stifel Nicolaus initiates coverage on Lorillard (NYSE: LO) with a Buy rating.

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


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Special Reports

Stocks Mentioned

BTU 46.00

+0.73 +1.61%
Volume: 2,468,828
Track BTU

DELL 14.36

+0.04 +0.28%
Volume: 16,679,196
Track DELL

DISH 21.12

+0.20 +0.96%
Volume: 2,947,541
Track DISH

DNDN 27.69

+0.49 +1.80%
Volume: 1,278,075
Track DNDN

FREE 1.52

+0.01 +0.66%
Volume: 118,690
Track FREE

HPQ 50.05

-0.14 -0.28%
Volume: 12,745,904
Track HPQ

LO 80.47

+0.22 +0.27%
Volume: 1,233,991
Track LO

M 17.56

+0.54 +3.17%
Volume: 7,326,847
Track M

MDC 30.75

+0.11 +0.36%
Volume: 428,016
Track MDC

RAD 1.30

-0.02 -1.52%
Volume: 2,582,468
Track RAD

RDC 25.14

-0.02 -0.08%
Volume: 2,985,911
Track RDC

TTWO 11.68

+0.11 +0.95%
Volume: 1,645,993
Track TTWO

VMC 50.03

+0.13 +0.26%
Volume: 840,153
Track VMC

X 43.67

+1.63 +3.88%
Volume: 7,724,119
Track X


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