Notable Analyst Rating Changes 9/9: MS, ITW, EBAY, FIG, WYNN, UPS Upgraded; DD, UBS, PALM, MDAS Downgraded

September 9, 2009 10:27 AM EDT

UPGRADES:
JP Morgan upgrades Morgan Stanley (NYSE: MS) from Neutral to Overweight, saying they are switching preference on investment banks on regulatory proposals. The firm also raised its price target from $33 to $36.

Goldman Sachs upgrades Illinois Tool Works Inc. (NYSE: ITW) from Neutral to Buy and added the stock to their Conviction Buy List, with a $55 price target.

Sanford C. Bernstein upgrades eBay (Nasdaq: EBAY) from Market Perform to Outperform and raises their price target from $24 to $28.

Barclays upgrades Fortress Investment Group (NYSE: FIG) from Equalweight to Overweight. Click here for more color.

Oppenheimer upgrades Wynn Resorts (Nasdaq: WYNN) from Underperform to Perform, also raising its price target by nearly 70% from $36 to $61.

JPMorgan upgrades United Parcel Service (NYSE: UPS) from Neutral to Overweight, also raising its price target from $57 to $70. Click here for the full report.

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

DOWNGRADES:
Goldman Sachs downgrades EI DuPont de Nemours & Co. (NYSE: DD) from Buy to Neutral, citing valuation.

JP Morgan downgraded UBS AG (NYSE: UBS) from Overweight to Neutral.

Credit Suisse downgrades Palm (Nasdaq: PALM) from Outperform to Neutral this morning, also cutting his price target on the stock from $18 to $12.

Piper Jaffray & Co. downgrades MedAssets, Inc. (Nasdaq: MDAS) to Neutral. Here is more color on the downgrade.

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

NEW COVERAGE:
Rochdale Securities' Dick Bove initiates coverage on Fifth Third Bancorp (Nasdaq: FITB) with a Neutral rating and $11 price target. Bove said the company is unlikely to show a profit until 2011, although "survivability" is no longer in question.

Bernstein initiates coverage on Cummins (NYSE: CMI) with a Market Perform. Price target $49.

Susquehanna initiates coverage on Halliburton (NYSE: HAL) with a Positive rating and $28 price target, citing above-average returns and inexpensive relative valuation. Click here for the full report.

Jefferies & Co initiates coverage on J.M. Smucker (NYSE: SJM) with a Buy. Price target $61.

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

Related Categories

Special Reports

Stocks Mentioned

Related Entities

• Goldman Sachs Conviction Buy List
• Credit Suisse
• Piper Jaffray
• UBS
• JPMorgan
• Morgan Stanley
• Jefferies & Co
• Sanford C. Bernstein
• Barclays
• Richard Bove
• Susquehanna International Group of Companies
• Notable Analyst Rating Changes

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