Notable Analyst Rating Changes 10/3: COST, CS, CSX, URBN Upgraded; CMI, WAG, SGP, SCG Downgraded

October 3, 2008 10:10 AM EDT

UPGRADES:
Goldman Sachs upgrades Costco (Nasdaq: COST) from Neutral to Buy and adds the stock to its Conviction Buy List, citing valuation and market share gains as the economy falters.

Goldman Sachs upgrades Credit Suisse Group (NYSE: CS) from Neutral to Buy and added the stock to their Conviction Buy List.

JP Morgan upgrades CSX Corp. (NYSE: CSX) from Neutral to Overweight.

DA Davidson upgrades Urban Outfitters (Nasdaq: URBN) from Neutral to Buy.

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

DOWNGRADES:
Wachovia downgrades Cummins Inc. (NYSE: CMI) to Market Perform and lowering valuation range to $43-46 from $83-86.

Morgan Stanley downgrades Walgreen (NYSE: WAG) from Overweight to Equalweight.

Merrill Lynch downgrades Schering-Plough (NYSE: SGP) from Buy to Underperform

Merrill Lynch downgrades SCANA (NYSE: SCG) from Neutral to Underperform.

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

NEW COVERAGE:
Merrill Lynch resumes coverage on Gilead Sciences (Nasdaq: GILD) with a Neutral.

Jefferies & Co. initiates coverage on The TJX Companies (NYSE: TJX) with a Buy rating.

Banc of America initiates coverage on Kraft Foods (NYSE: KFT) with a Buy rating.

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


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Stocks Mentioned

CMI 23.44

+0.93 +4.13%
Volume: 3,584,968
Track CMI

COST 50.10

+2.19 +4.57%
Volume: 6,138,411
Track COST

CS 25.48

+0.82 +3.33%
Volume: 917,491
Track CS

CSX 34.03

+0.24 +0.71%
Volume: 5,096,194
Track CSX

GILD 44.09

+1.63 +3.84%
Volume: 8,594,477
Track GILD

KFT 26.15

+0.59 +2.31%
Volume: 11,829,613
Track KFT

SCG 33.50

+0.94 +2.89%
Volume: 1,455,499
Track SCG

SGP 16.13

+0.58 +3.73%
Volume: 14,221,300
Track SGP

TJX 20.31

+0.02 +0.10%
Volume: 6,893,771
Track TJX

URBN 16.97

+0.74 +4.56%
Volume: 3,138,904
Track URBN

WAG 23.65

+0.59 +2.56%
Volume: 7,899,227
Track WAG


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