Notable Analyst Rating Changes 5/18: LEN, MGM, RTP, BA Upgraded; LLL, RTN, NOC, SPWRA, AN, JWN Downgraded

May 18, 2009 10:31 AM EDT

UPGRADES:
Citi upgrades Lennar (NYSE: LEN) from Hold to Buy. Price target increased from $11 to $12. Click here for more color.

JP Morgan upgrades MGM Mirage (NYSE: MGM) from Neutral to Overweight, $11 price target.

RBS upgrades Rio Tinto (NYSE: RTP) from Sell to Hold.

Goldman Sachs upgrades Boeing Co. (NYSE: BA) from Sell to Neutral and lifts its price target from $30 to $46.

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

DOWNGRADES:
Goldman Sachs downgraded the Defense Sector from Attractive to Cautious, saying a extended spending downturn in possible. The firm downgraded L-3 Communications (NYSE: LLL), Raytheon Co. (NYSE: RTN) from Buy to Neutral. Northrop Grumman Corporation (NYSE: NOC) was downgraded from Neutral to Sell and added to the Sell List.

Soleil Securities downgrades SunPower (Nasdaq: SPWRA) from Hold to Sell with a $21 price target. The firm said they believe the valuation is stretched heading into what they expect to be a very difficult environment for the PV industry over the next 12 months. Here is the full report.

Goldman Sachs downgrades AutoNation (NYSE: AN) from Neutral to Sell. Price target $14.

Goldman Sachs downgraded Nordstrom (NYSE: JWN) from Neutral to Sell. Price target $21.

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

NEW COVERAGE:
Piper Jaffray & Co. initiates coverage on J.Crew Group (NYSE: JCG) with a Buy. Price target $24. Click here for the full report.

KeyBanc initiates coverage on Under Armour (NYSE: UA) with a Hold rating. Click here for more color on the new coverage.

KeyBanc initiates coverage on lululemon athletica (Nasdaq: LULU) with a Hold. Here is the full report.

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


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Stocks Mentioned

AN 18.56

+0.54 +3.00%
Volume: 2,771,427
Track AN

BA 49.68

-0.09 -0.18%
Volume: 3,212,359
Track BA

JCG 41.74

+0.50 +1.21%
Volume: 973,629
Track JCG

JWN 33.93

+0.01 +0.03%
Volume: 3,135,733
Track JWN

LEN 14.14

+0.63 +4.66%
Volume: 7,379,768
Track LEN

LLL 76.40

+0.34 +0.45%
Volume: 862,852
Track LLL

LULU 25.88

+0.10 +0.39%
Volume: 342,381
Track LULU

MGM 9.75

+0.01 +0.10%
Volume: 26,321,684
Track MGM

NOC 52.37

+0.62 +1.20%
Volume: 2,510,411
Track NOC

RTN 47.57

+0.49 +1.04%
Volume: 2,354,841
Track RTN

RTP 193.33

+2.76 +1.45%
Volume: 873,917
Track RTP

SPWRA 26.60

-0.05 -0.19%
Volume: 1,699,257
Track SPWRA

UA 27.76

-0.08 -0.29%
Volume: 562,598
Track UA


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