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 18.06

+0.46 +2.61%
Volume: 3,264,426
Track AN

BA 54.68

+0.91 +1.69%
Volume: 5,451,671
Track BA

JCG 43.14

+0.50 +1.17%
Volume: 2,244,047
Track JCG

JWN 35.24

+0.27 +0.77%
Volume: 4,055,142
Track JWN

LEN 12.43

+0.18 +1.47%
Volume: 4,809,125
Track LEN

LLL 80.75

+2.28 +2.91%
Volume: 1,260,219
Track LLL

LULU 27.03

+1.11 +4.28%
Volume: 664,999
Track LULU

MGM 10.81

+0.18 +1.69%
Volume: 24,864,540
Track MGM

NOC 55.89

+0.98 +1.78%
Volume: 4,205,045
Track NOC

RTN 52.65

+1.11 +2.15%
Volume: 3,486,427
Track RTN

RTP 207.90

-2.30 -1.09%
Volume: 1,005,301
Track RTP

SPWRA 22.31

-0.20 -0.89%
Volume: 3,421,916
Track SPWRA

UA 27.24

+1.31 +5.05%
Volume: 784,192
Track UA


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