Notable Analyst Rating Changes 6/16: TEL, SUNH, COOL, SMOD Upgraded; T, CX, TWTC, FTO Downgraded

June 16, 2009 9:47 AM EDT

UPGRADES:
Collins Stewart upgrades Tyco Electronics (NYSE: TEL) from Sell to Hold. Click here to see color on the upgrade.

Leerink Swann is upgrading Sun Healthcare (NASDAQ: SUNH) to Outperform from Market Perform with a valuation range of $13-$14. Click here for the full report.

Wedbush Morgan upgrades Majesco Entertainment Co. (Nasdaq: COOL) from Hold to Buy with a $2.50 price target. The firm said liquidity and operational execution are greatly improved. See details of the upgrade here.

Needham & Co upgrades SMART Modular Technologies (Nasdaq: SMOD) from Hold to Buy with a $4.50 price target.

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

DOWNGRADES:
Barclays downgrades AT&T (NYSE: T) from Overweight to Equal Weight as part of a broader U.S. telecom services sector cut to Neutral.

Bank of America downgrades CEMEX (NYSE: CX) from Neutral to Underperform.

Barclays downgrades tw telecom (Nasdaq: TWTC) from Overweight to Equalweight. Price target $14.

Credit Suisse downgrades Frontier Oil (NYSE: FTO) from Outperform to Neutral.

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

NEW COVERAGE:
Collins Stewart initiates coverage on Boston Scientific (NYSE: BSX) with a Hold. Here is the full report.

Goldman Sachs initiates coverage on Cummins Inc. (NYSE: CMI) with a Buy rating and $42 price target. The firm said CMI is set to benefit from global diesel emission regulations, growing Asian industrialization, and a cyclical turn in early cycle US truck markets.

Morgan Joseph initiates coverage on Celgene Pharmaceuticals (Nasdaq: CELG) with a Buy rating. Price target $52. Click here for full color on the coverage.

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


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Stocks Mentioned

BSX 8.20

-0.11 -1.32%
Volume: 10,273,923
Track BSX

CELG 53.42

-0.72 -1.33%
Volume: 4,154,796
Track CELG

CMI 46.76

-0.25 -0.53%
Volume: 896,562
Track CMI

COOL 1.05

+0.04 +3.96%
Volume: 174,570
Track COOL

CX 11.44

-0.34 -2.89%
Volume: 7,832,658
Track CX

FTO 13.36

+0.01 +0.07%
Volume: 4,525,680
Track FTO

SMOD 3.98

-0.05 -1.24%
Volume: 171,835
Track SMOD

SUNH 8.95

+0.03 +0.34%
Volume: 172,990
Track SUNH

T 26.31

-0.03 -0.11%
Volume: 15,530,851
Track T

TEL 23.06

+0.11 +0.48%
Volume: 2,610,056
Track TEL

TWTC 14.96

+1.13 +8.17%
Volume: 2,333,140
Track TWTC


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