Notable Analyst Rating Changes 6/17: QCOM, TXN, USB, NVDA, NFLX Upgraded; UFS, PCL, UL, CMI Downgraded

June 17, 2009 10:06 AM EDT

UPGRADES:
Goldman Sachs upgrades QUALCOMM Inc. (Nasdaq: QCOM) from Neutral to Buy and added the stock to their Conviction Buy List with a $53 price target

Merrill Lynch/BAM is out with a major call on Texas Instruments (NYSE: TXN) upgrading their rating to Buy from Underperform and adding the stock to their U.S 1 Focust list with a $27 tgt (prev. $18). Click here for more color.

Deutsche Bank upgrades US Bancorp (NYSE: USB) from Hold to Buy and raised their price target from $20 to $21, saying $3 normalized EPS possible. Click here for the full report.

UBS upgrades NVIDIA (Nasdaq: NVDA) from Sell to Neutral.

Wedbush Morgan upgrades Netflix, Inc. (Nasdaq: NFLX) from Hold to Buy with a $48 price target, citing compelling valuation. Click here for the full report.

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

DOWNGRADES:
J.P. Morgan downgrades Domtar (NYSE: UFS) from Overweight to Neutral.

J.P. Morgan downgrades Plum Creek Timber (NYSE: PCL) from Neutral to Underweight.

UBS downgrades Unilever PLC (NYSE: UL) from Neutral to Sell.

UBS downgrades Cummins (NYSE: CMI) from Buy to Neutral.

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

NEW COVERAGE:
Baird initiates coverage on First Solar (Nasdaq: FSLR) with a Neutral. Price target $180.

Needham initiates coverage on 3Com (Nasdaq: COMS) with a Buy rating and 'Street High' $7 price target.

SunTust initiates coverage on State Street (NYSE: STT) with a Buy. Price target $68.

SunTrust initiates coverage on The Bank of New York Mellon (NYSE: BK) with a Buy. Price target $38.

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


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Stocks Mentioned

BK 27.45

+0.55 +2.04%
Volume: 7,510,606
Track BK

CMI 47.01

+0.83 +1.80%
Volume: 1,792,267
Track CMI

COMS 5.49

+0.03 +0.55%
Volume: 3,458,086
Track COMS

FSLR 119.50

+1.57 +1.33%
Volume: 2,789,448
Track FSLR

NFLX 57.20

+1.34 +2.40%
Volume: 1,219,854
Track NFLX

NVDA 13.46

+0.30 +2.28%
Volume: 20,457,498
Track NVDA

PCL 33.94

+1.13 +3.44%
Volume: 2,106,509
Track PCL

QCOM 44.75

+0.85 +1.94%
Volume: 17,826,852
Track QCOM

STT 43.73

+2.28 +5.50%
Volume: 6,324,662
Track STT

TXN 24.63

+0.59 +2.45%
Volume: 10,613,663
Track TXN

UFS 50.50

+1.30 +2.64%
Volume: 1,129,518
Track UFS

UL 30.50

+0.58 +1.94%
Volume: 1,667,598
Track UL

USB 24.51

+0.78 +3.29%
Volume: 11,651,286
Track USB


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