Notable Analyst Rating Changes 6/25: XRTX, DE, JCP, LM, SLM Upgraded; COP, RHT, HAL Downgraded

June 25, 2009 10:06 AM EDT

UPGRADES:
Stifel Nicolaus and Baird upgrade Xyratex (Nasdaq: XRTX) to Buy and Outperform, respectively.

Goldman Sachs upgraded Deere & Co. (NYSE: DE) from Sell to Neutral, maintaining their $42 price target. The firm is citing an improved risk/reward.

JPMorgan upgrades J.C. Penney (NYSE: JCP) from Neutral to Overweight, also boosting its price target from $28 to $33. Click here for more color.

Deutsche Bank upgrades Legg Mason (NYSE: LM) from Sell to Hold. Price target increased from $18 to $23. Click here for the full report.

J.P. Morgan upgrades SLM Corporation (NYSE: SLM) from Neutral to Overweight. Click here for the full report.

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

DOWNGRADES:
Goldman Sachs downgraded ConocoPhillips (NYSE: COP) from Buy to Neutral, saying the risk/reward is less favroable relative to the sector.

Bank of America downgrades Red Hat (NYSE: RHT) from Buy to Neutral. Price target $21.

Goldman Sachs downgrades Halliburton Company (NYSE: HAL) from Buy to Neutral, $28 target. Removed from Conviction Buy List.

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

NEW COVERAGE:
Citigroup initiates coverage on Alcoa (NYSE: AA) with a Buy rating and $14 price target.

Citi initiates coverage on Freeport-McMoRan (NYSE: FCX) with a Hold. Price target $53.

ThinkEquity initiates coverage on THQ Inc (Nasdaq: THQI) with an Accumulate rating. Price target $8.

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


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Stocks Mentioned

AA 13.34

+0.45 +3.49%
Volume: 20,807,159
Track AA

COP 52.85

+0.74 +1.42%
Volume: 9,097,917
Track COP

DE 48.48

+1.32 +2.80%
Volume: 4,644,056
Track DE

FCX 83.20

+3.64 +4.58%
Volume: 14,370,264
Track FCX

HAL 31.63

+0.60 +1.93%
Volume: 11,759,808
Track HAL

JCP 31.24

+0.72 +2.36%
Volume: 5,993,777
Track JCP

LM 31.60

+1.40 +4.64%
Volume: 2,246,156
Track LM

RHT 27.27

-0.32 -1.16%
Volume: 2,693,798
Track RHT

SLM 10.75

+0.65 +6.44%
Volume: 5,395,738
Track SLM

THQI 5.25

+0.07 +1.35%
Volume: 1,022,981
Track THQI

XRTX 11.59

-0.11 -0.94%
Volume: 136,130
Track XRTX


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