Notable Analyst Rating Changes 7/2: XOM, VSE, RAI, FITB Upgraded; DEO, PXP, UAUA Downgraded

July 2, 2008 9:50 AM EDT

StreetInsider.com Notable Analyst Rating Changes:

UPGRADES:
Sanford C. Bernstein upgrades Exxon Mobil (NYSE: XOM) from Market Perform to Outperform, citing consistent returns and strong credit rating.

Oppenheimer upgrades VeraSun Energy (NYSE: VSE) from Perform to Outperform, telling clients the stock is oversold. Price target $6.

Morgan Stanley upgrades Reynolds American (NYSE: RAI) from Underweight to Equalweight.

Baird upgrades Fifth Third Bancorp (Nasdaq: FITB) from Neutral to Outperform, saying current capital reserves should limit downside risk. Price target $13.

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

DOWNGRADES:
UBS downgrades Diageo plc (NYSE: DEO) from Buy to Neutral.

Morgan Stanley downgrades Plains Exploration & Production (NYSE: PXP) from Overweight to Equalweight.

Goldman Sachs downgrades UAL Corp. (Nasdaq: UAUA) from Buy to Neutral.

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

NEW COVERAGE:
Credit Suisse assumes coverage on BlackRock, Inc. (NYSE: BLK) with an Underperform rating.

Merrill Lynch assumes coverage on Allied Capital Corp (NYSE: ALD) with a Buy rating.

Roth Capital initiates coverage on BioMarin Pharmaceutical (Nasdaq: BMRN) with a Hold rating and a $27 price target.

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

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Related Entities

• Credit Suisse
• UBS
• Goldman Sachs
• Morgan Stanley
• Merrill Lynch
• Robert W Baird
• Sanford C. Bernstein
• Roth Capital

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