Notable Analyst Rating Changes 05/09: (BHI) (ETFC) (PEP) Upgraded; (SPLS) (MJN) (DRWI) Downgraded

UPGRADES
Barclays lifts Baker Hughes (NYSE: BHI) from Equal Weight to Overweight with a $91 price target.

Goldman Sachs upgrades E*TRADE (Nasdaq: ETFC) from Neutral to Buy with a $19 price target. Click Here for more color.

Goldman Sachs adds Pepsico (NYSE: PEP) to its Conviction Buy List with a $83 price target. Click Here for more color.

Bernstein raises Teva Pharma (Nasdaq: TEVA) from Market Perform to Outperform, boosting their price target from $53 to $55.

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

DOWNGRADES
Nomura Securities lowers Staples, Inc. (Nasdaq: SPLS) from Neutral to Reduce, with a price target lowered from $21 to $17. Click Here for more color.

Goldman Sachs lowers Mead Johnson Nutrition (NYSE: MJN) from Conviction Buy List to Neutral, saying the stock is now fully valued. The firm is leaving its price target at $70. Click Here for more color.

TD Newcrest (assumes coverage and) downgraded DragonWave (Nasdaq: DRWI) from Buy to Hold, with a price target cut from $10 to $8.

Barclays downgrades Occidental Petroleum (NYSE: OXY) from Overweight to Equalweight and cut its price target from $118 to $108.

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

NEW COVERAGE
ThinkEquity initiates Vertex (Nasdaq: VRTX) with a Buy, and $62 price target.

Apollo Global Management (NYSE: APO) initiated by several firms today:

• Deutsche Bank at Buy, and $20 price target. Click Here for more color;
  
  
• Wells Fargo with a Market Perform, and valuation range of $19 - $20. Click Here for more color;
  
  
• Goldman Sachs at Buy and $24 price target. Click Here for more color;
  
  
• J.P. Morgan with an Overweight rating and a $24 price target;
  
  
• Citigroup with a Buy rating and a $24 price target;
  
  
• Credit Suisse with an Outperform rating and a $23 price target; and
  
  
• UBS with a Buy rating and a $21 price target. Click Here for more color.

Qihoo 360 Technology (NYSE: QIHU) started by two today:

• Cowen with a Neutral; and
  
  
• Stifel Nicolaus at Hold.

Wells Fargo initiates coverage on IDEX Corp (NYSE: IEX) with an Outperform., with a price target boosted from $58 to $60. Click Here for more color.

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

Visit our new Ratings Insider portal to get the most comprehensive and up-to-date analyst coverage on the Street.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Citigroup set to join top banks in Anthropic IPO - Bloomberg
• ICE raises $3.71 billion in senior notes to fund MarketAxess deal
• Evercore says mutual funds cut bank stock holdings in second quarter