Notable Analyst Rating Changes 05/23: (SBUX) (AMAT) (WMB) Upgraded; (NDAQ) (PSO) (ARBA) Downgraded

UPGRADES
BofA/Merrill Lynch upgrades Starbucks (Nasdaq: SBUX) from Neutral to Buy.

Goldman Sachs boosts Applied Materials (Nasdaq: AMAT) from Sell to Neutral with a price target of $11.50. Click Here for more color.

Wells Fargo lifts Williams Companies (NYSE: WMB) from Market Perform to Outperform with a valuation range $37 - $40.

Brean Murray Carret & Co. raises Warnaco Group (NYSE: WRC) from Hold to Buy with a price target of $55. Click Here for more color.

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

DOWNGRADES
Deutsche Bank downgrades Nasdaq OMX Group Inc. (Nasdaq: NDAQ) from Buy to Hold.

BofA/Merrill Lynch trims Pearson PLC (NYSE: PSO) from Buy to Neutral.

Ariba (Nasdaq: ARBA) lowered by two:

• Goldman Sachs from Buy to Neutral with a price target of $44; and
  
  Craig-Hallum from Hold to Sell.

Jefferies reduces FirstEnergy Corp. (NYSE: FE) from Hold to Underperform with a price target of $40 (down from $48). Click Here for more color.

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

NEW COVERAGE
Needham & Company starts Facebook (Nasdaq: FB) with a Buy rating and $40 price target. Click Here for more color.

Jefferies begins Dendreon (Nasdaq: DNDN) with an Underperform rating and a $5 price target. Click Here for more color.

Auriga assumes Teva Pharma (Nasdaq: TEVA) at Hold and $45 price target.

BB&T Capital initiates Waste Management (NYSE: WM) with a Hold.

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

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