Notable Analyst Rating Changes 05/16: (CSCO) (FOSL) (RIG) Upgraded; (KLAC) (PCX) (LRCX) Downgraded

UPGRADES
Barclays upgrades Cisco (Nasdaq: CSCO) from Equalweight to Overweight with a price target of $21. Click Here for more color.

Cit raises Fossil (Nasdaq: FOSL) from Neutral to Buy.

Macquarie boosts Transocean (NYSE: RIG) from Underperform to Neutral with a price target of $53.

Canaccord Genuity lifts SandRidge Energy (NYSE: SD) from Sell to Hold. Click Here for more color.

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

DOWNGRADES
JPMorgan downgrades KLA-Tencor (Nasdaq: KLAC) from Neutral to Underweight with a price target of $42.

FBR Capital cuts Patriot Coal (NYSE: PCX) from Outperform to Market Perform, lowering its price target from $9 to $4.

JPMorgan lowers Lam Research (Nasdaq: LRCX) from Neutral to Underweight, its price target lowered from $44 to $35.

JPMorgan trims Novellus (Nasdaq: NVLS) from Neutral to Underweight, price target lowered from $49.50 to $39.50.

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

NEW COVERAGE
Pacific Crest initiates LSI Corporation (NYSE: LSI) with an Outperform and $11 target.

JMP Securities commences KIT Digital (Nasdaq: KITD) with a Market Perform.

Credit Suisse starts Hatteras Financial (NYSE: HTS) with a Neutral and $29 target.

Stephens begins Symantec (Nasdaq: SYMC) with an Equal Weight and $17 target.

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

---

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

---

You May Also Be Interested In

• Midday movers: PepsiCo, JetBlue fall; GM, Danaher and UPS rise
• Spotify (SPOT) jumps 10% as Q1 revenue, gross margins beat Street's estimates
• After-hours movers: United Airlines, J.B. Hunt, and more