Notable Analyst Rating Changes 05/31: (JBLU) (ZNGA) (TEF) Upgraded; (CLF) (AMLN) (CHRW) Downgraded

UPGRADES
UBS raises JetBlue Airways (Nasdaq: JBLU) from Neutral to Buy, its price target raised from $6 to $8. Click Here for more color.

Baird upgrades Zynga (Nasdaq: ZNGA) from Neutral to Outperform with a price target of $13. Click Here for more color.

Morgan Stanley raises Telefonica S.A. (NYSE: TEF) from Underweight to Equalweight.

Maxim Group boosts Renren Inc (NYSE: RENN) from Sell to Hold.

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

DOWNGRADES
BofA/Merrill Lynch downgrades Cliffs Natural Resources (NYSE: CLF) from Buy to Neutral.

Baird trims Amylin Pharmaceuticals (Nasdaq: AMLN) from Outperform to Neutral, maintains price target of $28.

FBR Capital chops C.H. Robinson Worldwide (Nasdaq: CHRW) from Outperform to Market Perform, its price target lowered from $74 to $65.

Sterne Agee reduces Finish Line (Nasdaq: FINL) from Buy to Neutral with a price target of $25.

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

NEW COVERAGE
Morgan Stanley starts Intel (Nasdaq: INTC) at Underweight. Click Here for more color.

Wells Fargo initiates Owens Corning (NYSE: OC) with an Outperform and valuation range of $37 - $39. Click Here for more color.

Wedbush assumes Universal Display (Nasdaq: PANL) at Neutral and $32 target. Click Here for more color.

Global Hunter Securities begins Alpha Natural Resources (NYSE: ANR) with a Neutral. Click Here for more color.

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

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