These are this Monday morning’s top ten Wall Street analyst upgrades, downgrades, and initiations we have seen with close to 2 hours until the market opens:
Autodesk (ADSK) Cut to Hold at Deutsche Bank.
Boeing (BA) Cut to Equal Weight at Barclays.
BE Aerospace (BEAV) Raised to Outperform at FBR.
Exelon (EXC) Cut to Hold at KeyBanc.
OptionsXpress (OXPS) Raised to Neutral from Sell at Merriman Curhan Ford.
Royal Caribbean (RCL) Raised to Buy at S&P.
UnitedHealth (UNH) Raised to Outperform at Credit Suisse.
T. Rowe Price (TROW) Raised to Market Perform at FBR.
Western Union (WU) Started as Buy at Citigroup.
Yamana Gold (AUY) Cut to Sector Perform at CIBC.
Jon C. Ogg
July 27, 2009
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The offer from NRG Energy, Inc. (NYSE:NRG) to buy the retail business of Reliant Energy Inc. (NYSE:RRI) for $287.5 million has now drawn some attention from Fitch Ratings. As one might expect, the benefits to Reliant outweigh the benefits to NRG, at least that’s what Fitch thinks.
Reliant Energy Inc. (NYSE: RRI) is taking a hit this morning. It wasn’t just the earnings loss, or its plans to sell a unit. This really appears to be over the ramifications of the long-term aspects colliding with the near term aspects. The company suddenly finds itself nestled inside this merger fight between NRG Energy, Inc. (NYSE: NRG) and Exelon Corporation (NYSE: EXC).


