Analysts' Upgrades, Downgrades: Citi

Change in Ratings

Citigroup(C Quote) added to Conviction Sell List at Goldman, based on multiple headwinds that include additional write-downs, higher consumer provisions due to credit trends and potential dividend cuts and/or capital raises. Price target cut to $16 from $20.

City National(CYN Quote) upgraded at KBW to outperform as the company's positioning, strong client base, solid market and conservative underwriting position them to outperform their peers. $48 price target.

GM(GM Quote) downgraded at Goldman Sachs to sell from neutral due to potential liquidity concerns. Note that cash flow burn over next two years is likely to force company to seek capital, diluting shareholders. Also note potential for dividend cut. Target lowered to $11 from $18.

Goldman Sachs(GS Quote) downgraded at Wachovia to market perform as economic fears, a slow pace of large capital raises and a slow prime brokerage due to seasonality affect operating revenues.

Intersil(IDTI Quote) downgraded at Merrill Lynch to underperform from neutral with a $27-$28.50 price target. The fundamental outlook for IDTI remains unchanged; however, it is rated less attractive than other stocks within its division. Even though the PC market remains strong the company is grappling with capacity issues that will limit short-term upside.

Lear(LEA Quote) downgraded at Goldman Sachs to sell from neutral. Price target cut to $16 from $28. Downgrade based primarily on the company's extremely large exposure to Big Three trucks as well as rising raw materials prices.

Lincare Holdings(LNCR Quote) upgraded at Wachovia to outperform as recent changes within Medicare affect drug prices. It is possible that LNCR can now earn an EBITDA of $390-$400 million for 2009. This is $50-$60 million over the previously established estimate.