MORNING COFFEE

Bank of America Needs More Assets. To meet compliance with the new capital rules, BofA (BAC) is considering the sale of additional assets.  The struggling bank according to an analyst thinks BofA will need an additional $45 billion in capital by 2019.  The bank has already sold off $50 billion in assets Jan. 2010, and according to the analysts the bank may not have many big ticket items left to sell. 

Upgrades

VMware (VMW): Oppenheimer raised their rating from Perform to Outperform and placed a target price of $100.00 on the company. Pre-market: 84.97 +1.30 (1.55%)

Downgrades

Time Warner (TWX): Caris lowered their rating from Buy to Above Average and maintained a target price of $42.00 on the company. Pre-market: 35.42 -0.54 (-1.50%)

Coverage Initiated

Delphi Automotive (DLPH): Robert W. Baird initiated coverage with an Outperform rating and target price of $29.00. Pre-market: 22.50 +0.56 (2.55%)

Delphi Automotive (DLPH): Credit Suisse initiated coverage with an Outperform rating and target price of $34.00. Pre-market: 22.50 +0.56 (2.55%)

Delphi Automotive (DLPH): JP Morgan initiated coverage with an Outperform rating and target price of $34.00. Pre-market: 22.50 +0.56 (2.55%)

Delphi Automotive (DLPH): Goldman Sachs initiated coverage with a Buy rating and target price of $34.00. Pre-market: 22.50 +0.56 (2.55%)

Delphi Automotive (DLPH): Citigroup initiated coverage with a Neutral rating and target price of $25.00. Pre-market: 22.50 +0.56 (2.55%)

Delphi Automotive (DLPH): RW Baird initiated coverage with a Outperform rating and target price of $29.00. Pre-market: 22.50 +0.56 (2.55%)

Markets: 
Futures at 9:02: Dow -0.14%. S&P -0.26%. Nasdaq +0.07%. Crude+0.08% to $99.76. Gold -0.67% to $1595.40. 

Europe: London closed. Paris +0.5%. Frankfurt +0.4%. 

Asia: Japan -0.5% to 8441. Hong Kong closed. China -1.1% to 2166. India -0.6% to 15874.