Upgrades
CNW – Con-way target raised to $38 from $35 at Stifel Nicolaus
SWK – Stanley Black & Decker upgraded to Buy at Argus
KIRK – Kirklands upgraded to Overweight from Neutral at Piper Jaffray
CVS – CVS Caremark upgraded to Overweight from Equal Weight at Morgan Stanley
EL – Estee Lauder target raised to $130 from $113 at Stifel Nicolaus
SLB – Schlumberger initiated with a Accumulate at Global Hunter Securities
PAA – Plains All Amer upgraded to Buy at Wunderlich
BIG – Big Lots upgraded to Outperform from Neutral at Wedbush
GGC – Georgia Gulf upgraded to Overweight from Neutral at JPMorgan
MCHP – Microchip upgraded to Buy from Neutral at UBS
TCK – Turkcell upgraded to Equal Weight from Underweight at Barclays
DNR – Denbury Resources upgraded to Buy from Outperform at Credit Agricole
WFT – Weatherford initiated with a Neutral at Global Hunter Securities
CHTR – Charter Comm initiated with a Buy at Citigroup
FSLR – First Solar upgraded to Buy from Neutral at Lazard
Downgrades
SD – SandRidge Energy downgraded to Hold at Stifel Nicolaus
CHS – Chico’s FAS downgraded to Neutral from Buy at Suntrust
SLF – Sun Life downgraded to Underweight from Equal Weight at Barclays
MDC – MDC Holdings downgraded to Neutral from Outperform at Credit Suisse
PDC – Pioneer Drilling downgraded to Mkt Perform at Morgan Keegan
MED – Medifast downgraded to Neutral from Buy at Janney Montgomery Scott
PCG – PG&E downgraded to Sector Perform from Outperform at RBC Capital
KRO – Kronos Worldwide downgraded to Market Perform from Outperform at Wells Fargo
SWKS – Skyworks downgraded to Sector Perform from Outperform at Pacific Crest
K – Kellogg downgraded to Hold at Stifel Nicolaus
MDC – MDC Holdings downgraded to Mkt Perform from Outperform at Raymond James
HS – Healthspring downgraded to Neutral from Buy at Citigroup
ITG – Investment Tech downgraded to Underperform from Mkt Perform at Raymond James
ELON – Echelon downgraded to Neutral from Outperform at Wedbush
RIG – Transocean downgraded to Mkt Perform at Morgan Keegan; tgt lowered to $48
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