Upgrades
AA – Alcoa upgraded to Buy from Neutral at Davenport
HPQ – Hewlett-Packard upgraded to Buy from Hold at Auriga
SYK – Stryker upgraded to Buy from Hold at Lazard
POT – Potash upgraded to Outperform from Sector Perform at Scotia
PEG – Public Service upgraded to Buy from Hold at Citigroup
RAX – Rackspace upgraded to Outperform from Market Perform at Raymond James
NEM – Newmont Mining upgraded to Buy from Hold at Citigroup
UA – Under Armour initiated with a Buy at Canaccord Genuity
IR – Ingersoll-Rand downgraded to Underweight from Neutral at Atlantic Equities
ECL – Ecolab upgraded to Buy from Hold at Citigroup
SLM – SLM Corp upgraded to Outperform from Neutral at Credit Suisse
PII – Polaris Inds and Arctic Cat upgraded at Baird
Downgrades
MSFT – Microsoft downgraded to Neutral from Buy at Davenport
YZC – Yanzhou Coal Mining downgraded to Neutral from Overweight at HSBC Securities
NWSA – News Corp downgraded to Hold at Needham
EGO – Eldorado Gold downgraded to Buy from Action List Buy at TD Newcrest
CBS – CBS target lowered to $30 from $35 at Needham
ETN – Eaton downgraded to Underweight from Neutral at Atlantic Equities
APEI – American Public Education upgraded to Outperform from Market Perform at BMO Capital
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