Upgrades
PNW – Pinnacle West upgraded to Outperform at RBC Capital Mkts
NLY – Annaly Capital Mgmt upgraded to Buy from Neutral at Lazard
TRMB – Trimble Navigation upgraded to Buy at Canaccord Genuity
RDC – Rowan Cos upgraded to Neutral from Underperform at Credit Suisse
KIOR – KiOR initiated with a Buy at Goldman
S – Sprint Nextel upgraded to Neutral from Underperform at Macquarie
CHH – Choice Hotels upgraded to Neutral from Underperform at Credit Suisse
PNW – Pinnacle West upgraded to Outperform from Sector Perform at RBC Capital
CBS – CBS target raised to $33 from $30 at The Benchmark Company
DEO – Diageo plc upgraded to Buy from Hold at Deutsche Bank
UNP – Union Pacific upgraded to Outperform from Market Perform at BMO Capital
GGP – Gen Growth Prop upgraded to Market Perform from Underperform at Keefe Bruyette
PTEN – Patterson-UTI upgraded to Outperform from Market Perform at Wells Fargo
MDRX – Allscripts-Misys Healthcare upgraded to Strong Buy from Outperform at Raymond James
Downgrades
PFCB – PF Chang’s downgraded to Sell at Argus
BHP – BHP Billiton downgraded to Neutral from Outperform at Credit Suisse
F – Ford Motor removed from Conviction Buy List at Goldman
DIOD – Diodes downgraded to Neutral at Sterne Agee
TXN – Texas Instruments downgraded to Neutral at Sterne Agee
ADI – Analog Devices downgraded to Neutral at Sterne Agee
BCS – Barclays PLC downgraded to Hold from Buy at RBS
LQDT – Liquidity Services downgraded to Perform from Outperform at Oppenheimer
OSG – Overseas Shipholding downgraded to Sell from Hold at Deutsche Bank
PVA – Penn Virginia downgraded to Neutral from Buy at Suntrust
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