Upgrades
C – Citigroup upgraded to Outperform from Neutral at Credit Suisse
CAE – CAE initiated with an Outperform at Scotia
AGP – Amerigroup upgraded to Neutral from Underperform at BofA/Merrill
SFY – Swift Energy initiated with a Buy at Brean Murray
KIOR – KiOR resumed with a Neutral from Buy at Citigroup
LEAP – Leap Wireless target raised to $18 at Hudson Square Research
PPS – Post Properties upgraded to Neutral from Underweight at JP Morgan
XYL – Xylem initiated with a Neutral at Robert W. Baird
Downgrades
PANL – Universal Display initiated with an Underweight at Piper Jaffray
BCS – Barclays PLC downgraded to Neutral from Buy at UBS
TEF – Telefonica S.A. downgraded to Hold from Buy at Deutsche Bank
HL – Hecla Mining downgraded to Market Perform from Outperform at BMO Capital
TRNX – Tornier downgraded to Neutral from Overweight at JP Morgan
NUVA – NuVasive downgraded to Mkt Perform at Rodman & Renshaw
OSIS – OSI Systems downgraded to In Line at Imperial Capital
AVP – Avon Products downgraded to Hold from Buy at Jefferies
ARMH – ARM Holdings initiated with a Hold at Canaccord Genuity
RYL – Ryland Group downgraded to Hold from Buy at Keybanc
LM – Legg Mason downgraded to Sell at Ticonderoga
VOLC – Volcano downgraded to Market Perform from Outperform at JMP Securities
CRK – Comstock downgraded to Hold at Stifel Nicolaus
SKT – Tanger Factory downgraded to Hold from Buy at Jefferies
ACN – Accenture downgraded to Equal Weight from Overweight at Barclays
CHH – Choice Hotels downgraded to Neutral from Buy at Nomura
BAP – Credicorp LTD downgraded to Underweight from Neutral at HSBC
NVDA – NVIDIA downgraded to Hold from Buy at Canaccord Genuity
CP – Canadian Pacific downgraded to Market Perform from Outperform at BMO Capital
HMY – Harmony Gold initiated with a Buy at Deutsche Bank
AU – Anglogold initiated with a Buy at Deutsche Bank
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