Upgrades
AYI – Acuity Brands coverage assumed with a Buy at ThinkEquity
HD – Home Depot upgraded to Outperform from Sector Perform at RBC Capital
CVS – CVS Caremark upgraded to Outperform from Sector Perform at RBC Capital
TOLL – Toll Brothers upgraded to Buy from Neutral at Citigroup
GRPN – Groupon initiated with a Buy at The Benchmark Company
PIR – Pier 1 Imports initiated with an Outperform at Wells Fargo
PAY – VeriFone initiated with a Buy at Citigroup
IACI – InterActiveCorp resumed with a Hold at Needham
WES – Western Gas Partners upgraded to Outperform from Neutral at Credit Suisse
LL – Lumber Liquidators upgraded to Buy from Neutral at Goldman
HERO – Hercules Offshore resumed with a Hold at Dahlman Rose
MYL – Mylan Labs initiated with a Market Perform at Leerink Swann
FLR – Fluor upgraded to Buy from Neutral at Lazard
UDR – UDR upgraded to Buy from Neutral at Janney Montgomery Scott
Downgrades
K – Kellogg downgraded to Market Perform from Outperform at William Blair
NEE – NextEra Energy downgraded to Hold from Buy at Jefferies
CLF – Cliffs Natural Resources target lowered to $115 at FBR Capital
ADM – Archer-Daniels initiated with a Neutral at Ticonderoga
FLT – FleetCor initiated with a Neutral at Citigroup
DHI – DR Horton downgraded to Neutral from Buy at Citigroup
APH – Amphenol downgraded to Sell at Ticonderoga
GRPN – Groupon initiated with a Neutral at Susquehanna
WXS – Wright Express initiated with a Neutral at Citigroup
AGU – Agrium target lowered to $109 at Ticonderoga
IBI – Interline Brands downgraded to Market Perform from Outperform at William Blair
CLC – CLARCOR downgraded to Hold from Buy at BB&T
VE – Veolia Environnement downgraded to Underweight from Neutral at JP Morgan
ALU – Alcatel-Lucent downgraded to Sell from Reduce at WestLB
SEB – Spectra Energy LP downgraded to Mkt Perform at Morgan Keegan
SD – SandRidge Energy downgraded to Equal Weight at boutique firm
MED – Medifast downgraded to Hold from Buy at Canaccord Genuity
SNN – Smith & Nephew downgraded to Neutral from Outperform at Credit Suisse
VRTX – Vertex Pharm downgraded to Sector Perform from Outperform at RBC Capital
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