Upgrades
- UniCredit (UNCFF) upgraded by Berenberg from Sell to Buy
- Grupo Aval (AVAL) upgraded by Goldman from Neutral to Buy
- Marriott (MAR) upgraded by MKM Partners from Neutral to Buy
- Manhattan Associates (MANH) upgraded by Benchmark Co.from Hold to Buy
- Sanofi (SNY) upgraded by Citigroup from Sell to Neutral
- Packaging Corp. (PHG) upgraded by Deutsche Bank from Hold to Buy
- Nokia (NOK) upgraded by Bernstein from Market Perform to Outperform
- Select Comfort (SCSS) upgraded by Wedbush from Neutral to Outperform
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Downgrades
- PartnerRe (PRE,AXS) downgraded by UBS from Buy to Neutral
- Banco Bradesco (BBD) downgraded by Goldman from Neutral to Sell
- Agrium (AGU,MON,DD,SYT) downgraded by Citigroup from Neutral to Sell
- TD Ameritrade (AMTD) downgraded by CLSA from Buy to Outperform
- Altera (ALTR,INTC,XLNX) downgraded by Piper Jaffray from Overweight to Neutral
- Chipotle (CMG) downgraded by Raymond James from Outperform to Market Perform
- Pentair (PNR) downgraded by Longbow from Buy to Neutral
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Upgrades & Downgrades provided by Theflyonthewall.com 
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