Upgrades
- British American Tobacco (BTI) upgraded by Goldman from Sell to Neutral
- Chevron (CVX) upgraded by Societe Generale from Hold to Buy
- AmeriGas (APU) upgraded by Jefferies from Hold to Buy
- MarkWest Energy (MWE) upgraded by Jefferies from Hold to Buy
- Questar (STR) upgraded by Jefferies from Hold to Buy
- Coca-Cola Femsa (KOF) upgraded by Goldman from Neutral to Buy
- Rice Energy (RICE) upgraded by Citi from Sell to Neutral
- Whiting Petroleum (WLL) upgraded by Citi from Neutral to Buy
- Concho Resources (CXO) upgraded by Citi from Neutral to Buy
- FactSet (FDS) upgraded by BTIG from Sell to Neutral
- Southwest Gas (SWX) upgraded by Jefferies from Hold to Buy
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Downgrades
- Coty (COTY) downgraded by Citi from Buy to Neutral
- EP Energy (EPI) downgraded by Citi from Neutral to Sell
- Energen (EGN) downgraded by Citi from Buy to Neutral
- Devon Energy (DVN) downgraded by Oppenheimer from Outperform to Perform
- Agrium (AGU) downgraded by CLSA from Outperform to Underperform
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