Upgrades
- Telenor (TELNY) upgraded by Berenberg from Sell to Hold
- Reckitt Benckiser (RBGLY) upgraded by Berenberg from Hold to Buy
- HCP (HCP) upgraded by Goldman from Neutral to Buy
- Phillips 66 Partners (PSXP) upgraded by Citi from Neutral to Buy
- Extended Stay America (STAY) upgraded by Stifel from Hold to Buy
- Melco Crown (MPEL) upgraded by Nomura from Reduce to Neutral
- Alcoa (AA) upgraded by Citi from Neutral to Buy
- Alcoa (AA) upgraded by Deutsche Bank from Sell to Hold
- JetBlue (JBLU) upgraded by JPMorgan from Neutral to Overweight
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Downgrades
- ONEOK (OKE) downgraded by Citi from Buy to Neutral
- j2 Global (JCOM) downgraded by Citi from Buy to Neutral
- Alumina (AWCMY) downgraded by Deutsche Bank from Hold to Sell
- BT Group (BT) downgraded by Berenberg from Buy to Hold
- Coach (COH) downgraded by CLSA from Buy to Outperform
- CyrusOne (CONE) downgraded by Citi from Neutral to Sell
- Polaris Industries (PII) downgraded by Wunderlich from Buy to Hold
- GenVec (GNVC) downgraded by Rodman & Renshaw from Buy to Neutral
- Tenneco (TEN) downgraded by Susquehanna from Positive to Neutral
- Southwest (LUV) downgraded by JPMorgan from Overweight to Neutral
- Hyatt (H) downgraded by Berenberg from Buy to Hold
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