Upgrades
- East West Bancorp (EWBC) upgraded by DA Davidson from Neutral to Buy
- Union Pacific (UNP) upgraded by Deutsche Bank from Hold to Buy
- Spirit Airlines (SAVE) upgraded by JPMorgan from Neutral to Overweight
- Zayo Group (ZAYO) upgraded by JPMorgan from Neutral to Overweight
- Aspen Technology (AZPN) upgraded by Canaccord from Hold to Buy
- On Deck Capital (ONDK) upgraded by UBS from Neutral to Buy
- Imperial Oil (IMO) upgraded by Macquarie from Underperform to Neutral
- America Movil (AMX,AMOV) upgraded by UBS from Neutral to Buy
- Alaska Air (ALK) upgraded by Goldman Sachs from Buy to Conviction Buy
- Teekay LNG (TGP) upgraded by Stifel from Hold to Buy
Downgrades
- YY (YY) downgraded by JPMorgan from Overweight to Neutral
- Danone (DANOY) downgraded by Goldman Sachs from Neutral to Sell
- Telecom Italia (TI) downgraded by Goldman Sachs from Buy to Neutral
- Eaton Vance (EV) downgraded by JPMorgan from Neutral to Underweight
- Coca-Cola Amatil (CCLAY) downgraded by Citi from Neutral to Sell
- China Gas Holdings (CGHLY) downgraded by Jefferies from Hold to Underperform
- Whirlpool (WHR) downgraded by Credit Suisse from Outperform to Neutral
- Beacon Roofing (BECN) downgraded by Longbow from Buy to Neutral
- Encana (ECA) downgraded by Macquarie from Outperform to Neutral
- CME Group (CME) downgraded by UBS from Buy to Neutral
- TransMontaigne (TLP) downgraded by UBS from Buy to Neutral
- Cracker Barrel (CBRL) downgraded by Gordon Haskett from Hold to Underperform
- Enagas (ENGGY) downgraded by JPMorgan from Neutral to Underweight
- Ceragon Networks (CRNT) downgraded by Needham from Buy to Hold
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