Upgrades
- Novo Nordisk (NVO) upgraded by Deutsche Bank from Sell to Hold
- GlaxoSmithKline (GSK) upgraded by Deutsche Bank from Hold to Buy
- Bayer (BAYRY) upgraded by Jefferies from Hold to Buy
- Merck (MRK) upgraded by Jefferies from Hold to Buy
- Kansas City Southern (KSU) upgraded by BMO Capital from Underperform to Market Perform
- Trulia (TRLA) upgraded by Goldman from Neutral to Buy
- Mattson Technology (MTSN) upgraded by Needham from Hold to Buy
- DSM (RDSMY) upgraded by BofA/Merrill from Neutral to Buy
- Eli Lilly (LLY) upgraded by Jefferies from Underperform to Hold
- Sempra Energy (SRE) upgraded by Barclays from Equal Weight to Overweight
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Downgrades
- Royal Bank of Scotland (RBS) downgraded to Sell from Neutral by Citigroup
- Lloyds Banking (LYG) downgraded by Citigroup from Buy to Neutral
- Exelon (EXC) downgraded by Deutsche Bank from Buy to Hold
- Artisan Partners (APAM) downgraded by Citigroup from Buy to Neutral
- Align Technology (ALGN) downgraded by Jefferies from Buy to Hold
- St. Jude Medical (STJ) downgraded by Canaccord from Hold to Sell
- Broadcom (BRCM) downgraded by Susquehanna from Positive to Neutral
- FirstEnergy (FE) downgraded by Credit Suisse from Outperform to Neutral
- Antofagasta (ANFGY) downgraded by Societe Generale from Hold to Sell
- Flextronics (FLEX) downgraded by Raymond James from Outperform to Market Perform
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Upgrades & Downgrades provided by Theflyonthewall.com 
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