Upgrades
- Merck KGaA (MKGAY) upgraded by Societe Generale from Sell to Hold
- ING U.S. (VOYA) upgraded by Deutsche Bank from Hold to Buy
- WEX Inc. (WEX) upgraded by Citigroup from Neutral to Buy
- Ulta Salon (ULTA) upgraded by Goldman from Neutral to Buy
- American Homes 4 Rent (AMH) upgraded by BofA/Merrill from Neutral to Buy
- El Paso Electric (EE) upgraded by Goldman from Sell to Neutral
- NRG Energy (NRG) upgraded by Goldman from Neutral to Conviction Buy
- Infinera (INFN) upgraded by Stifel from Hold to Buy
- Inphi (IPHI) upgraded by Stifel from Hold to Buy
- CEMEX (CX) upgraded by Longbow from Neutral to Buy
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Downgrades
- Bally Technologies (BYI) downgraded by Goldman from Neutral to Sell
- Williams (WMB) downgraded by Jefferies from Buy to Hold
- Williams Partners (WPZ) downgraded by Jefferies from Buy to Hold
- J.B. Hunt (JBHT) downgraded by BofA/Merrill from Buy to Neutral
- Under Armour (UA) downgraded by Sterne Agee from Buy to Neutral
- Westar Energy (WR) downgraded by Goldman from Buy to Neutral
- Xcel Energy (XEL) downgraded by Goldman from Neutral to Sell
- Ameren (AEE) downgraded by Goldman from Neutral to Sell
- NextEra Energy (NEE) downgraded by Goldman from Conviction Buy to Buy
- Enbridge Energy (EEP) downgraded by Janney Capital from Buy to Neutral
- Enbridge Energy Management (EEQ) downgraded by Janney Capital from Buy to Neutral
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