UPGRADES:
* AllianceBernstein (AB) to neutral: BofA Merrill
* Canadian Pacific (CP) to outperform: BMO Capital
* Carter’s (CRI) to buy: Sterne, Agee
* Coach (COH) to overweight: Morgan Stanley
* FaceBook (FB) to buy: Pivotal Research
* FMC Technologies (FTI) to market perform: BMO Capital
* Gentiva Health (GTIV) to buy: Deutsche Bank
* LSI Corp. (LSI) to outperform: CLSA
* Lumber Liquidators (LL) to neutral: Janney
* Marvell Tech. (MRVL) to market outperform: JMP Securities
* Telefonica (TEF) to hold: Berenberg
DOWNGRADES:
* ArcelorMittal (MT) to hold: ING
* Avon Products (AVP) market perform: Wells Fargo
* Caterpillar (CAT) to market perform: Wells Fargo
* Chico’s (CHS) to underweight: Morgan Stanley
* Cliffs Natural (CLF) cut to market perform: FBR
* CR Bard (BCR) to hold: Jefferies
* Eastman Chemical (EMN) buy: Lazard Capital
* Ferro (FOE) to neutral: Credit Suisse
* Groupon (GRPN) to equal-weight: Evercore
* International Game Tech. (GT) to netural: UBS
* Intersil (ISIL) to hold: Needham
* Lorillard (LO) to neutral: Citigroup
* Lincoln Educational (LINC) to underperform: BofA Merrill
* MeadWestvaco (MWV) to market perform: BMO
* MGIC Investment (MTG) to neutral: Macquarie
* Potash (POT) to underperform: National Bank
* Quality Systems (QSII) to neutral: JPMorgan
* Radian (RDN) to neutral: Macquarie
* Ross Stores (ROST) to neutral: Nomura
* Seadrill (SDRL) to hold: Danske Markets
* TJX (TJX) to neutral: Nomura
* Weatherford (WFT) to sell: SocGen
* Wellpoint (WLP) to market perform: BMO
* Varian Medical (VAR) to hold: Cantor
* Zynga (ZNGA) to neutral: BTIG
* Zynga (ZNGA) to neutral: JPMorgan
INITIATIONS:
* Avon Products (AVP) market perform: Wells Fargo
* Eastman Chemical (EMN) buy: Lazard Capital
* Horsehead Holding (ZINC) buy: CRT
* Solta Medical (SLTM) buy: ThinkEquity
* Urban Outfitters (URBN) buy: CLS