UPGRADES:
* Aeropostale (ARO) raised to outperform: RBC Capital
* Arch Coal (ACI) raised to buy: Sterne
* Bunge (BG) raised to buy: Topeka
* Chico’s FAS (CHS) raised to overweight: Piper Jaffray
* Ciena (CIEN) raised to hold: Jefferies
* Con-way (CNW) raised to outperform: Baird
* Deere & Co (DE) raised to overweight: Piper Jaffray
* Helmerich & Payne (HP) raised to buy: Canaccord
* Noble Energy (NBL) raised to outperform: FBR Capital
* Petrologistics (PDH) raised to buy: Citi
* Phillips 66 (PSX) raised to overweight: Barclays
* Qiagen (QGEN) raised to buy: Metzler
* Saic Inc. (SAI) raised to neutral: Susquehanna
* Washington REIT (WRE) raised to buy: Stifel Nicolaus
DOWNGRADES:
* Annaly Capital (NLY) cut to underperform: Wells Fargo
* Buckle (BKE) cut to sell: Janney Montgomery
* Cerner (CERN) cut to neutral: Cowen
* Conceptus (CPTS) cut to neutral: Piper Jaffray
* Electronic Arts (EA) cut to neutral: Longbow
* Eli Lilly (LLY) cut to underperform: Jefferies
* Equinix (EQIX) cut to neutral: Citigroup
* Global Payments (GPN) cut to neutral: Cowen
* Gorman-rupp (GRC) cut to hold: Jefferies
* Graphic Packaging (GPK) cut to neutral: JP Morgan
* JP Morgan (JPM) cut to hold: Deutsche Bank
* KAR Auction Services (KAR) cut to neutral: Goldman
* Newell Rubbermaid (NWL) cut to equalweight: Morgan Stanley
* Pacific Biosciences (PACB) cut to underweight: Morgan Stanley
* Peet’s Coffee & Tea (PEET) cut to hold: KeyBanc
* Petsmart (PETM) cut to neutral: Nomura
* PulteGroup (PHM) cut to neutral: citigroup
* RailAmerica (RA) cut to equalweight: Stephens
* Salix Pharmaceuticals (SLXP) cut to hold: Cantor
* Salix Pharmaceuticals (SLXP) cut to neutral: Susquehanna
* Teledyne Technologies (TDY) cut to underweight: BB&T
* Washington Banking (WBCO) cut to sector perform: RBC Capital
* Weyerhaeuser (WY) cut to neutral: DA Davidson
INITIATIONS:
* AMC Networks (AMCX) new underweight: Evercore
* ARIAD Pharmaceuticals (ARIA) new outperform: William Blair
* Cirrus Logic (CRUS) new buy: Canaccord
* EQT Midstream Partners(EQM) new outperform: Wells Fargo
* SanDisk (SNDK) new hold: Needham
* Aeropostale (ARO) raised to outperform: RBC Capital
* Arch Coal (ACI) raised to buy: Sterne
* Bunge (BG) raised to buy: Topeka
* Chico’s FAS (CHS) raised to overweight: Piper Jaffray
* Ciena (CIEN) raised to hold: Jefferies
* Con-way (CNW) raised to outperform: Baird
* Deere & Co (DE) raised to overweight: Piper Jaffray
* Helmerich & Payne (HP) raised to buy: Canaccord
* Noble Energy (NBL) raised to outperform: FBR Capital
* Petrologistics (PDH) raised to buy: Citi
* Phillips 66 (PSX) raised to overweight: Barclays
* Qiagen (QGEN) raised to buy: Metzler
* Saic Inc. (SAI) raised to neutral: Susquehanna
* Washington REIT (WRE) raised to buy: Stifel Nicolaus
DOWNGRADES:
* Annaly Capital (NLY) cut to underperform: Wells Fargo
* Buckle (BKE) cut to sell: Janney Montgomery
* Cerner (CERN) cut to neutral: Cowen
* Conceptus (CPTS) cut to neutral: Piper Jaffray
* Electronic Arts (EA) cut to neutral: Longbow
* Eli Lilly (LLY) cut to underperform: Jefferies
* Equinix (EQIX) cut to neutral: Citigroup
* Global Payments (GPN) cut to neutral: Cowen
* Gorman-rupp (GRC) cut to hold: Jefferies
* Graphic Packaging (GPK) cut to neutral: JP Morgan
* JP Morgan (JPM) cut to hold: Deutsche Bank
* KAR Auction Services (KAR) cut to neutral: Goldman
* Newell Rubbermaid (NWL) cut to equalweight: Morgan Stanley
* Pacific Biosciences (PACB) cut to underweight: Morgan Stanley
* Peet’s Coffee & Tea (PEET) cut to hold: KeyBanc
* Petsmart (PETM) cut to neutral: Nomura
* PulteGroup (PHM) cut to neutral: citigroup
* RailAmerica (RA) cut to equalweight: Stephens
* Salix Pharmaceuticals (SLXP) cut to hold: Cantor
* Salix Pharmaceuticals (SLXP) cut to neutral: Susquehanna
* Teledyne Technologies (TDY) cut to underweight: BB&T
* Washington Banking (WBCO) cut to sector perform: RBC Capital
* Weyerhaeuser (WY) cut to neutral: DA Davidson
INITIATIONS:
* AMC Networks (AMCX) new underweight: Evercore
* ARIAD Pharmaceuticals (ARIA) new outperform: William Blair
* Cirrus Logic (CRUS) new buy: Canaccord
* EQT Midstream Partners(EQM) new outperform: Wells Fargo
* SanDisk (SNDK) new hold: Needham