U.S. ANALYST RATINGS: Upgrades, Downgrades, Initiations

UPGRADES:
  * BroadSoft (BSFT) raised to buy: Goldman
  * Concho Resources (CXO) raised to outperform: Wells Fargo
  * Facebook (FB) raised to market perform: Bernstein
  * Horizon Technology (HRZN) raised to buy: UBS
  * Hudson City Bancorp (HCBK) raised to buy: Guggenheim Partners
  * Luminex (LMNX) raised to neutral: Piper
  * Meridian Bioscience (VIVO) raised to neutral: Wedbush
  * Nanosphere (NSPH) raised to overweight: Piper
  * On Assignment (ASGN) raised to buy: Deutsche Bank
  * Sprint (S) raised to overweight: Altantic Equities
  * USANA Health Services (USNA) raised to buy: Canaccord


DOWNGRADES:
  * Advent Software (ADVS) cut to neutral: Wedbush
  * Anadigics (ANAD) cut to hold: Needham
  * Arthur J Gallagher (AJG) cut to equalweight: Barclays
  * Blackrock Kelso (BKCC) cut to neutral: UBS
  * Boardwalk Pipeline Partners (BWP) cut to neutral: Credit Suisse
  * Brown & Brown (BRO) cut to equalweight: Barclays
  * CafePress (PRSS) cut to neutral: Cowen
  * Chicago Bridge & Iron (CBI) cut to neutral: Credit Suisse
  * Dendreon (DNDN) cut to hold: Deutsche Bank
  * Dendreon (DNDN) cut to neutral: JPMorgan
  * Ensco (ESV) cut to reduce: Swedbank
  * Knightsbridge Tankers (VLCCF) cut to underweight: Evercore
  * Legg Mason (LM) cut to negative: Susquehanna
  * Lincoln Electric (LECO) cut to gradually accumulate: Wellington
  * Lindsay (LNN) cut to neutral: Wedbush
  * Luminex (LMNX) cut to market peform: William Blair
  * Pitney Bowes (PBI) cut to hold: Brean Murray
  * PMC-Sierra (PMCS) cut to hold: Jefferies
  * PMC-Sierra (PMCS) cut to hold: Wunderlich Securities
  * Salix Pharma (SLXP) cut to hold: ThinkEquity
  * Tessera (TRSA) cut to underperform: BOFAML
  * Tower Group (TWGP) cut to market perform: Keefe
  * UNS Energy Corp (UNS) cut to neutral: DA Davidson
  * Vertex Pharmaceuticals (VRTX) cut to neutral: Piper


INITIATIONS:
  * Cablevision Systems (CVC) new hold: Jefferies
  * Charter Communications (CHTR) new hold: Jefferies
  * Comcast Corp (CMCSA) new buy: Jefferies
  * DFC Global (DLLR) new outperform: Credit Suisse
  * DirecTV (DTV) new buy: Jefferies
  * DISH Network (DISH) new hold: Jefferies
  * Exelon (EXC) new equalweight: Morgan Stanley
  * Limoneira (LMNR) new buy: Roth Capital
  * OmniVision Technologies (OVTI) new overweight: Stephens
  * ReachLocal (RLOC) new buy: ThinkEquity
  * Time Warner Cable (TWC) new buy: Jefferies
  * US Steel (X) new sell: Axiom Capital
  * Watsco (WSO) new neutral: Lazard