UPGRADES:
* Access Midstream (ACMP) outperform: Morgan Stanley
* Broadcom (BRCM) to outperform: RBC Capital
* BMC Software (BMC) to buy: ThinkEquity
* Jive (JIVE) to outperform: Wells Fargo
* Lamar Advertising (LAMR) to conviction buy: Goldman Sachs
* Liberty Media (LMCA) to outperform: Macquarie
* Manhattan Associates (MANH) to buy: ThinkEquity
* Pall Corp. (PLL) to neutral: BofA Merrill
* Rubicon Technology (RBCN) to buy: ThinkEquity
DOWNGRADES:
* Aviva (AV) to neutral: BofA Merrill
* Abbott Labs (ABT) to market perform: Leerink Swann
* Analog Devices (ADI) to sector perform: RBC Capital
* American Capital Agency (AGNC) to hold: Jefferies
* Alcoa (A) to hold: Jefferies
* Bed Bath & Beyond (BBBY) to perform: Oppenheimer
* Boston Scientific (BSX) to market perform: Leerink Swann
* BP (BP) to hold: Santander
* CARBO Ceramics (CRR) to hold: Dahlman Rose
* Cash America (CSH) to hold: Jefferies
* Delek US (DK) to neutral: Credit Suisse
* DFC Global (DLLR) to hold: Jefferies
* Deutsche Bank (DB) to sell: Espirito Santo
* France Telecom (FTE) to neutral: Exane
* France Telecom (FTE) to underperform: Morgan Stanley
* France Telecom (FTE) to underperform: Bernstein
* Health Net (HNT) to underperform: Jefferies
* IRIS International (IRIS) to hold: Benchamrk Co.
* Intel (INTC) to sector perform: RBC Capital
* Lumber Liquidators (LL) to underperform: Raymond James
* Marathon Petroleum (MPC) to neutral: Credit Suisse
* Molina Healthcare (MOH) to underperform: Jefferies
* Nvidia (NVDA) to sector perform: RBC Capital
* Optimer Pharma (OPTR) to underperform: BofA Merrill
* Penn West (PWE) to underperform: Macquarie
* Phillips 66 (PSX) to neutral: Credit Suisse
* Royal Dutch Shell (RDSA) to underweight: Santander
* Reliance Steel (RS) to hold: Jefferies
* Statoil (STO) to underweight: Santander
* Silgan (SLGN) to neutral: Longbow
* Schnitzer Steel (SCHN) to hold: Jefferies
* Steel Dynamics (STLD) to hold: Jefferies
* Texas Instruments (TXN) to sector perform: RBC Capital
* Western Refining (WNR) to neutral: Credit Suisse
* Worthington Industries (WOR) to hold: Jefferies
INITIATIONS:
* Allergan (AGN) buy: Guggenheim
* Albemarle (ALB) equalweight: Morgan Stanley
* A.O. Smith (AOS) buy: Janney Capital
* Bryn Mawr (BMTC) buy: Janney Capital
* Bloomin’ Brands (BLMN) hold: Deutsche Bank
* Beazer Homes (BZH) neutral: Goldman Sachs
* Clayton Williams Energy (CWEI) buy: Miller Tabak
* Carbo Ceramics (CRR) market perform: William Blair
* C&J Energy Services (CJES) outperform: Willliam Blair
* Cadence Pharam (CADX) buy: Guggenheim
* Dover Corp. (DOV) neutral: Citigroup
* FMC Technolgoies (FTI) outperform: William Blair
* Forum Energy (FET) outperform: William Blair
* Groupon (GRPN) neutral: Piper Jaffray
* Heartware (HTWR) buy: WallachBeth Capital
* Impax Labs (IPXL) buy: Guggenheim
* Intrepid Potash (IPI) buy: Topeka
* Jazz Pharma (JAZZ) buy: Guggenheim
* Mylan (MYL) neutral: Guggenheim
* National Oilwell Varco (NOV) outperform: William Blair
* Oil States (OIS) outperform: William Blair
* Old Line Bancshares (OLBK): Janney
* Pernix Therapeutics (PTX) buy: Guggenheim
* Perrigo (PRGO) buy: Guggenheim
* Schlumberger (SLB) market perform: William Blair
* Splunk (SPLK) positive: Susquehanna
* Sagent Pharma (SGNT) neutral: Guggenheim
* U.S. Silica Holdings (SLCA) market perform: William Blair
* QLIK Technologies (QLIK) neutral: Susquehanna
* Watson Pharma (WPI) buy: Guggenheim