UPGRADES:
* Citigroup (C) to outperform: Keefe Bruyette
* Cisco (CSCO) to buy: MKM Partners
* Kinross Gold (KGC) to outperform: RBC Capital
* Kilroy Realty (KRC) to hold: Cantor
* Lennar (LEN) to neutral: Citigroup
* Liberty Media (LMCA) to buy: Citigroup
* Methanex (MEOH) to outperform: Raymond James
* Mercer (MERC) to buy: TD Securities
* Microchip Technology (MCHP) to buy: ThinkEquity
* On Semiconductor (ONNN) to buy: ThinkEquity
* PNC Financial (PNC) to buy: Deutsche Bank
* Tornier (TRNX) to outperform: BMO Capital
* Westport Innovations (WPRT) to sector outperformer: CIBC
* Zoltek (ZOLT) to buy: Needham
DOWNGRADES:
* Allegheny Technologies (ATI) to neutral: Cowen
* Agrium (AGU) to hold: TD Securities
* BB&T (BBT) to hold: Deutsche Bank
* Brooks Automation (BRKS) to underweight: Barclays
* Baidu (BIDU) to outperform: Raymond James
* Barclays (BCS) to neutral: UBS
* Basic Energy (BAS) to accumulate: Tudor Pickering
* Core Labs (CLB) to accumulate: Tudor Pickering
* Formfactor (FORM) to underweight: Barclays
* Fifth Third (FITB) to market perform: Wells Fargo
* Goldcorp (GG) to hold: Deutsche Bank
* Healthcare Services Group (HCSG) to hold: Benchmark Co.
* Idex (IEX) to perform: Oppenheimer
* KB Home (KBH) to sell: Citigroup
* MK Instruments (MKSI) to underweight: Barclays
* Old Dominion Freight (ODFL) to sector perform: RBC Capital
* Parkway Properties (PKY) to hold: Cantor
* RenaissanceRe (RNR) to neutral: Goldman Sachs
* Radisys (RSYS) to neutral: D.A. Davidson
* ServiceNow (NOW) to sell: UBS
* Starwood Hotels (HOT) to outperform: Raymond James
* Thor Industries (THO) to neutral: Robert Baird
* Telefonica (TEF) to sell: Espirito Santo
* Wells Fargo (WFC) to hold: Deutsche Bank
* Winnebago (WGO) to neutral: Robert Baird
* Whiting Petroleum (WLL) to neutral: SunTrust Robinson
* WR Berkley (WRB) to sell: Goldman Sachs
* XL Group (XL) to neutral: Goldman Sachs
INITIATIONS:
* Aruba Networks (ARUN) outperform: Wells Fargo
* API Technologies (ATNY) buy: C.K. Cooper
* American Express (AXP) buy: Drexel Hamilton
* Bank of America (BAC) buy: Drexel Hamilton
* BB&T (BBT) buy: Drexel Hamilton
* Citigroup (C) buy: Drexel Hamilton
* Capital One Financial (COF) buy: Drexel Hamilton
* CIT Group (CIT) hold: Drexel Hamilton
* Cepheid (CPHD) outperform: Cowen
* Caesars Entertainment (CZR) sell: ISI Group
* Dresser-Rand (DRC) buy: Natixis
* Genomic Health (GHDX) neutral: Cowen
* Hologic (HOLX) outperform: Cowen
* HSN Inc. (HSNI) hold: Topeka Capital
* Hillshire Brands (HSH) market perform: Wells Fargo
* Humana (HUM) outperform: Raymond James
* JPMorgan (JPM) buy: Drexel Hamilton
* Kraft Foods (KRFT) equalweight: Morgan Stanley
* Kraft Foods (KRFT) buy: Jefferies
* Kraft Foods (KRFT) buy: UBS
* Kraft Foods (KRFT) buy: Stifel Nicolaus
* Kraft Foods (KRFT) neutral: Citigroup
* Kraft Foods (KRFT) outperform: RBC Capital
* Kraft Foods (KRFT) outperform: Credit Suisse
* Kraft Foods (KRFT) outperform: BMO Capital
* Las Vegas Sands (LVS) hold: ISI Group
* Liberty Interactive (LINTA) buy: Topeka Capital
* Morgan Stanley (MS) buy: Drexel Hamilton
* Meridian Bioscience (VIVO) outperform: COwen
* Mead Johnson (MJN) outperform: Wells Fargo
* Mondelez Intl (MDLZ) buy: BofA Merrill
* Mondelez Intl (MDLZ) overweight: Barclays
* Mondelez Intl (MDLZ) buy: Citigroup
* Mondelez Intl (MDLZ) buy: Stifel Nicolaus
* Mondelez Intl (MDLZ) outperform: RBC Capital
* Mondelez Intl (MDLZ) market perform: BMO Capital
* MYR Group (MYRG) buy: D.A. Davidson
* MGM Resorts (MGM) hold: ISI Group
* New York Community Bancorp (NYB) hold: Drexel Hamilton
* Orasure (OSUR) neutral: Cowen
* PerkinElmer (PKI) neutral: Cowen
* Pinnacle Entertainment (PNK) hold: ISI Group
* Penn National (PENN) hold: ISI Group
* PNC Financial (PNC) hold: Drexel Hamilton
* Palo Alto Networks (PANW) market outperform: JMP Securities
* Quidel (QDEL) neutral: Cowen
* Regions Financial (RF) hold: Drexel Hamilton
* Radware (RDWR) market perform: Wells Fargo
* Sparks Networks (LOV) buy: Canaccord Genuity
* Synovus Financial (SNV) buy: Drexel Hamilton
* SunTrust Banks (STI) buy: Drexel Hamilton
* Tyler Technologies (TYL) buy: ThinkEquity
* U.S. Bancorp (USB) buy: Drexel Hamilton
* Wells Fargo (WFC) buy: Drexel Hamilton
* Wynn Resorts (WYNN) buy: ISI Group
* Yandkin Valley (YAVY) to hold: Stifel Nicolaus