UPGRADES
MAXIMUS MMS KeyBanc Capital Mkts Buy » Aggressive Buy
Genesis Microchip GNSS Jefferies & Co Underperform » Hold
ACADIA Pharmaceuticals ACAD JMP Securities Mkt Outperform » Strong Buy
SAFECO SAF Friedman Billings Underperform » Mkt Perform
BankAtlantic BBX Friedman Billings Underperform » Mkt Perform
Acergy ACGY Lehman Brothers Equal-weight » Overweight
Repsol SA REP Lehman Brothers Underweight » Equal-weight
DOWNGRADES
Akamai Tech AKAM Cowen & Co Outperform » Neutral
Celgene CELG Cowen & Co Outperform » Neutral
Western Alliance Bancorp WAL Sandler O’Neill Hold » Sell
Charles River CRL UBS Buy » Neutral
Cincinnati Bell CBB Bear Stearns Outperform » Peer Perform
Flanders FLDR JMP Securities Mkt Perform » Mkt Underperform
EDO Corp EDO Friedman Billings Outperform » Mkt Perform
Franklin Bank Corp FBTX Keefe Bruyette Mkt Perform » Underperform
Lukoil LUKOY Lehman Brothers Overweight » Equal-weight
SAP AG SAP Credit Suisse Outperform » Underperform
Hertz Global HTZ Banc of America Sec Buy » Neutra
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