Upgrades
Alcoa (AA)- Davenport Buy » Strong Buy
Delia’s (DLIA)- CL King Underperform » Neutral
Green Mtn Coffee (GMCR)- Canaccord Adams Hold » Buy
Big Lots (BIG)- Wedbush Morgan Buy » Strong Buy
Molson Coors Brewing (TAP)- Stifel Nicolaus Hold » Buy
CIT Group (CIT)- Stifel Nicolaus Hold » Buy
Anheuser-Busch (BUD)- Stifel Nicolaus Hold » Buy
Tsakos Energy (TNP)- Citigroup Sell » Hold
Rockwell Collins (COL)- JP Morgan Neutral » Overweight
National City (NCC)- Friedman Billings Underperform » Mkt Perform
Potash (POT)- RBC Capital Mkts Outperform » Top Pick
Grey Wolf (GW)- Credit Suisse Neutral » Outperform
PMC-Sierra (PMCS)- Lehman Brothers Equal-weight » Overweight
Microsemi (MSCC)- Lehman Brothers Equal-weight » Overweight
Intersil (ISIL)- Lehman Brothers Equal-weight » Overweight
Fairchild Semi (FCS)- Lehman Brothers Equal-weight » Overweight
Analog Devices (ADI)- Lehman Brothers Equal-weight » Overweight
FPL Group (FPL)- Lehman Brothers Equal-weight » Overweight
Xyratex (XRTX)- Wachovia Mkt Perform » Outperform
Hawaiian Airlines, Inc. (HA)- Bear Stearns Peer Perform » Outperform
CIGNA (CI)- UBS Neutral » Buy
Monsanto (MON)- UBS Neutral » Buy
Cameron (CAM)- Wachovia Mkt Perform » Outperform
Cresud SA (CRESY)- HSBC Securities Neutral » Overweight
Collective Brands (PSS)- Soleil Hold » Buy
Auxilium Pharma (AUXL)- Soleil Hold » Buy
Domtar (UFS)- Soleil Hold » Buy
Downgrades
Synplicity (SYNP)- DA Davidson Buy » Neutral
Cambrex (CBM)- KeyBanc Capital Mkts Buy » Hold
Piper Jaffray (PJC)- Sterne Agee Buy » Sell
Steelcase (SCS)- BB&T Capital Mkts Buy » Hold
Herman Miller (MLHR)- BB&T Capital Mkts Buy » Hold
Astoria Fincl (AF)- Sterne Agee Buy » Hold
InfoSpace (INSP)- Needham & Co Buy » Hold
Dime Community (DCOM)- FTN Midwest Buy » Neutral
Integra Bank (IBNK)- FTN Midwest Buy » Neutral
Cambrex (CBM)- First Analysis Sec Overweight » Equal-Weight
Textron (TXT)- Cowen & Co Outperform » Neutral
Hercules Offshore (HERO)- CapitalOne southcoast Add » Neutral
Cellcom Israel (CEL)- Jefferies & Co Buy » Hold
Winnebago Inds (WGO)- BB&T Capital Mkts Buy » Hold
CIT Group (CIT)- Oppenheimer Outperform » Perform
Symmetry Medical (SMA)- Wachovia Outperform » Mkt Perform
Gap Inc (GPS)- UBS Buy » Neutral
Selective Insurance (SIGI)- Banc of America Sec Buy » Neutral
Auxilium Pharma (AUXL)- Merriman Curhan Ford Neutral » Sell
Wells Fargo (WFC)- Robert W. Baird Neutral » Underperform
Lehman Brothers (LEH)- Oppenheimer Outperform » Perform
