Upgrades
Massey Energy (MEE)- Howard Weil Market Perform » Market Outperform
W&T Offshore (WTI)- Howard Weil Market Perform » Market Outperform
Callon Petroleum (CPE)- Howard Weil Market Perform » Market Outperform
Seacoast Banking (SBCF)- Sterne Agee Hold » Buy
MarineMax (HZO)- FTN Midwest Neutral » Buy
Mattel (MAT)- BMO Capital Markets Underperform » Market Perform
Fuel Systems Solutions (FSYS)- Broadpoint Capital Neutral » Buy
Gushan Environmental Energy (GU)- Piper Jaffray Neutral » Buy
Transocean (RIG)- JP Morgan Neutral » Overweight
Cameco (CCJ)- Friedman Billings Mkt Perform » Outperform
Alcoa (AA)- Friedman Billings Mkt Perform » Outperform
Steel Dynamics (STLD)- UBS Neutral » Buy
Nucor (NUE)- UBS Neutral » Buy
Xenoport (XNPT)- Friedman Billings Mkt Perform » Outperform
Centex (CTX)- UBS Neutral » Buy
Penn Va GP Hldgs (PVG)- Lehman Brothers Equal-Weight » Overweight
HDFC Bank (HDB)- Credit Suisse Neutral » Outperform
Sensient (SXT)- KeyBanc Capital Mkts Hold » Buy
Downgrades
EMC Corp (EMC)- Caris & Company Buy » Above Average
Premier Exhibitions (PRXI)- Dougherty & Company Buy » Neutral
Federal Signal (FSS)- BMO Capital Markets Market Perform » Underperform
Coca-Cola Ent (CCE)- Stifel Nicolaus Buy » Hold
SGX Pharma (SGXP)- Cantor Fitzgerald Buy » Hold
OfficeMax (OMX)- Piper Jaffray Buy » Neutral
Employers Holdings (EIG)- Keefe Bruyette Outperform » Mkt Perform
ACE Limited (ACE)- Citigroup Buy » Hold
Grupo Aeroportuario del Pacifico (PAC)- Citigroup Hold » Sell
NOVA Chemicals (NCX)- Citigroup Hold » Sell
Matsushita Elec (MC)- Credit Suisse Outperform » Neutral
H.B. Fuller (FUL)- KeyBanc Capital Mkts Buy » Hold
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