• Upgrades and downgrades before the market open:

Market news

3 January 2013

Upgrades and downgrades before the market open:

Upgrades:
Cisco Systems (CSCO) upgraded to Outperform at RBC Capital Mkts; ests raised and tgt raised to $24 from $21
JPMorgan Chase (JPM) upgraded to Mkt Underperform  from Mkt Perform at JMP Securities.
Bank of America (BAC) upgraded to Mkt Underperform  from Mkt Perform at JMP Securities.
Citigroup (C) upgraded to Mkt Underperform  from Mkt Perform at JMP Securities.
Morgan Stanley (MS) upgraded to Mkt Underperform  from Mkt Perform at JMP Securities.
Goldman Sachs (GS) upgraded to Mkt Underperform  from Mkt Perform at JMP Securities.
Downgrades:
UnitedHealth (UNH) downgraded to Hold from Buy at Deutsche Bank.

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