• Upgrades and downgrades before the market open:

Market news

15 January 2013

Upgrades and downgrades before the market open:

Downgrades:
American Express (AXP) downgraded to Underweight from Neutral at JP Morgan

Other:
Credit Suisse raises target of Caterpillar (CAT) to $124 From $108
Nomura cuts target of Apple (AAPL) to $530 from $660

Market Focus
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