Upgrades and downgrades before the market open

Market news

2 December 2014

Upgrades and downgrades before the market open

Upgrades:

Downgrades:

Travelers (TRV) downgraded to Neutral from Buy at BofA/Merrill

Other:

FedEx (FDX) target raised to $210 from $190 at Citigroup, maintain Buy

Microsoft (MSFT)initiated with a Overweight at JP Morgan

AT&T (T) initiated with a Underweight at HSBC Securities

Verizon (VZ) initiated with a Neutral at HSBC Securities

Apple (AAPL) target raised to $135 from $120, maintain Buy at Canaccord Genuity

DOW components before the bell

Option expiries for today's 10:00 ET NY cut

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