Upgrades and downgrades before the market open

Market news

3 May 2016

Upgrades and downgrades before the market open

Upgrades:

Downgrades:

Intl Paper (IP) downgraded to Hold from Buy at Jefferies

United Tech (UTX) downgraded to Sector Perform at RBC Capital Mkts; target lowered to $108

Barrick Gold (ABX) downgraded to Hold from Buy at Canaccord Genuity

Other:

Tesla Motors (TSLA) reiterated with a Buy at Stifel; target $325

Wal-Mart (WMT) initiated with a Underperform at RBC Capital Mkts; target $66

Building permits in Australia climb 3.7% in March

Foreign exchange market. European session: the British pound traded lower against the U.S. dollar after the release of the weaker-than-expected manufacturing PMI data from the U.K.

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