Upgrades:
Downgrades:
NIKE (NKE) downgraded to Hold from Buy at Argus
Bank of America (BAC) downgraded to Neutral from Buy at Citigroup
Alphabet A (GOOGL) downgraded to Market Perform from Outperform at BMO Capital
Other:
Caterpillar (CAT) added to Conviction Buy List at Goldman
United Tech (UTX) added to US 1 List at BofA/Merrill; maintain Buy, target $130
IBM (IBM) initiated with a Sell at Berenberg; target $140
Cisco Systems (CSCO) initiated with a Hold at Berenberg
Hewlett Packard Enterprise (HPE) initiated with a Hold at Berenberg