Upgrades:
DuPont (DD) upgraded to Outperform from Market Perform at Bernstein
Alcoa (AA) upgraded to Outperform from Neutral at Macquarie
Barrick Gold (ABX) upgraded to Buy from Neutral at Sterne Agee CRT
Downgrades:
United Tech (UTX) downgraded to Market Perform from Outperform at Bernstein
Freeport-McMoRan (FCX) downgraded to Neutral from Outperform at Macquarie
Other:
Microsoft (MSFT) initiated with a Outperform at BMO Capital Markets; target $64
Apple (AAPL) target lowered to $125 from $130 at Cowen
Apple (AAPL) target lowered to $146 from $160 at Canaccord Genuity