Upgrades:
Downgrades:
American Express (AXP) downgraded to Reduce from Neutral at Nomura
Tesla Motors (TSLA) downgraded to Neutral from Buy at Goldman; target lowered to $185 from $240
JPMorgan Chase (JPM) downgraded to Hold from Buy at Sandler O'Neil
Other:
Honeywell (HON) initiated with a Outperform at Robert W. Baird; target $135
United Tech (UTX) initiated with a Neutral at Robert W. Baird; target $110
Boeing (BA) initiated with a Outperform at Robert W. Baird; target $161