Top Analyst Upgrades and Downgrades (BK, CPHD, C, DOLE, FITB, FSLR, FSL, ILMN, JNJ, JPM, LULU, MSFT, SKT, TXT, UA, URBN, USB, WFC)
Bank of New York Mellon Corp. (NYSE: BK) cut to Neutral at Citigroup.
Cepheid Inc. (NASDAQ: CPHD) cut to Neutral at Piper Jaffray.
Citigroup Inc. (NYSE: C) raised to Conviction Buy List with $49 target at Goldman Sachs.
Dole Food Co. Inc. (NYSE: DOLE) cut to Underperform at BofA/Merrill Lynch.
Fifth Third Bancorp (NASDAQ: FITB) cut to Outperform at Raymond James.
First Solar Inc. (NASDAQ: FSLR) cut to Underperform at Raymond James.
Freescale Semiconductor Inc. (NYSE: FSL) cut to Neutral at J.P. Morgan.
Illumina Inc. (NASDAQ: ILMN) raised to Overweight at Piper Jaffray; cut to Neutral at Wedbush.
Johnson & Johnson (NYSE: JNJ) raised to Buy at Deutsche Bank.
J.P. Morgan Chase & Co. (NYSE: JPM) maintained Buy but removed from Conviction Buy List at Goldman Sachs.
Lululemon Athletica Inc. (NASDAQ: LULU) cut to Neutral at Credit Suisse.
Microsoft Corp. (NASDAQ: MSFT) cut to Hold at Argus, although this is still one of the DJIA with the most projected upside in 2013 by analysts.
Tanger Factory Outlet Centers Inc. (NYSE: SKT) cut to Sell at Goldman Sachs.
Textron Inc. (NYSE: TXT) raised to Outperform with $59 target at Credit Suisse.
Under Armour Inc. (NYSE: UA) raised to Outperform at Credit Suisse.
Urban Outfitters Inc. (NASDAQ: URBN) raised to Outperform at Credit Suisse.
U.S. Bancorp (NYSE: USB) raised to Buy at Deutsche Bank.
Wells Fargo & Co. (NYSE: WFC) cut to Neutral at Goldman Sachs.