Abaxis Inc. (NASDAQ: ABAX) was raised to Neutral from Underperform at Bank of America Merrill Lynch.
AK Steel Holding Corp. (NYSE: AKS) was raised to Buy from Neutral with a $6 price target (versus a $4.60 close) at Goldman Sachs.
Alcatel-Lucent S.A. (NYSE: ALU) shares are trading lower after the announcement that it will raise $2 billion or so. Still, it was raised to Buy from Neutral at UBS, and it was also raised to Neutral in Europe by BNP Paribas.
Antero Resources Corp. (NYSE: AR) started as Outperform with a $66 price target at Credit Suisse; Barclays assigned an Overweight rating.
BP PLC (NYSE: BP) was raised to Equal Weight from Underweight at Morgan Stanley.
Cell Therapeutics Inc. (NASDAQ: CTIC) was started as Buy with a $4 price target (versus a $1.63 close) at boutique firm H.C. Wainwright.
Gap Inc. (NYSE: GPS) was downgraded to Neutral from Buy and the price target was lowered to $40 from $42 (versus a $36.78 close) at Goldman Sachs.
General Dynamics Corp. (NYSE: GD) was reiterated as Buy and the price target raised to $100 from $98 (versus a $87.15 close) at Argus.
Invesco Ltd. (NYSE: IVZ) was reiterated as Buy with a target price of $38 (versus a $33.84 close), based on positive momentum and valuation, at Argus.
Potash Corp. of Saskatchewan Inc. (NYSE: POT) was raised to Neutral from Underweight at HSBC.
Royal Bank of Scotland Group PLC (NYSE: RBS) was raised to Hold from Sell at Soc-Gen.
Sempra Energy (NYSE: SRE) was reinstated as Buy with a $102 price target (versus a $91.72 close) at Bank of America Merrill Lynch.
Steel Dynamics Inc. (NASDAQ: STLD) was raised to Buy from Neutral with a $22 price target (versus a $18.44 close) at Goldman Sachs.
Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) was downgraded to Underweight from Neutral at J.P. Morgan.
U.S. Steel Corp. (NYSE: X) was raised to Buy from Neutral with a $30 price target (versus a $25.78 close) at Goldman Sachs.
Hedge funds may have started a great rotation out of U.S. stocks.
Also read: 10 Serious Reasons Apple Sold Off Rather Than Rallying
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