Upgrades
Imperial Oil (IMO )- BMO Capital Markets Market Perform » Outperform
GSI Group (GSIG)- BMO Capital Markets Underperform » Market Perform Illinois Tool (ITW)- UBS Neutral » Buy
Parker-Hannifin (PH)- UBS Sell » Neutral
Teck Cominco (TCK)- RBC Capital Mkts Sector Perform » Outperform
Nalco (NLC)- Credit Suisse Underperform » Neutral
Plexus (PLXS)- Credit Suisse Neutral » Outperform
Maxwell Tech (MXWL)- JMP Securities Mkt Underperform » Mkt Perform
Sotheby’s (BID)- JMP Securities Mkt Perform » Mkt Outperform
Blockbuster (BBI)- JP Morgan Neutral » Overweight
Varian (VARI)- UBS Neutral » Buy
Downgrades
Petro-Canada (PCZ)- BMO Capital Markets Outperform » Market Perform
Kenneth Cole (KCP)- Sterne Agee Hold » Sell
Gehl (GEHL)- BMO Capital Markets Outperform » Market Perform
Quicksilver Resrcs (KWK)- CapitalOne southcoast Add » Neutral
Provident Bank (PBKS)- Sandler O’Neill Hold » Sell
Lexington (LXP)- Stifel Nicolaus Buy » Hold
Boyd Gaming (BYD)- KeyBanc Capital Mkts Hold » Underweight
TRW Automotive (TRW)- JP Morgan Overweight » Neutral
Lear (LEA)- JP Morgan Overweight » Neutral
Borg Warner (BWA )- JP Morgan Overweight » Neutral
Forest Labs (FRX)- Friedman Billings Outperform » Mkt Perform
First Potomac Realty (FPO)- Wachovia Mkt Perform » Underperform
RF Micro Device (RFMD)- Jefferies & Co Buy » Hold
Seagate Tech (STX)- Citigroup Buy » Hold
Western Digital (WDC)- Citigroup Buy » Hold
EnerNOC (ENOC)- Jefferies & Co Buy » Hold
SourceForge (LNUX)- MDB Capital Group Buy » Neutral
