Top Analyst Upgrades and Downgrades (AKS, AMAT, ADM, ARMH, BWP, CLF, COH, INTC, JOY, PBR, RLGY, RIMM, TDC, TSN, WFC, WFM)

AK Steel Corp. (NYSE: AKS) raised to Neutral at Goldman Sachs.

Applied Materials Inc. (NASDAQ: AMAT) reiterated as Buy with $16 target at Argus.

Archer Daniels Midland Co. (NYSE: ADM) raised to Outperform at BMO.

ARM Holdings PLC (NASDAQ: ARMH) cut to Outperform from Strong Buy at Raymond James.

Boardwalk Pipeline Partners. LP (NYSE: BWP) raised to Outperform at Credit Suisse.

Cliffs Natural Resources Inc. (NYSE: CLF) maintained Underperform but lowered estimates at Credit Suisse; cut to Sell at Goldman Sachs.

Coach Inc. (NYSE: COH) started as Outperform at Wells Fargo.

Intel Corp. (NASDAQ: INTC) cut to Neutral at UBS.

Joy Global Inc. (NYSE: JOY) raised to Market Perform at BMO.

Petroleo Brasileiro Petrobras S.A. (NYSE: PBR) cut to Market Perform at Raymond James.

Realogy Corp. (NYSE: RLGY) started as Neutral at Credit Suisse, started as Overweight at JPMorgan, started as Buy at BofA/ML and started as Neutral at Goldman Sachs.

Research In Motion Ltd. (NASDAQ: RIMM) raised to Hold at Jefferies.

Teradata Corp. (NYSE: TDC) started as Outperform with $80 target at Credit Suisse.

Tyson Foods (NYSE: TSN) maintained Neutral but raised target to $20 at Credit Suisse.

Wells Fargo & Co. (NYSE: WFC) maintained Neutral but raised estimates at Credit Suisse.

Whole Foods Market Inc. (NASDAQ: WFM) raised to Buy at Goldman Sachs.

JON C. OGG