Top Analyst Upgrades and Downgrades (ARO, AGU, AIZ, CYH, CYS, EXPD, HMA, HLF, IEP, IBM, NTAP, NFLX, QCOM, SI, THC)

Aeropostale Inc. (NYSE: ARO) cut to sell with $10 target at Goldman Sachs.

Agrium Inc. (NYSE: AGU) cut to Neutral at Piper Jaffray.

Assurant Inc. (NYSE: AIZ) raised to Neutral from Underperform at Stern Agee.

Community Health Systems Inc. (NYSE: CYH) cut to Hold from Buy at Deutsche Bank.

CYS Investments Inc. (NYSE: CYS) raised to Outperform with $14 target at KBW.

Expeditors International of Washington Inc. (NASDAQ: EXPD) maintained Buy but removed from Conviction Buy List at Goldman Sachs.

Health Management Associates Inc. (NYSE: HMA) cut to Hold from Buy at Deutsche Bank.

Herbalife Ltd. (NYSE: HLF) cut to Neutral from Buy at D.A. Davidson.

Icahn Enterprises L.P. (NASDAQ: IEP) started as Buy with $66 price target at Jefferies.

International Business Machines Corp. (NYSE: IBM) raised to Buy from Neutral at UBS.

NetApp Inc. (NASDAQ: NTAP) cut to Neutral from Buy at UBS.

Netflix Inc. (NASDAQ: NFLX) started as Underweight with only a $115 price target at Evercore Partners; shares are only down marginally after closing at $169.36 Tuesday.

Qualcomm Inc. (NASDAQ: QCOM) reiterated Buy and raised estimates and price target to $75 from $74 at Stern Agee.

Siemens A.G. (NYSE: SI) raised to Neutral from Underperform at BNP Paribas.

Tenet Healthcare Corp. (NYSE: THC) cut to Hold at Deutsche Bank.

Merrill Lynch gave a list of stocks to short sell during earnings season.

Merrill Lynch sees upside earnings surprises from these eight large companies during earnings season.