08:17 am LKQ upgraded to Outperform at Robert W. Baird; tgt raised to $38: . Baird upgrades LKQ to Outperform from Neutral and raises its tgt to $38 from $34 after meeting with key European leaders within the organization. Investors have begun to appreciate the collision strategy in Europe, where alternative part utilization rates are low, but may not appreciate the opportunity to consolidate the mechanical part market as well. Firm considers LKQ a premium mid-cap growth story with the potential to sustain EPS growth near 20%-30% through organic growth, acquisitions, and operating leverage.

08:16 am Agilent downgraded to Hold at Stifel on valuation + lack of NT catalyst post announced spin-off: . Stifel downgrades A to Hold from Buy due to valuation. Additionally, firm sees limited upside potential to shares from current levels given lack of a near-term catalysts post Agilent's announced split into two focused market leaders consisting of the "New Agilent" (inclusive of LDA assets) and a "New Electronic Measurement" company (consisting of EMG assets).

08:16 am Valmont downgraded to Hold at Stifel: . Stifel downgrades VMI to Hold from Buy. After several years of powerful growth in several of Valmont's businesses, firm now believes the uncertainty around continued organic growth and the ability to maintain margins as markets weaken in likely to create a continued overhang on VMI shares for the next few quarters. Firm reduced its 2014 estimates for the following reasons 1) Lower expected revenue growth and margins in Utility, 2) Lower expected revenue growth and margins in Irrigation, 3) Lower expected revenue growth and margins in Coatings.