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    Upgrades & Downgrades History
    UPGRADES & DOWNGRADES HISTORY 
    DateResearch FirmActionFromTo
    2-Jun-16UBSDowngradeNeutralSell
    15-Mar-16BofA/MerrillDowngradeNeutralUnderperform
    4-Jan-16Credit SuisseDowngradeNeutralUnderperform
    9-Sep-15Deutsche BankUpgradeHoldBuy
    8-Jun-15GoldmanInitiatedSell
    3-Jun-15Piper JaffrayInitiatedNeutral
    1-Jul-14UBSDowngradeBuyNeutral
    16-May-14Deutsche BankInitiatedHold
    11-Jul-13EvercoreInitiatedEqual Weight
    2-Dec-11TiconderogaDowngradeBuyNeutral
    28-Mar-11TiconderogaDowngradeBuyNeutral
    5-Jan-11FBR CapitalDowngradeOutperformMkt Perform
    27-Sep-10FBR CapitalUpgradeMkt PerformOutperform
    6-May-10UBSInitiatedBuy
    26-Mar-10Sterne AgeeInitiatedNeutral
    10-Dec-09Jefferies & CoInitiatedHold
    3-Sep-09Keefe BruyetteUpgradeMkt PerformOutperform
    6-Jul-09JP MorganUpgradeUnderweightOverweight
    24-Jun-09ArgusDowngradeBuyHold
    4-Jun-09Deutsche SecuritiesInitiatedBuy
    8-Apr-09Keefe BruyetteDowngradeOutperformMkt Perform
    5-Mar-09CitigroupInitiatedSell
    27-Oct-08Keefe BruyetteUpgradeMkt PerformOutperform
    14-Oct-08Credit SuisseDowngradeOutperformNeutral
    22-Sep-08Keefe BruyetteDowngradeOutperformMkt Perform
    15-Aug-08Stifel NicolausUpgradeHoldBuy
    12-Jun-08Keefe BruyetteUpgradeMkt PerformOutperform
    18-Apr-08JP MorganDowngradeNeutralUnderweight
    26-Feb-08Stifel NicolausInitiatedHold
    29-Nov-07Sandler O'NeillInitiatedBuy
    14-Nov-07JP MorganUpgradeUnderweightNeutral
    26-Oct-07Friedman BillingsDowngradeOutperformMkt Perform
    27-Jun-07Credit SuisseInitiatedOutperform
    5-Jun-07JP MorganDowngradeNeutralUnderweight
    17-May-07UBSDowngradeBuyNeutral
    20-Apr-07CitigroupInitiatedHold
    19-Apr-07JP MorganDowngradeOverweightNeutral
    12-Apr-07Deutsche SecuritiesInitiatedHold
    16-Mar-07Goldman SachsDowngradeBuyNeutral
    10-Oct-06PrudentialDowngradeOverweightNeutral
    28-Jul-06AG EdwardsUpgradeHoldBuy
    22-Jun-06JP MorganInitiatedOverweight
    19-May-06UBSUpgradeNeutralBuy
    4-May-06Bear StearnsUpgradePeer PerformOutperform
    4-May-06Keefe BruyetteUpgradeMkt PerformOutperform
    15-Feb-06Morgan StanleyUpgradeEqual-weightOverweight
    20-Dec-05PrudentialInitiatedOverweight
    12-Dec-05AG EdwardsDowngradeBuyHold
    22-Nov-05Goldman SachsInitiatedOutperform
    28-Oct-05Keefe BruyetteDowngradeOutperformMkt Perform
    14-Oct-05AG EdwardsUpgradeHoldBuy
    13-Jul-05AG EdwardsDowngradeBuyHold
    29-Apr-05AG EdwardsUpgradeHoldBuy
    9-Feb-05Merrill LynchUpgradeNeutralBuy
    4-Jan-05AG EdwardsDowngradeBuyHold
    2-Dec-04Morgan StanleyInitiatedEqual-weight
    29-Nov-04PrudentialUpgradeNeutralOverweight
    9-Nov-04Buckingham ResearchUpgradeAccumulateStrong Buy
    2-Nov-04Merrill LynchDowngradeBuyNeutral
    6-Oct-04Buckingham ResearchDowngradeStrong BuyAccumulate
    14-Sep-04UBSDowngradeBuyNeutral
    19-Jul-04Merrill LynchUpgradeNeutralBuy
    23-Apr-04Keefe BruyetteUpgradeMkt PerformOutperform
    20-Apr-04AG EdwardsUpgradeHoldBuy
    19-Feb-04AG EdwardsDowngradeBuyHold
    5-Feb-04Merrill LynchDowngradeBuyNeutral
    30-Jan-04PrudentialDowngradeOverweightNeutral
    23-Jan-04Keefe BruyetteDowngradeOutperformMkt Perform
    23-Dec-03Smith Barney CitigroupInitiatedHold
    21-Nov-03UBSUpgradeNeutralBuy
    26-Sep-03Deutsche SecuritiesInitiatedBuy
    11-Sep-03Friedman BillingsUpgradeMkt PerformOutperform
    19-Jun-03Merrill LynchUpgradeNeutralBuy
    5-Jun-03PrudentialInitiatedBuy
    19-May-03Putnam LovellUpgradeSector PerformOutperform
    6-May-03UBS WarburgInitiatedNeutral
    6-Dec-02CIBC Wrld MktsDowngradeSector OutperformSector Perform
    29-Oct-02Salomon Smth BrnyDowngradeOutperformIn-line
    22-Oct-02Keefe BruyetteDowngradeOutperformMkt Perform
    14-Oct-02Merrill LynchDowngradeNeutralSell
    23-May-02Goldman SachsUpgradeMkt OutperformRecomm List
    28-Mar-02Merrill LynchDowngradeNT BuyNT Neutral
    11-Mar-02Salomon Smth BrnyDowngradeBuyOutperform
    12-Feb-02JP MorganInitiatedLT Buy
    25-Jan-02Merrill LynchUpgradeNT NeutralNT Buy
    26-Nov-01Bear StearnsDowngradeAttractiveNeutral
    7-Nov-01Salomon Smth BrnyUpgradeOutperformBuy
    27-Sep-01Merrill LynchDowngradeNT AccumNT Neutral
    25-Sep-01Merrill LynchDowngradeNT BuyNT Accum
    20-Sep-01Morgan StanleyDowngradeOutperformNeutral
    22-Aug-01Friedman BillingsInitiatedBuy
    30-Jul-01UBS WarburgDowngradeBuyHold
    4-Jul-01Banc of America SecInitiatedMkt Perform
    3-Jul-01Banc of America SecInitiatedMkt Perform
    23-May-01AG EdwardsUpgradeAccumulateBuy
    27-Apr-01Dresdner Klnwrt WassDowngradeAddHold
    20-Apr-01Deutsche Bc Alex. BrInitiatedBuy
    23-Mar-01UBS PaineWebberUpgradeHoldBuy
    26-Jan-01AG EdwardsUpgradeMaintain PositionAccumulate
    24-Jan-01Merrill LynchUpgradeNT AccumNT Buy
    13-Oct-00CSFBInitiatedHold
    3-Oct-00Goldman SachsDowngradeRecommended ListMarket Outperform
    9-Aug-00Salomon Smth BrnyDowngradeBuyOutperform
    4-Aug-00Wasserstein PerellaInitiatedBuy
    6-Mar-00Lehman BrothersUpgradeOutperformBuy
    21-Dec-99Schroder & CoUpgradePerform-In-LineOutperf. Signif.
    23-Nov-99Mrgn Stnly Dn WttrUpgradeNeutralOutperform
    12-Nov-99PaineWebberInitiatedNeutral
    9-Nov-99Lehman BrothersInitiatedOutperform
    23-Jul-99Salomon Smth BrnyUpgradeOutperformBuy
    15-Jun-99Bear StearnsInitiatedAttractive
    23-Apr-99CIBC OppenheimerUpgradeHoldBuy
    12-Mar-99Mrgn Stnly Dn WttrDowngradeOutperformNeutral
    16-Dec-98Warburg Dlln RdInitiatedBuy
    23-Nov-98Mrgn Stnly Dn WttrUpgradeNeutralOutperform
    6-Nov-98Salomon Smth BrnyUpgradeNeutralOutperform
    26-Oct-98Schroder & CoDowngradeOutperformPerf.-in-Line
    7-Sep-98CIBC OppenheimerDowngradeStrong BuyHold
    4-Sep-98CIBC OppenheimerDowngradeStrong BuyHold
    22-Jun-98Mgn Stnly Dn WitterDowngradeOutperformNeutral

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