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    Upgrades & Downgrades History
    UPGRADES & DOWNGRADES HISTORY 
    DateResearch FirmActionFromTo
    22-Sep-16MacquarieUpgradeNeutralOutperform
    14-Jul-16HSBC SecuritiesDowngradeBuyHold
    8-Mar-16Credit SuisseUpgradeUnderperformNeutral
    18-Feb-16BofA/MerrillUpgradeNeutralBuy
    16-Nov-15Exane BNP ParibasDowngradeOutperformNeutral
    6-Oct-15BarclaysDowngradeEqual WeightUnderweight
    14-Sep-15NomuraDowngradeNeutralReduce
    24-Aug-15MacquarieDowngradeNeutralUnderperform
    30-Jul-15BerenbergDowngradeBuyHold
    18-Jun-15Raymond JamesInitiatedOutperform
    1-Jun-15JefferiesUpgradeHoldBuy
    29-May-15MacquarieDowngradeOutperformNeutral
    27-Apr-15BofA/MerrillDowngradeBuyNeutral
    23-Nov-12HSBC SecuritiesUpgradeUnderweightNeutral
    18-Feb-10BernsteinUpgradeMkt PerformOutperform
    22-Jan-10CitigroupDowngradeBuyHold
    18-Dec-09JP MorganDowngradeNeutralUnderweight
    1-Jun-09UBSDowngradeBuyNeutral
    18-May-09CitigroupUpgradeHoldBuy
    15-Dec-08JP MorganUpgradeNeutralOverweight
    24-Jun-08BernsteinUpgradeMkt PerformOutperform
    12-May-08Deutsche SecuritiesUpgradeHoldBuy
    15-Apr-08BernsteinInitiatedMkt Perform
    26-Mar-08Bear StearnsUpgradeUnderperformPeer Perform
    4-Mar-08Credit SuisseDowngradeNeutralUnderperform
    11-Feb-08CitigroupDowngradeBuyHold
    14-Jan-08Bear StearnsDowngradePeer PerformUnderperform
    21-Nov-07Lehman BrothersDowngradeEqual-weightUnderweight
    1-Nov-07Bear StearnsDowngradeOutperformPeer Perform
    4-Sep-07CitigroupUpgradeHoldBuy
    26-Oct-06Bear StearnsUpgradePeer PerformOutperform
    9-May-06Deutsche SecuritiesUpgradeHoldBuy
    10-Mar-06CitigroupUpgradeSellHold
    13-Jan-06Bear StearnsUpgradeUnderperformPeer Perform
    9-Jan-06Goldman SachsUpgradeUnderperformIn-Line
    24-Jan-05Bear StearnsDowngradeOutperformUnderperform
    5-Jan-05Lehman BrothersDowngradeEqual-weightUnderweight
    5-Jan-00Lehman BrothersUpgradeOutperformBuy
    30-Sep-99Bear StearnsDowngradeBuyNeutral
    30-Sep-99HSBC SecuritiesDowngradeST BuyST Hold
    6-Aug-99Goldman SachsDowngradeTrading BuyMarket Perform
    6-Jul-99Lehman BrothersUpgradeNeutralOutperform
    21-Jul-98BT Alex. BrownUpgradeMkt PerformStrong Buy
    22-May-98BT Alex. BrownInitiatedMkt Perform

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