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    Upgrades & Downgrades History
    UPGRADES & DOWNGRADES HISTORY 
    DateResearch FirmActionFromTo
    25-Jan-17BofA/MerrillDowngradeBuyNeutral
    17-Jan-17HSBC SecuritiesDowngradeBuyHold
    10-Jan-17GoldmanUpgradeNeutralBuy
    3-Jan-17Standpoint ResearchInitiatedAccumulate
    21-Nov-16Exane BNP ParibasDowngradeOutperformNeutral
    20-Sep-16ArgusInitiatedHold
    12-Jul-16CitigroupDowngradeBuyNeutral
    13-Jun-16MacquarieDowngradeOutperformNeutral
    20-Apr-16BofA/MerrillUpgradeNeutralBuy
    4-Mar-16NomuraInitiatedBuy
    19-Oct-15MacquarieUpgradeNeutralOutperform
    15-Jul-15GoldmanDowngradeBuyNeutral
    23-Jun-15NomuraUpgradeNeutralBuy
    8-Jun-15BofA/MerrillUpgradeUnderperformNeutral
    21-May-15MacquarieDowngradeOutperformNeutral
    21-May-15NomuraUpgradeReduceNeutral
    6-May-15Exane BNP ParibasUpgradeNeutralOutperform
    29-Apr-15BerenbergUpgradeHoldBuy
    28-Nov-12Robert W. BairdInitiatedOutperform
    12-Jan-11Barclays CapitalDowngradeOverweightEqual Weight
    20-Jul-10DavenportInitiatedStrong Buy
    16-Jul-10JefferiesInitiatedBuy
    9-Feb-10Barclays CapitalUpgradeEqual WeightOverweight
    28-Oct-09Barclays CapitalInitiatedEqual Weight
    14-Jul-09UBSDowngradeBuyNeutral
    16-Apr-09BernsteinUpgradeMkt PerformOutperform
    3-Apr-09Credit SuisseUpgradeNeutralOutperform
    3-Sep-08Credit SuisseDowngradeOutperformNeutral
    22-Jul-08Edward JonesUpgradeHoldBuy
    15-Apr-08BernsteinInitiatedOutperform
    2-Apr-08Bear StearnsUpgradePeer PerformOutperform
    16-Jan-08Lehman BrothersDowngradeOverweightEqual-weight
    24-Oct-07JP MorganUpgradeNeutralOverweight
    6-Aug-07CitigroupUpgradeHoldBuy
    10-Apr-07Bear StearnsUpgradeUnderperformPeer Perform
    1-Feb-07Deutsche SecuritiesDowngradeBuyHold
    22-Jan-07UBSUpgradeNeutralBuy
    11-Jan-07Lehman BrothersUpgradeEqual-weightOverweight
    5-Dec-06Goldman SachsUpgradeNeutralBuy
    4-Dec-06Credit SuisseUpgradeNeutralOutperform
    15-Nov-06Deutsche SecuritiesUpgradeHoldBuy
    10-Nov-06JP MorganUpgradeUnderweightNeutral
    10-Oct-06BernsteinUpgradeMkt PerformOutperform
    6-Oct-06Deutsche SecuritiesDowngradeBuyHold
    7-Sep-06Lehman BrothersDowngradeOverweightEqual-weight
    10-Aug-06JP MorganDowngradeNeutralUnderweight
    11-Jul-06UBSDowngradeBuyNeutral
    5-Jul-06Deutsche SecuritiesUpgradeHoldBuy
    10-Apr-06JP MorganUpgradeUnderweightNeutral
    6-Mar-06Lehman BrothersUpgradeEqual-weightOverweight
    6-Mar-06CitigroupUpgradeHoldBuy
    21-Feb-06JP MorganDowngradeNeutralUnderweight
    13-Jan-06Bear StearnsDowngradePeer PerformUnderperform
    16-Nov-05JP MorganDowngradeOverweightNeutral
    16-Nov-05Bear StearnsDowngradeOutperformPeer Perform
    13-Jul-05Goldman SachsUpgradeIn-LineOutperform
    14-Dec-04Goldman SachsDowngradeOutperformIn-Line
    24-Jun-04Schwab SoundviewDowngradeOutperformNeutral
    17-Feb-04Smith Barney CitigroupDowngradeBuyHold
    5-Jan-04Goldman SachsUpgradeIn-LineOutperform
    10-Jul-03JP MorganDowngradeOverweightUnderweight
    11-Jun-03Goldman SachsDowngradeOutperformIn-Line
    21-Jan-03Merrill LynchUpgradeNeutralBuy
    5-Dec-02CSFBDowngradeOutperformNeutral
    26-Nov-02Deutsche SecuritiesDowngradeBuyHold
    12-Sep-02UBS WarburgDowngradeStrong BuyHold
    14-Jun-02SoundView TechnologyInitiatedStrong Buy
    7-May-02Goldman SachsDowngradeRecomm ListMkt Outperform
    25-Apr-02Salomon Smth BrnyUpgradeOutperformBuy
    18-Jan-02Merrill LynchUpgradeNT BuyNT Strong Buy
    14-Jan-02ABN AMROUpgradeHoldAdd
    14-Nov-01JP MorganDowngradeBuyMkt Perform
    24-Oct-01Merrill LynchDowngradeNT BuyNT Accum
    24-Oct-01ABN AMROUpgradeHoldAdd
    20-Sep-01Deutsche Bc Alex. BrUpgradeBuyStrong Buy
    5-Sep-01BernsteinUpgradeMkt PerformOutperform
    31-Aug-01Morgan StanleyDowngradeOutperformNeutral
    11-Jul-01BernsteinUpgradeUnderperformMkt Perform
    23-May-01Morgan StanleyDowngradeStrong BuyOutperform
    21-May-01Robertson StephensInitiatedMkt Performer
    11-Sep-00Bear StearnsInitiatedBuy
    21-Aug-00Mrgn Stnly Dn WttrInitiatedStrong Buy
    2-May-00DLJInitiatedBuy
    20-Jan-00Schroder & CoUpgradePerform-In-LineOutperform
    10-Jan-00CSFBUpgradeBuyStrong Buy
    5-Nov-99Merrill LynchInitiatedNT Buy/LT Buy
    6-Oct-99Schroder & CoDowngradeOutperformPerform-In-Line
    22-Sep-99Lehman BrothersUpgradeOutperformBuy
    9-Aug-99Salomon Smth BrnyInitiatedOutperform
    20-Jan-99Salomon Smth BrnyUpgradeNeutralOutperform
    11-Aug-98Mgn Stnly Dn WitterUpgradeOutperformStrong Buy
    3-Jun-98Morgn Stnly Dn WttrUpgradeNeutralOutperform
    2-Jun-98BT Alex. BrownUpgradeMkt PerformBuy

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