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Upgrades & Downgrades History
UPGRADES & DOWNGRADES HISTORY 
DateResearch FirmActionFromTo
25-Jan-11HSBC SecuritiesDowngradeOverweightNeutral
7-Dec-09Deutsche BankUpgradeHoldBuy
16-Oct-09HSBC SecuritiesUpgradeNeutralOverweight
8-May-09UBSDowngradeBuyNeutral
26-Feb-09HSBC SecuritiesUpgradeUnderweightNeutral
8-Sep-08Credit SuisseInitiatedOutperform
11-Jul-08CitigroupDowngradeBuyHold
25-Mar-08JP MorganDowngradeOverweightNeutral
24-Jan-08Credit SuisseDowngradeNeutralUnderperform
18-Jan-08Lehman BrothersDowngradeOverweightUnderweight
30-Nov-07UBSInitiatedBuy
26-Nov-07Deutsche SecuritiesUpgradeHoldBuy
13-Apr-06Lehman BrothersUpgradeEqual-weightOverweight
1-Dec-04Deutsche SecuritiesUpgradeHoldBuy
13-Oct-04UBSDowngradeBuyNeutral
12-Mar-03JP MorganUpgradeNeutralOverweight
12-Feb-03Salomon Smth BrnyUpgradeIn-lineOutperform
21-Nov-02Banc of America SecUpgradeMkt PerformBuy
7-Nov-02Bear StearnsInitiatedUnderperform
18-Sep-02UBS WarburgDowngradeBuyHold
12-Sep-02Morgan StanleyDowngradeOverweightEqual-weight
6-Aug-02Merrill LynchUpgradeNT BuyNT Strong Buy
30-Jan-02Merrill LynchDowngradeNT Strong BuyNT Buy
3-May-01Goldman SachsUpgradeMkt OutperformRecomm List
15-Mar-01Banc of America SecInitiatedMkt Perform
8-Feb-01Salomon Smth BrnyDowngradeBuyOutperform
19-Jan-01Mrgn Stnly Dn WttrDowngradeStrong BuyOutperform
15-Dec-99Merrill LynchUpgradeNT AccumNT Buy
24-Nov-99ING BaringsUpgradeBuyStrong Buy
12-Oct-99Mrgn Stnly Dn WttrDowngradeStrong BuyOutperform
13-Sep-99Goldman SachsUpgradeMarket PerformMarket Outperform
10-Sep-99Deutsche Bc Alex. BrUpgradeBuyStrong Buy
13-Aug-99Lehman BrothersUpgradeOutperformBuy
20-Jul-99DLJDowngradeTop PickBuy
13-Jul-99Mrgn Stnly Dn WttrUpgradeOutperformStrong Buy
7-Jun-99BB Rbrtsn StphnsInitiatedBuy
23-Apr-99Mrgn Stnly Dn WttrUpgradeNeutralOutperform
2-Mar-99JP MorganInitiatedBuy
19-Jan-99HSBC SecuritiesUpgradeBuyAdd
18-Dec-98DLJUpgradeBuyTop Pick
22-Oct-98DLJDowngradeTop PickBuy
28-Sep-98Lehman Bros.UpgradeNeutralOutperform

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