Major investment upgrades/downgrades as of April 16

Every morning, Patria publishes a list of U.S. stocks which had their investment recommendations changed the previous day. In the first part of the table you will find titles with recommendation upgrade, the second part on the contrary presents titles with recommendation downgrade. Previous and current investment rating is included, as well as the name of the rating institution (i.e. investment bank) and/or the target price.

Stock	Company	Target Price	Previous rec.	New rec.	Change
Altria	Merrill Lynch	37.00	Neutral	Buy
Amdocs	Salomon Smith Barney	-	In Line	Outperform
BRE Properties	Salomon Smith Barney	-	Under Perform	In Line
Sempra Energy	CSFB	-	Neutral	Outperform
Ford Motor	Goldman Sachs	-	Under Perform	In Line
Amdocs	Merrill Lynch	-	Neutral	Buy
Amdocs	JP Morgan	-	Neutral	Overweight
Ryder System	CSFB	-	Neutral	Outperform
Ciena	Morgan Stanley	-	Equal-weight	Underweight
Southwest Gas	Merrill Lynch	-	Buy	Neutral
Prentiss Prop	Salomon Smith Barney	-	In Line	Under Perform
Safeway	Salomon Smith Barney	-	Outperform	In Line
General Motors	Goldman Sachs	-	In Line	Under Perform
LandAmerica Fin	CSFB	43.00	Neutral	Under Perform
CompuCredit	UBS Warburg	5.00	Neutral	Reduce
City National	Lehman Brothers	44.00	Overweight	Underweight