Major investment upgrades/downgrades as of April 2

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. Below the table you will also find explanations of all terms used.

Stock	Company	Target Price	Previous rec.	New rec.	Change
Alltel	Goldman Sachs	-	Under Perform	In Line
Ann Taylor	Banc of America Sec	28,00	Neutral	Buy
Calpine	Salomon Smith Barney	4,00	Under Perform	In Line
Lea Corp	Goldman Sachs	-	In Line	Outperform
Terex Corp	Salomon Smith Barney	-	In Line	Outperform
Biomet	Merrill Lynch	-	Buy	Neutral
Chicago Mercantile	UBS Warburg	54,00	Buy	Neutral
Expeditors Intl	CSFB	40,00	Outperform	Neutral
Johnson & Johnson	Morgan Stanley	60,00	Overweight	Equal-weight
Millennium Chem	UBS Warburg	12,00	Buy	Neutral
Northwest Air	CSFB	18,00	Outperform	Neutral
Stryker	Merrill Lynch	-	Buy	Neutral