Major investment upgrades/downgrades as of March 27

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.

Titul	Company	Target Price	Previous rec.	New rec.	Change
Supervalu	JP Morgan	-	Neutral	Overweight
National City	Lehman Brothers	-	Equal-weight	Overweight
Xcel Energy	Morgan Stanley	16,00	Equal-weight	Overweight
Gilead Sciences	Lehman Brothers	49,00	Equal-weight	Overweight
Heritage Property	Merrill Lynch	-	Buy	Neutral
Gen Growth Prop	Merrill Lynch	-	Buy	Neutral
Pan Pac Rtl Prop	Merrill Lynch	-	Buy	Neutral
Manuf. Home	Merrill Lynch	-	Buy	Neutral
Allergan	UBS Warburg	77,00	Buy	Neutral
Synovus	Lehman Brothers	18,00	Equal-weight	Underweight
Barrick Gold	Salomon Smith Barney	17,00	Outperform	In Line
Air Tran Holdings	Merrill Lynch	-	Buy	Neutral
Broadcom	Morgan Stanley	21,00	Overweight	Equal-weight
Entergy	UBS Warburg	54,00	Buy	Neutral
Corinthian Colleges	JP Morgan	-	Overweight	Neutral