Major investment upgrades/downgrades as of March 26

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
Andrx	UBS Warburg	13.00	Neutral	Buy
Xcel Energy	Robert W. Baird	16.00	Neutral	Outperform
Best Buy	Banc of America Sec	32.00	Buy	Neutral
CDW Computer	Morgan Stanley	45.00	Overweight	Equal-weight
Guidant	UBS Warburg	42.00	Buy	Neutral
Honeywell	UBS Warburg	25.00	Buy	Neutral
Medtronic	UBS Warburg	52.00	Buy	Neutral
Network Associates	CSFB	-	Outperform	Neutral