Credit Suisse First Boston analyst Scott Morrison upgraded the steel sector today, saying the group "is set to have a strong cyclical rally over the next year as pricing and volumes in the U.S. industry recover from extremely depressed levels." He upgraded three companies to buy from hold: AK Steel (AKS) - Get AK Steel Holding Corporation Report, Nucor (NUE) - Get Nucor Corporation Report and Worthington Industries (WOR) - Get Worthington Industries, Inc. Report.

Upgrades

BB&T

(BBT) - Get BB&T Corporation Report

: UP to intermediate-term accumulate from intermediate-term neutral at

Merrill Lynch

.

Commerce Bancorp

(CBH) - Get AllianzGI Convertible & Income 2024 Target Term Fund Report

: UP to intermediate-term accumulate from intermediate-term neutral at Merrill Lynch.

Triton Energy

(OIL) - Get iPath Series B S&P GSCI Crude Oil ETN Report

: UP to intermediate-term buy from accumulate at Merrill Lynch.

Downgrades

TheStreet Recommends

Radio Shack

(RSH)

: DOWN to market performer from market outperformer at

Goldman Sachs

.

Tellabs

(TLB)

: DOWN to long-term attractive from buy at

Robertson Stephens

.

Initiations

Encore Acquisition

(EAC)

: NEW recommended at Goldman Sachs.