Investment Technology Group ( ITG) upgraded at Goldman to Neutral from Sell based on decreased downside potential. Shares have sold off due to lower volumes and market share, and now see limited catalysts to drive further declines. Price target at $18. King Pharmaceuticals ( KG) upgraded at Merrill/BofA to neutral from underperform and price target reduced to $8 from $9. Gut feeling that the stock is near a bottom and investor sentiment is bottoming, there are several fundamental issues that give pause: when/Embeda and Remoxy will be approved by the FDA, when generic versions of Skelaxin will be launched, how Thrombin JMI will fare in the face of increased competition, and when sales trends for Animal Health will improve. Kohl's ( KSS) upgraded at Merrill/BofA from Neutral to Buy. $40 price target. Valuation call, as earnings estimates have become more realistic. Nucor ( NUE) upgraded at UBS to Buy. Valuation call, as the company has a strong cash position and variable cost structure. Omnicom ( OMC) downgraded at Deutsche Bank from Hold to Sell. $19 price target. Company trades at a premium to its peers, and is operating in a difficult environment. PG&E ( PCG) downgraded at Credit Suisse from Outperform to Neutral. $42 price target. Valuation call, as the company has a lower dividend yield than its peers. US Cellular ( USM) upgraded at Morgan Stanley from Underweight to Equal-weight. Valuation call, as the stock has underperformed the baby bells by 2 times over the past month. Wal-Mart ( WMT) downgraded at Citigroup from Buy to Hold. $53 price target. Stock could be range-bound, while Congress discusses the Union bill.