TSC Ratings provides exclusive stock, ETF and mutual fund ratings and commentary based on award-winning, proprietary tools. Its "safety first" approach to investing aims to reduce risk while seeking solid outperformance on a total return basis.The following ratings changes were generated on Wednesday, April 22. We've upgraded financial services company Bank of New York ( BK) from hold to buy, driven by its largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. The 0.7 debt-to-equity ratio is below the industry average, implying a relatively successful effort in the management of debt levels. The 90.9% gross profit margin has increased significantly from the same period last year. Revenue fell 32.3% since the year-ago quarter, and EPS also fell, though we anticipate the company's two-year pattern of declining EPS to reverse over the coming year. Net income fell 50.5% compared with the year-ago quarter, frin $746 million to $369 million. We've downgraded financial services and products provider Comerica ( CMA) from hold to sell, driven by its decline in stock price during the past year, feeble growth in its earnings per share and disappointing return on equity. EPS are down in the most recent quarter compared with the same quarter last year, and we anticipate that the company's two-year trend of declining EPS should continue in the coming year. Return on equity has decreased from the year-ago quarter, implying weakness within the corporation. Net income fell 91.7% since the year-ago quarter, from $109 million to $9 million, and revenue is down 30.7%. Shares have fallen 34.8% over the past year, in part reflecting the overall decline in the broad market. Despite the heavy decline in its share price, this stock is still more expensive (when compared to its current earnings) than most other companies in its industry.