Global Payments ( GPN) downgraded at Stifel from Buy to Hold, HCA ( HCA) downgraded at Auriga from Buy to Hold. $28 price target. Industry still faces macro headwinds. Hess ( HES) downgraded at Deutsche from Buy to Hold, Deutsche Bank said. $62 price target. Company has a very aggressive spending program in 2012. Hologic ( HOLX) downgraded at Stifel from Buy to Hold, Stifel Nicolaus said. Valuation call. Illumina ( ILMN) upgraded at Baird to Outperform, Robert Baird said. $60 price target. Stock likely to trade above Roche's hostile bid. Illinois Tool Works ( ITW) upgraded at BofA/Merrill from Underperform to Buy, Bank of America/Merrill Lynch said. $64 price target. Company is cutting costs and deserves a higher price multiple. Knight Transportation ( KNX) upgraded at BofA/Merrill from Neutral to Buy, Bank of America/Merrill Lynch said. Valuation call, based on a $20 price target. Life Technologies ( LIFE) upgraded at Leerink from Market Perform to Outperform, Leerink Swann said. Nextgen sequencing is an attractive growth area. Netflix ( NFLX) upgraded at Citigroup to Buy from Neutral, Citigroup said. $130 price target. Strong quarter and positive guidance. OGE Energy ( OGE) downgraded at Jefferies to Hold from Buy, Jefferies said. $58.50 price target. Lower assumed processing and gathering volumes at Enogex. Progressive ( PGR) downgraded at Goldman to Sell. $18 price target. Pricing trends are better in the commercial lines. Sally Beauty ( SBH) rated new Neutral at Goldman. $22 price target. Company has limited earnings upside potential. Charles Schwab ( SCHW) downgraded at JP Morgan to Neutral. Estimates also cut, given a lower net interest margin and a difficult sales environment. St. Jude ( STJ) upgraded at Canaccord from Hold to Buy. $50 price target. Guidance will likely prove to be conservative. Thomson Reuters ( TRI) downgraded at Goldman from Neutral to Sell. $25 price target. Company is leveraged to weaker financial services and European demand. Trustmark ( TRMK) downgraded at KBW to Underperform, Keefe, Bruyette & Woods said. Valuation call, based on a $21 price target. Estimates also cut. Textron ( TXT) upgraded at Earlybird to Buy, Earlybird Capital said. $30 price target. End-market demand is improving and the company has operating leverage.