NEW YORK ( TheStreet) -- CHANGE IN RATINGS Autozone ( AZO) was upgraded at Credit Suisse to Outperform. Valuation call, based on a $440 price target, Credit Suisse said. Bristol-Myers ( BMY) was initiated with an Outperform rating at BMO Capital. $39 price target. Company's growth potential is underestimated by the market, BMO Capital said. Cavium ( CAVM) was downgraded at UBS to Neutral from Buy. $26 price target. Macro raises risks to growth, UBS said. Canadian Pacific ( CP) was upgraded at Citigroup to Buy from Neutral. $90 price target. Proxy battle ends, turnaround begins, Citi said. Cypress ( CY) was downgraded at UBS to Neutral from Buy. $13.75 price target. Less conviction on cycle strength and operating margins, UBS said. Gamestop ( GME) was downgraded at Caris & Company from Buy to Average. $20 price target. Company is seeing lower store traffic, Caris & Company said. Hub Group ( HUBG) was upgraded at Stifel Nicolaus from Hold to Buy. Valuation call, based on a $41 price target, Stifel Nicolaus said. Kansas City Southern ( KSU) was upgraded at BMO Capital from Underperform to Neutral. Valuation call, as the stock is down 16% over the past two weeks, BMO Capital said. $68 price target. Eli Lilly ( LLY) was rated new Market Perform at BMO Capital. $37 price target. Company is facing multiple patent expiration cliffs, BMO Capital said. Merck ( MRK) was initiated with a Market Perform rating at BMO Capital. Valuation call, based on a $43 price target. Morgan Stanley ( MS) was upgraded at UBS to Buy from Neutral. $19 price target. Much of the downside seems priced in, with plenty of leverage to the upside, UBS said. Petrobras ( PBR) was upgraded at Societe Generale to Buy from Neutral. $25 price target. Stock is attractively valued, following a 38% decline, Societe Generale said. Pepco Holdings ( POM) was initiated with a Neutral rating at Citigroup. $19 price target. Overhang from several rate case proceedings, Citigroup said. Phillips 66 ( PSX) was initiated with a Buy rating at UBS. $37 price target. Embedded logistics valuation at forefront, UBS said. Bankrate ( RATE) was downgraded at Goldman Sachs from Buy to Neutral. Valuation call, based on a $25 price target, Goldman Sachs said.