National Oilwell Varco ( NOV) was upgraded at Societe Generale from Hold to Buy. $85 price target. Stock has underperformed its peers of late, Societe Generale said. Onyx Pharmaceuticals ( ONXX) was initiated with an Outperform rating at Bernstein. $74 price target. Carfilzomib should ultimately help drive the company toward profitability, Bernstein said. PPG Industries ( PPG) was upgraded from Neutral to Buy at Bank of America/Merrill Lynch. $115 price target. Stock has pulled back, and the company should see lower raw material costs, BofA/Merrill said. RailAmerica ( RA) was downgraded at JP Morgan from Overweight to Neutral. $26 price target. Valuation call, as the stock is already up 61% on the year, JP Morgan said. Westlake Chemical ( WLK) was upgraded to Neutral from Sell at UBS. $54 price target. Stock is now near its fair price, UBS said. Watson Pharmaceuticals ( WPI) was upgraded at Wells Fargo from Market Perform to Outperform. Actavis acquisition should create higher earnings power, Wells said.