NEW YORK ( TheStreet) -- CHANGE IN RATINGS:Alon USA ( ALJ) was downgraded at Goldman Sachs from buy to neutral. Valuation call, as the stock is up more than 33% since late December, Goldman said. $21 price target. Associated Banc-Corp ( ASBC) was downgraded at Oppenheimer to perform from outperform. Market has recognized turnaround, Oppenheimer said. Associated Banc-Corp was upgraded at Morgan Stanley to equal-weight. $14 price target. Management is turning the business around, Morgan Stanley said. AvalonBay Communities ( AVB) was downgraded at Jefferies to hold from buy. $135 price target. 2013 outlook disappointment, Jefferies said. Armstrong World ( AWI) was upgraded at Barclays from equal-weight to overweight. $64 price target. Company will continue to benefit from a housing shortage, Barclays said. Bed Bath & Beyond ( BBBY) was upgraded at Citigroup to buy from neutral. $67 price target. Compelling valuation and improving differentiation, Citigroup said. BB&T ( BBT) was upgraded at Guggenheim from neutral to buy. $38 price target. Company will likely raise its dividend in the near term, Guggenheim said. Baidu ( BIDU) was downgraded at Stifel Nicolaus from buy to hold. Company is spending more to invest in online video and mobile internet, Stifel said. Bank of NY Mellon ( BK) was downgraded at Guggenheim from buy to neutral. Valuation call, based on a $28 price target, Guggenheim said. Cullen/Frost Bankers ( CFR) was upgraded at Oppenheimer to outperform from perform. $68 price target. Loan growth is beginning to accelerate, Oppenheimer said. CIT Group ( CIT) was downgraded at Nomura from buy to neutral. $45 price target. Valuation call, as the stock is up 16% over the past two months, Nomura said. Clearwire ( CLWR) was downgraded at DA Davidson from neutral to underperform. DISH deal will likely not go through, DA Davidson said. $2.97 price target. DR Horton ( DHI) was upgraded at Barclays from equal-weight to overweight. $27 price target. Expect better credit availability to drive demand for entry-level homes, Barclays said. Bottomline ( EPAY) was downgraded at Craig-Hallum from buy to hold. Valuation call, based on a $29 price target, Craig-Hallum said. Equity Residential ( EQR) was downgraded at Jefferies to hold from buy. $58 price target. Negative read-through from AVB results, Jefferies said.