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Some noteworthy upgrades and downgrades this morning:

Deutsche Bank upgraded GM (NYSE:GM), Robert Baird upgraded UPS (NYSE:UPS), and CIBC and Bank of America both downgraded US Steel (NYSE:X). As shown below, Deutsche Bank is not afraid to make a recommendation on GM. Since June 2004, they have issued 60 calls on the stock. However, today is the first time they have rated it a Buy.

Both CIBC and Bank of America have had Buy recommendations on US Steel throughout its recent six-month price run-up. Their downgrades come at a time when the stock is extremely overbought.

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ups baird

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Source: Key Analyst Upgrades Today: GM, UPS, U.S. Steel