Deutsche Bank upgraded GM (GM), Robert Baird upgraded UPS (UPS), and CIBC and Bank of America both downgraded US Steel (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.