Top US stock recommendations of the day:

APPLE: Berenberg downgrades to SELL from buy, price target of $360 (vs. $800).

BEST BUY: Jefferies & Co upgrades to BUY from hold.

CABOT OIL & GAS: Buckingham Research downgrades to NEUTRAL from buy.

DEAN FOODS: Credit Suisse upgrades to OVERWEIGHT from hold, price target of $21 (vs. $18).

FEDEX CORP: Oppenheimer initiates coverage at OVERWEIGHT, price target of $124.

FIRST SOLAR: Raymond James upgrades to HOLD from underweight.

JC PENNEY: Citi downgrades to NEUTRAL from buy, price target of $15 (vs. $22).

MASTERCARD: Aurgus downgrades to HOLD from buy.

QUALCOMM: Goldman Sachs reiterates BUY. Reiterates stock on Conviction Buy list.

UNITED PARCEL SERVICE: Oppenheimer initiates coverage at OVERWEIGHT, price target of $95.

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