upgrades BP ••• Raja cuts WU/AFUBWLD & upgrades MAS/ADC, FBR initiates BIIB/ENDP/FRXISPRT (mp) & VRX (op) • UBS initiates ECL (buy), MS downgrades AMBA & upgrades LSI, Maxim initiates KORS ••• BMO downgrades ST, DB downgrades X Europe Key Research: ••• RBC initiate HNR1 GY (b), SCR FP (op), downgrad