Key Calls (Thursday): Upgrades, Downgrades & Initiations

Via Bloomberg Acacia Communications (ACIA) raised to overweight at Morgan Stanley Alcoa (AA) raised to overweight at JPMorgan, PT $46 Apple (AAPL) raised to hold at BGC, PT $125 Apptio (APTI) raised to outperform at RBC, PT $24 Axis Capital (AXS) raised to buy at MKM, PT $80 Cathay General (CATY) raised to overweight at Piper Jaffray Celanese (CE) raised to buy at Citi Foot Locker (FL) raised to buy at Guggenheim, PT $85 GOL (GOLL4 BZ) raised to buy at Deutsche Bank, PT $36 Intevac