UPGRADES:
UBS upgrades Apple (Nasdaq: AAPL) from Neutral to Buy, citing higher iPhone expectations. The firm also raised its price target from $170 to $265. This new target represents the new “Street high”. Click here for more color.

Oppenheimer upgrades Intel Corporation (Nasdaq: INTC) from Market Perform to Outperform with a $28 price target.

KBW upgraded shares of US Bancorp (NYSE: USB) and BB&T (NYSE: BBT) from Market Perform to Outperform, citing valuation and strategic opportunities. The firm raised its price target on US Bancorp from $21 to $28 and its target on BB&T from $28 to $33.

Wells Fargo upgrades