UPGRADES:
Keefe, Bruyette & Woods upgrades Discover Financial (NYSE: DFS) from Market Perform to Outperform. Price target $14. Click here for more color.

Goldman Sachs upgrades Lloyds Banking Group plc (NYSE: LYG) from Neutral to Buy, saying at 0.8x their estimated trough tangible book value it is the least expensive large cap bank in Europe.

JP Morgan upgrades TRW Automotive (NYSE: TRW) from Neutral to Overweight and raised their price target to $15, following news the company amendeded its primary credit facility which the firm said makes TRW a “clear survivor.”

Societe Generale upgrades Barclays (NYSE: BCS) from Sell to Hold.

Morgan