UPGRADES:
* Cascade Microtech (CSCD) to buy: Canaccord Genuity
* Celadon (CGI) to strong buy: Raymond James
* Electronic Arts (EA) to buy: BofA Merrill
* First Solar (FSLR) to outperform: Robert Baird
* First Solar (FSLR) to buy: Cantor
* Garmin (GRMN) to outperform: Wedbush
* Mantech International (MANT) to market perform: Wells Fargo
* PacWest Bancorp (PACW) to buy: Sterne Agee
* Red Lion Hotels (RLH) to neutral: Robert Baird
* Ralcorp (RAH) to outperform: Credit Suisse
* Renaissancere (RNR) to hold: Deutsche Bank
* RPX Corp. (RPXC) to overweight: Stephens
* Resolute Forest Products (RFP) to hold: TD Securities
* Titanium Metals (TIE) to overweight: JPMorgan
* Verisk Analytics (VRSK) to buy: SunTrust Robinson
* Wright Medical (WMGI) to outperform: Robert Baird
DOWNGRADES:
* Amerigroup (AGP) to neutral: Citigroup
* ArcelorMittal (MT) to neutral: BofA Merrill
* Armstrong World (AWI) to sector perform: RBC Capital
* Agrium (AGU) to hold: Dahlman Rose
* Abercrombie & Fitch (ANF) to neutral: Piper Jaffray
* Cerner (CERN) to market perform: Leerink Swann
* Dryships (DRYS) to hold: Deutsche Bank
* Devon Energy (DVN) to neutral: Macquarie
* Hill-Rom (HRC) to neutral: Piper Jafray
* Healthcare Realty Trust (HR) to neutral: Davenport
* Harley-Davidson (HOG) to neutral: Longbow
* Hot Topic (HOTT) to neutral: Piper Jaffray
* Manning & Napier (MN) to market perform: Keefe Bruyette
* MGM Resorts (MGM) to neutral: BofA Merrill
* Ntelos (NTLS) to market perform: FBR Capital
* Owens Corning (OC) to sector perform: RBC Capital
* Potash Corp. (POT) to hold: Dahlman Rose
* Qiagen (QGEN) to hold: Berenberg
* Rentech Nitrogen Partners (RNF) to hold: Dahlman Rose
* Stryker Corp. (SYK) to neutral: Piper Jaffray
* Veolia (VE) to neutral: BofA Merrill
* Washington Banking (WBCO) to market perform: FIG Partners
* Wright Express (WXS) to neutral: Sterne Agee
INITIATIONS:
* Avago Technologies (AVGO) neutral: Goldman Sachs
* Exar Corp. (EXAR) buy: Stifel Nicolaus
* Knight Transportation (KNX) buy: Longbow
* Microcel (MCRL) outperform: Wells Fargo
* Werner Enterprises (WERN) buy: Longbow