Morning Buy/Sell Recommendations

Goldman Sachs:
- Downgraded Life Insurance group to Cautious.
- Downgraded PFG to Underperform.
- Reiterated Outperform on AVP.

Smith Barney:
- Reiterated Buy on RSG, target $39.
- Reiterated Buy on FFIV, target $65.
- Reiterated Buy on RDWR, target $32.
- Reiterated Buy on EXTR, target $11.
- Reiterated Buy on FDRY, target $14.
- Reiterated Buy on NTGR, target $20.
- Reiterated Buy on PKTR, target $22.
- Reiterated Buy on JNPR, target $36.
- Reiterated Buy on ELX, target $23.50.
- Reiterated Buy on RSG, target $39.
- Rated RRD Buy, target $36.
- Rated AMTD Buy, target $13.25.
- Reiterated Buy on CHE, target $93.
- Reiterated Buy on FCS, target $19.
- Reiterated Buy on SSI, target $70.

Morgan Stanley:
- Cut State Street to Underweight.

JP Morgan:
- Raised GOL, STZ to Overweight.
- Downgraded MESA to Underweight.
- Downgraded SKYW to Underweight.
- Downgraded XJT to Underweight.
- Reiterated Overweight on DG, target $28.

Merrill Lynch:
- Raised ARBX to Buy.

CIBC:
- Raised MGA to Sector Outperform.
- Cut X to Sector Underperform.

Prudential:
- Reiterated Overweight on BWA, target $57.

Raymond James:
- Raised LUFK to Strong Buy, target $60.

Piper Jaffray:
- Reiterated Outperform on DELL, target $48.

Deutsche Bank:
- Downgraded GM to Sell, target $24.

Thomas Weisel:
- Reiterated Outperform on CHS, target $33.
- Reiterated Outperform on CACH, target $18.