Analyst downgrades:

• Citigroup downgraded Manpower (NYSE: MAN) to Hold from Buy to reflect valuation following the recent rally and its neutral view on the Staffing sector. Despite downgrading, Citi raised its target on shares to $61 from $50.
• Merriman downgraded Akamai (NASDAQ: AKAM) to Sell from Neutral on concerns the company's CDN pricing is vulnerable and there is risk to FY10 consensus revenue estimates.
• Cantor downgraded RADvision (NASDAQ: RVSN) to Sell from Buy to reflect Cisco's (NASDAQ: CSCO) acquisition of Tandberg. The firm notes that Cisco is RADvision's largest customer, while Tandberg is its direct competitor. Cantor set a $6.50 target on RADvision.
• Microsoft (NASDAQ: MSFT) was cut to Buy from Conviction Buy at Goldman.
• JPMorgan downgraded Saks (NYSE: SKS) to Neutral from Overweight.
• Agilent (NYSE: A) was downgraded to Market Weight from Overweight at Thomas Weisel.

Analyst initiations:

• Collins Stewart initiated WellCare Health (NYSE: WCG) with a Buy rating and $48 target. The firm believes 2010 consensus estimates for WellCare Health are too low and sees long-term earnings power of at least $4.00 per share.
• Jefferies believes Henry Schein (NASDAQ: HSIC) shares are fairly valued at current levels. Shares were started with a Hold rating and $57 target.
• Roth Capital initiated Acorn International (NYSE: ATV) with a Buy rating. The firm thinks the company, a Chinese TV shopping network, will continue to rebound well into 2010. Roth set an $8 target on the stock.
• FedEx (NYSE: FDX) was assumed with a Buy rating and $98 target at Deutsche Bank.
• MGM Mirage (NYSE: MGM) was initiated with a Hold rating and $13 target at Soleil.
• Boston Scientific (NYSE: BSX) was initiated with a Market Perform rating at JMP Securities.