Analyst Actions: Viant, Diamond Technology, Nordstrom, Versicor

On the heels of Viant's (VIAN Quote) third-quarter profit warning, the Internet consulting firm was hit with a slew of downgrades. Lehman Brothers lowered its rating to neutral from buy. SG Cowen cut its recommendation to neutral from buy. Meantime, Credit Suisse First Boston maintained its buy rating on Viant, but cut its price target to $20 from $25.

In addition, Donaldson Lufkin & Jenrette lowered its rating on the entire Internet consulting sector to market performance from outperformance. DLJ lowered its price target on the following companies:

• Diamond Technology (DTPI Quote): Price target DOWN to $100 from $120.

• Scient (SCNT Quote): Price target DOWN to $48 from $112. Scient was also lowered to neutral from buy at SG Cowen.

• MarchFirst (MRCH Quote): Price target DOWN to $41 from $54.

• Breakaway Solutions (BWAY Quote): Price target DOWN to $22 from $50.

• Organic (OGNC Quote): Price target DOWN to $10 from $30.

• IXL Enterprises (IIXL Quote): Price target DOWN to $20 from $44.

• Xpedior (XPDR Quote): Price target DOWN to $15 from $28.

Other Downgrades

Nordstrom (JWN Quote): DOWN to neutral from buy at Merrill Lynch.

Initiations

Versicor (VERS Quote): NEW buy at Lehman Brothers. 12-month price target: $27.