Analyst Actions: Motorola, Chiron, Applied Micro Circuits, Fox, General Motors, Advanced Micro Devices
Motorola (MOT Quote) got cut by a handful of analysts, adding insult to what has already been a rather injury-addled week. On Tuesday, along with the rest of the chips and after lowering earnings expectations, the company fell nearly $5. On Wednesday, it was downgraded by Morgan Stanley Dean Witter and Thursday, Goldman Sachs, Deutsche Bank Alex. Brown and Banc of America have joined the fray.
Goldman cut Motorola's 2000 estimate to 96 cents a share from $1.06. The estimate for 2001 was lowered to $1.20 from $1.43.
Banc of America and Deutsche Bank Alex. Brown both lowered the company to buy from strong buy. Banc of America also dropped its price target to $40 a share from $60 and lowered its 2000 estimate to 96 cents from $1.05 and its 2001 to $1.18 from $1.40. ...
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