Deutsche Banc Alex. Brown initiated coverage of several companies in the consumer products arena:

Chase H&Q

started coverage of

ASE Test

(ASTSF)

with a buy rating and a price target of 60.

J.P. Morgan

started coverage of

Avista

(AVA) - Get Report

with a buy rating.

Warburg Dillon Read

initiated coverage of

Bausch & Lomb

(BOL)

at buy and set a price target of 75.

Credit Suisse First Boston

reinstated

Conexant Systems

(CNXT) - Get Report

with a strong buy rating and a 12-month target of 140.

CSFB raised its 2000 earnings estimates on

Credence Systems

(CMOS)

to $3.60 from $3.35. The 12-month price target was raised to 170 from 90.

Lehman Brothers

said it cut

Great Atlantic & Pacific Tea

(GAP)

to neutral from buy.

CSFB raised

Radio One

(ROIA)

to strong buy from buy, and boosted its 12-month price target to 105 from 80.

Donaldson Lufkin & Jenrette

upgraded

Solectron

(SLR)

to top pick from buy.