Analyst Actions: Amazon.com, UnitedHeath, Dow Chemical, JDS Uniphase
Amazon.com
(AMZN) - Get Report
was downgraded to sell from hold by Mark Rowen at
Prudential Securities
.
Rowen also slashed the company's price target to $9 from $20.
The note said: "The anemic growth in Amazon's most mature -- and only profitable -- segment has caused us to re-examine Amazon's market valuation." The firm added that Amazon's market cap is overextended, which poses further downside risk to investors.
Upgrades
UnitedHealth Group
(UNH) - Get Report
: ADDED to Focus One list at
Merrill Lynch
.
Downgrades
Corixa
(CRXA)
: DOWN to hold from strong buy at Prudential.
Credence Systems
(CMOS)
: 2001 EPS view DOWN to 38 cents from $1 at
Goldman Sachs
; and 2002 EPS view DOWN to $1.76 from $2.35.
Dow Chemical
(DOW) - Get Report
: 2001 EPS view DOWN to $1.40 from $1.85 at Goldman.
Fundtech
(FNDT)
: price target DOWN to $19 from $33 at
Lehman Brothers
; and 2001 operating EPS DOWN to 60 cents, excluding goodwill amortization of 16 cents a share, from $1.13.
Ilex Oncology
(ILXO)
: price target DOWN to $45 from $63 at Prudential.
IPC Holdings
(IPCR)
: DOWN to outperform from strong buy at
Morgan Stanley
.
JDS Uniphase
(JDSU)
: 2001 EPS view DOWN to 73 cents from 81 cents a share at Merrill; and 2002 EPS view DOWN to 88 cents from $1.02.
Nice Systems
(NICE) - Get Report
: price target DOWN to $18 from $30 at
UBS Warburg
.
Powerwave Technologies
(PWAV)
: DOWN to outperform from strong buy at Morgan Stanley.
Sunoco
(SUN) - Get Report
: DOWN to hold from accumulate at Prudential.
TD Waterhouse
(TWE)
: 2001 EPS view DOWN to 60 cents from 71 cents a share at
Credit Suisse First Boston
.
Ultramar Diamond
(UDS)
: DOWN to hold from accumulate at Prudential.
VoiceStream Wireless
(VSTR)
: DOWN to neutral from outperform at
Salomon Smith Barney
; and price target DOWN to $115 from $140.
Wireless Facilities
(WFII)
: DOWN to long-term buy from buy at
J.P. Morgan
.
Initiations
Interwoven
(IWOV)
: NEW strong buy at Prudential; price target: $32.
Valassis Communications
(VCI)
: NEW buy at CSFB.
Vectren
(VVC)
: NEW buy at CSFB.
Group Moves
Lehman started coverage of Internet security stocks:
- Internet Security (ISSX) : NEW strong buy; price target: $80.
RSA Security (RSAS) : NEW buy; price target: $65.
Entrust Technologies (ENTU) : NEW market performer.
Symantec (SYMC) - Get Report: NEW market performer.
