Online brokers looked attractive to buyers after some positive research.

Ameritrade

(AMTD) - Get Report

was raised to buy from hold at

CIBC World Markets

with a price target of $25, while

Credit Suisse First Boston

analyst James Marks upgraded Ameritrade and

E*Trade

(EGRP)

to buy from hold. Both have a 12-month target of $35 at CSFB.

Still smarting from a

U.S. Bancorp Piper Jaffray

downgrade on chip bellwether

Intel

(INTC) - Get Report

yesterday, the semiconductor sector received a new blow this morning from a

Donaldson Lufkin & Jenrette

downgrade on benchmark chip stock

Micron Technology

(MU) - Get Report

, which was lowered to underperform from buy.

DLJ reiterated a top pick rating on

America Online

(AOL)

.

Upgrades

Duke Energy

(DUK) - Get Report

: price target UP to $100 from $75 at

Banc of America Securities

.

Keycorp

(KEY) - Get Report

: UP to strong buy from hold at CIBC.

PSS World Medical

(PSSI)

: UP to market outperform from market perform at

Goldman Sachs

Tech Data

(TECD) - Get Report

: 12-month price target UP to $65 from $50 at Banc of America.

Initiations

AOL Latin America

(AOLA)

: NEW buy at

Salomon Smith Barney

; price target: $21.

Active Power

(ACPW)

: NEW market outperform at Goldman Sachs.

Equinix

(EQIX) - Get Report

: NEW buy Salomon Smith Barney; price target: $22.

3M

(MMM) - Get Report

: NEW buy; price target: $125 at CSFB.

TeleCommunication Systems

(TSYS)

: NEW buy at Salomon Smith Barney; year-end 2001 price target : $40.

Williams-Sonoma

(WSM) - Get Report

: NEW buy at

W.R. Hambrecht

; price target: $48.

Wink Communications

(WINK)

: NEW buy at

ING Barings

.

TVIA

(TVIA)

: NEW strong buy at CIBC.

Group Moves

Beverage stocks were a hot topic this morning as a number of firms commented on the sector. CSFB's group coverage of beverage companies was mostly positive:

  • Coca-Cola Enterprises (CCE) at buy; price target: $26.
  • Coca-Cola (KO) - Get Report at buy; price target: $73.
  • Pepsi Bottling Group (PBG) at buy; price target: $42.
  • PepsiCo (PEP) - Get Report at hold.

Merrill Lynch

also released research on beverage companies and adopted a cautious stance, calling volumes anemic and saying pricing is in disarray. Merrill lowered its global volume growth estimates for Coca-Cola to 4% from 5%. Among the three bottlers it covers, Merrill said, it continues to prefer Pepsi Bottling Group since it currently has the best earnings momentum.

Goldman Sachs cut Coke's 2000 EPS view to 50 cents from 52 cents and lowered its 2001 EPS view to 72 cents from 78 cents.

UBS Warburg

started coverage of

Data Return

(DRTN)

,

Digex

(DIGX)

and

Exodus

(EXDS)

at buy.

J.P. Morgan

started coverage of

Lowe's

(LOW) - Get Report

and

Home Depot

(HD) - Get Report

with buy ratings.

ING Barings started coverage of

Tivo

(TIVO) - Get Report

as a hold and

Actv

(IATV)

at strong buy.