Boy, a lot of brokerages started looking at some new companies today. A pair of battery makers were started over at

Lehman Brothers

, while

Salomon Smith Barney

started a pair of jewelry retailers.

Upgrades

Sepracor

( SEPR): UP to strong buy from buy at

Robertson Stephens

.

Downgrades

Applied Micro Circuits

(AMCC)

: DOWN to market outperform at

Goldman Sachs

, removed from U.S. recommended for purchase list.

Comdisco

( CDO): DOWN to outperform from buy at Salomon Smith Barney.

Initiations

Energizer

(ENR) - Get Report

: NEW market perform at Lehman Brothers; price target: $23.

Micromuse

( MUSE): NEW market outperform at Goldman Sachs.

OTG Software

( OTGS): NEW outperform at Salomon Smith Barney; price target: $15.

Rayovac

( ROV): NEW buy at Lehman Brothers; price target: $25.

Tiffany

(TIF) - Get Report

: NEW outperform at Salomon Smith Barney.

Timberland

( TBL): NEW buy at Lehman Brothers; price target: $75.

Zale

(ZLC)

: NEW buy at Salomon Smith Barney; price target: $50.