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Cigna

(CI) - Get Cigna Corporation Report

saw its price target upgraded to 120 from 100 at

Lehman Brothers

and to 125 at

Merrill Lynch

. It was downgraded to buy from top pick at

Donaldson Lufkin & Jenrette

.

For more on

Cigna's second-quarter earnings, check out yesterday's

TheStreet.com/NY Times.com

joint newsroom article.

Upgrades

Administaff

(ASF)

TheStreet Recommends

: UP to buy from hold at

Credit Suisse First Boston

.

Hewlett-Packard

(HWP)

: third-quarter EPS estimates UP to 85 cents from 80 cents a share at

Bear Stearns

; fiscal 2000 EPS UP to $3.50 a share from $3.45; fiscal 2001 EPS UP to $4.05 a share from $4.

Medtronic

(MDT) - Get Medtronic Plc Report

: UP to buy from hold at

ABN Amro

.

Power-One

(PWER)

: UP to trading buy from market outperform at

Goldman Sachs

.

Williams Communications

(WCG) - Get WellCare Health Plans, Inc. Report

: UP to buy from outperform at

ABN Amro

.

Downgrades

ACE Limited

(ACL)

: DOWN to buy from strong buy at

Credit Suisse First Boston

.

Adaptec

(ADPT) - Get Adaptive Biotechnologies Corp. Report

: coverage Dropped at

Bear Stearns

.

CVS

(CVS) - Get CVS Health Corporation Report

: price target DOWN to 53 from 61 at

Lehman Brothers

.

Juno Online

(JWEB)

: DOWN to market perform from buy at

Chase H&Q

.

Network Peripherals

(NPIX)

: DOWN to neutral from buy at

Lehman Brothers

.

Triton Energy

(OIL) - Get iPath Pure Beta Crude Oil ETN Report

DOWN to neutral from buy at

Lehman Brothers

; DOWN to intermediate-term neutral from accumulate at

Merrill Lynch

.

S1

(SONE)

: DOWN to hold from outperform at

ABN Amro

.

Initiations

E.W. Scripps

(SSP) - Get E. W. Scripps Company Class A Report

: NEW neutral at

Morgan Stanley Dean Witter

.

Infineon Technologies

(IFX)

: NEW buy at Lehman Brothers; price target of 90.

Group Moves

PaineWebber

inititated coverage of two retailers:

Best Buy

(BBY) - Get Best Buy Co., Inc. Report

: NEW neutral.

Circuit City

(CC) - Get Chemours Co. Report

: NEW neutral.