Analyst Actions: Circuit City, Sprint PCS, Ciphergen Biosystems, Aztar

Author:: TSC Staff
Publish date:: Nov 6, 2000 10:02 AM EST

Lehman Brothers

cut

Circuit City's

fourth-quarter estimate to 75 cents from 79 cents, its 2000 EPS estimate to $1.23 from $1.27 and 2001 EPS estimate to $1.60 from $1.75. The firm said its third-quarter estimate is unchanged, but that it is taking a more cautious view going forward, believing that trends will worsen. The note said the lowered estimates were based on beliefs that business conditions haven't improved for Circuit City and sales continue to be soft.

Upgrades

Beazer Homes

(BZH) - Get Report

: 2001 EPS UP to $5.90 from $5.40 at

Salomon Smith Barney

; and 2002 EPS UP to $5.90 from $5.50.

Bergen Brunswig

(BBC) - Get Report

: 2001 EPS up to 77 cents from 70 cents at Salomon; 12-month price target UP to $13 from $11.

Downgrades

ResMed

(RMD) - Get Report

: DOWN to buy from strong buy at

SG Cowen

Sprint PCS

(PCS)

: 12-month price target DOWN to $55 from $58 at Lehman; 2000 loss estimate increased to $1.95 from $1.92 and 2001 loss estimate was cut to 73 cents a share from 80 cents.

Morgan Stanley Dean Witter

cut its 12-month price target to $58 from $65.

True North Communications

(TNO)

: DOWN to hold from buy at

Credit Suisse First Boston

, due to loss of its

DaimlerChrysler

(DCX)

account.

Initiations

Aztar