Analyst Actions: Circuit City, Sprint PCS, Ciphergen Biosystems, Aztar
Lehman Brothers
cut
Circuit City's
(CC) - Get Chemours Company (The) Report
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 Beazer Homes USA Inc. 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 Virtus LifeSci Biotech Clinical Trials ETF Report
: 2001 EPS up to 77 cents from 70 cents at Salomon; 12-month price target UP to $13 from $11.
Downgrades
ResMed
TheStreet Recommends
(RMD) - Get ResMed Inc. 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
(AZR)
: NEW outperform at Salomon; 12-month price target: $18.
Ciphergen Biosystems
(CIPH)
: NEW strong buy at SG Cowen.
Click2learn.com
(CLKS)
: NEW buy at
W.R. Hambrecht
.
Express Scripts
(ESRX)
: REINSTATED buy at CSFB; 12-month price target: $95.
Fifth Third Bancorp
(FITB) - Get Fifth Third Bancorp Report
: NEW buy at Salomon; 12-month price target: $65.
Introgen Therapeutics
(INGN) - Get Inogen Inc Report
: NEW strong buy at
Prudential Securities
; NEW strong buy at SG Cowen.
Penn National Gaming
(PENN) - Get Penn National Gaming Inc. Report
: NEW buy at Salomon; 12-month price target: $23.
W-H Energy Services
(WHES)
: NEW strong buy at CSFB; 12-month price target: $25.
