Credit Suisse First Boston

said because of cautious comments from

Cisco Systems'

(CSCO) - Get Report

CEO John Chambers at the

Morgan Stanley Dean Witter

investor conference, it was revising its earnings estimates and price target.

The firm said for the January quarter it was now expecting revenue of $7.04 billion from $7.17 billion. For the full-year 2001, CSFB lowered revenue to $28.4 billion from $29.6 billion and its

earnings-per-share estimate to 75 cents from 78 cents. Full-year 2002 revenue was lowered to $37.3 billion from $41 billion and its EPS estimate was knocked down to 96 cents from 98 cents.

To reflect the lower estimates, the firm cut Cisco's 12-month price target to $65 from $87, adding that it still finds the shares attractive and that it reiterates its strong buy rating.

Also, CSFB acknowledged that Cisco has not officially lowered guidance for the quarter or outlook and that the firm might be "overly conservative" in taking down the bottom line number, given Cisco's "ability to react quickly to change."

Salomon Smith Barney's

Jonathan Joseph cut his first-quarter and full-year earnings view on chipmaker

Intel

(INTC) - Get Report

, citing slowing sales.

Joseph cut Intel's first-quarter EPS outlook to 30 cents from 35 cents and its 2001 EPS estimate to $1.25 from $1.42. And Solly reduced the chipmaker's first-quarter revenue outlook to $7.86 billion from $8.73 billion.

Also,

Merrill Lynch

trimmed Intel and other chipmakers' 2001 EPS estimates. Intel's 2001 EPS estimate was taken down to $1.41 a share from $1.56.

Advanced Micro Devices

(AMD) - Get Report

was lowered to $2.43 from $2.66;

Analog Devices

(ADI) - Get Report

, down to $2.39 from $2.58;

Linear Technology

(LLTC)

, trimmed to $1.41 from $1.48 and

Texas Instruments

(TXN) - Get Report

was cut to $1.40 a share from $1.61.

Upgrades

Aurora Biosciences

(ABSC)

: UP to buy from long-term buy at

J.P. Morgan

.

Biovail

(BVF)

: added to

Goldman Sachs'

U.S. recommended for purchase list.

Diageo

(DEO) - Get Report

: UP to buy from market perform at

Deutsche Banc Alex. Brown

.

Dominion Resources

(D) - Get Report

: 2001 EPS view to $4.15 from $3.90 at CSFB and 2002 EPS view UP to $4.50 from $4.25.

HealthSouth

(HRC) - Get Report

: 12-month price target UP to $24 from $15 at

UBS Warburg

.

Downgrades

Cymer

(CYMI)

: 2001 EPS view DOWN to $2.75 from $3.35 at

ABN Amro

.

FirePond

(FIRE)

: DOWN to long-term attractive from buy at

Robertson Stephens

. It was also downgraded to neutral from buy at

SG Cowen

.

Unifi

(UFI) - Get Report

: DOWN to hold from buy at CSFB; 2001 EPS view DOWN to 20 cents from 71 cents and 2002 EPS view DOWN to 90 cents from $1.50.

Initiations

CNet

(CNET) - Get Report

: DOWN to long-term attractive from buy at Robbie Stephens. Also, it was removed from

Goldman Sachs'

U.S. recommended for purchase list.

Compass Bank

(CBSS)

: NEW buy at CSFB; 12-month price target: $27.

Wachovia

(WB) - Get Report

: NEW neutral at Solly; 12-month price target: $65.

Group Moves

SG Cowen cut ratings on six electronic business software companies to buy from strong buy. They are: