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Upgrades

Corning

(GLW) - Get Free Report

: price target UP to 400 from 375 at

Merrill Lynch

; fiscal 2001 EPS estimates UP to $4.05 a share from $4.10.

Gtech Holding

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: UP to intermediate-term buy from accumulate at Merrill Lynch; price target of 23.

Downgrades

Borders

(BGP)

: DOWN to market performer from market outperformer at

Goldman Sachs

.

Initiations

EXE Technologies

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: NEW strong buy at

Banc of America

.

Inktomi

(INKT)

: NEW buy at

Lehman Brothers

.

Lantronix

(LTRX) - Get Free Report

: NEW buy at Lehman Brothers.

NS Group

(NS) - Get Free Report

: NEW intermediate-accumulate, long-term buy rating at Merrill Lynch; price target of 25.

Group Moves

CIBC World Markets

rolled out coverage of gaming stocks:

  • UTStarcom (UTSI) - Get Free Report: buy.
  • MTR Gaming (MNTG) : buy.
  • Hollywood Casinoundefined: NEW strong buy.
  • Ameristar (ASCA) : NEW hold.

Credit Suisse First Boston downgraded several Web consulting firms:

  • Modem Mediaundefined: buy from strong buy.
  • Rare Medium (RRR) - Get Free Report: buy from strong buy.
  • Viantundefined: buy from strong buy.
  • Cambridge Technology Partnersundefined: hold from buy.
  • iGate Capital (IGTE) : hold from buy.