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Lehman Brothers

cut its estimates of


(DELL) - Get Dell Technologies Inc Class C Report

earnings per share after the company lowered its revenue predictions for 2000. Lehman reduced this year's estimates to 92 cents from 93 cents and next year's to $1.17 a share from $1.22.

Salomon Smith Barney

initiated coverage of 23 bank stocks this morning, saying the firm recommends a slightly overweight position but also advises selectivity, since it sees many banks as low-growth companies. Credit quality and sector rotation were among the concerns expressed. Among stocks commented on, seven were rated buys, four as outperforms and 12 as neutrals, including:

Bank One

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: OUTPERFORM; price target: $45.

Chase Manhattan


: BUY; price target: $75.



: BUY; price target: $52.

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i2 Technologies


: 12-month price target UP to $215 from $175 at

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St. Jude Medical


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TCF Financial


: price target UP to $47 from $38 at

Lehman Brothers



BMC Software


: 2001 EPS estimate DOWN to 85 cents from $1.43 at Goldman.

Hughes Electronics


: DOWN to outperform from strong buy at

Morgan Stanley Dean Witter


Martin Marietta

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: DOWN to outperform from buy at Salomon Smith Barney; and it was cut from Goldman's U.S. recommended for purchase list.


(MAS) - Get Masco Corporation (MAS) Report

: DOWN to market performer at Goldman and removed from the firm's recommended for purchase list. 2000 EPS estimate DOWN to $1.57 from $1.65 and 2001 EPS outlook to $1.70 from $1.85.

Pitney Bowes

(PBI) - Get Pitney Bowes Inc. Report

: DOWN to market performer from market outperformer at Goldman; 2000 EPS estimate DOWN to $2.44 from $2.60; 2001 EPS estimate DOWN to $2.75 a share from $2.90.

Charles Schwab


: third-quarter EPS estimate DOWN to 12 cents from 15 cents at Salomon; fourth-quarter EPS estimate 18 cents from 21 cents; 2001 EPS estimate to 83 cents from 90 cents.


Marine Drilling


: NEW neutral at Lehman Brothers.

Group Moves

Morgan Stanley started coverage of toy companies


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(MAT) - Get Mattel, Inc. Report

with neutral ratings.

Lehman downgraded




U.S. Bancorp

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, which announced

merger plans yesterday, to neutral from outperform. The firm said "concerns about execution risk and slower growth rates might limit Firstar's near-term upside."