Analyst Actions: Dell, W.P. Stewart, Calpine, UTI Energy
Bear Stearns
cut computermaker
Dell's
(DELL) - Get Report
earnings-per-share estimates for the next two years to reflect lower sales and margins, according to news service
Reuters
.
The firm trimmed Dell's 2001 EPS outlook to 87 cents from 92 cents and its 2002 EPS view to 90 cents from $1.05.
Reuters also said Bear Stearns expects outer PC-related companies to guide down estimates during earnings season.
Goldman Sachs
did some rejiggering on its recommended list, returning
Spieker Properties
( SPK) to it and removing
Developers Diversified Realty
(DDR)
. Also,
W.P. Stewart
( WPL) was started at Goldman with a recommended list rating. Its EPS was set at $1.95 for 2001 and $2.35 for 2002.
Upgrades
Calpine
(CPN)
: 2000 EPS view UP to $1.05 from 92 cents at
ABN Amro
; and 2001 EPS view UP to $1.32 from $1.19.
Glenborough
(GLB)
: UP to strong buy from buy at
Robertson Stephens
.
UTI Energy
(UTI) - Get Report
: 2001 EPS view UP to $1.10 from $1 at
Merrill Lynch
and its 12-month price target UP to $46.25 from $30.
Downgrades
Backweb
( CNF): DOWN to long-term attractive from buy at Robbie Stephens.
Bausch & Lomb
( BOL): 2000 EPS view DOWN to $2.54 from $2.59 at Goldman; and 2001 EPS view DOWN to $2.35 from $2.70.
CNF Transportation
( CNF): DOWN to market perform from outperform at Goldman.
Crompton
( CK): 2000 EPS view DOWN to 89 cents from 91 cents at ABN Amro; and 2001 EPS view to 85 cents from $1.07.
Fairchild Semiconductor
: 2000 EPS view DOWN to $2.73 from $2.86 at
Credit Suisse First Boston
; and 2001 EPS view DOWN to $2.05 from $2.90.
Ford
(F) - Get Report
: 2001 EPS view DOWN to $2 from $2.70 at Goldman.
General Motors
(GM) - Get Report
: 2001 EPS view DOWN to $2.50 from $5 at Goldman.
Hispanic Broadcasting
(HSP)
: DOWN to outperform and price target cut to $34 at
Salomon Smith Barney
.
Starwood Hotels & Resorts
(HOT)
: DOWN to buy from strong buy at CSFB.
USG
(USG)
: fourth-quarter EPS DOWN to 50 cents from 65 cents at Goldman; and 2001 EPS DOWN to $3 from $3.30.
VerticalNet
( VERT): DOWN to hold from accumulate at
Prudential Securities
and 12-month price target DOWN to $7 from $20.
Initiations
American Electric Power
(AEP) - Get Report
: NEW buy at CSFB; 12-month price target: $50.
Prologis
(PLD) - Get Report
: NEW outperform at Solly.
Group Moves
Goldman said it expected such beverage companies as
Coca-Cola
(KO) - Get Report
,
PepsiCo
(PEP) - Get Report
and
Anheuser-Busch
(BUD) - Get Report
to meet fourth-quarter EPS estimates.
Goldman lowered ratings on two trucking companies to market performers from market outperformers:
- US Freightways (USFC) :
CNF (CNF) - Get Report
