Credit Suisse First Boston

cut its rating on

eBay

(EBAY) - Get Report

to buy from strong buy.

CSFB analyst Heath P. Terry said the 17% rise in eBay's shares following the announcement of its positive revenue forecasts of $3 billion in 2005 was overdone, and that the upside in eBay's shares was limited. The research note also said revenue objectives may underestimate potential growth at the company's recently acquired

Half.com

, an online trader the company bought in July, and opportunities in international markets.

Terry set a 12-month price target of $90, a 17.6% premium over the company's current share price. Also, he set its 2000 EPS projection at 15 cents a share and its 2001 EPS projection at 32 cents.

Upgrades

American Water

(AWK) - Get Report

: UP to attractive from unrated at

PaineWebber

.

Corn Products International

( CPO): UP to buy from hold at CSFB.

Federated Investors

(FII) - Get Report

: UP to outperform from neutral at

Morgan Stanley Dean Witter

.

Lennar

(LEN) - Get Report

: UP to buy from market perform at

Donaldson Lufkin & Jenrette

.

Quest Software

( QSFT): NEW near-term accumulate and long-term buy at

Merrill Lynch

; 12- to 18-month price target: $72.

Downgrades

Renal Care Group

(RCGI)

: DOWN to outperform from strong buy at Morgan Stanley.

U.S. Interactive

( USIT): DOWN to outperform from buy at

Lehman Brothers

; and price target DOWN to $7 a share from $15.

Initiations

Global Crossing

(GBLX)

: NEW strong buy at

Deutsche Banc Alex. Brown

.

Intersil

(ISIL)

: NEW buy at Lehman Brothers; price target: $60.

Veritas Software

(VRTS) - Get Report

: NEW buy at Lehman Brothers.