Credit Suisse First Boston's

Wendy Beale Needham upgraded automaker

Ford

(F) - Get Report

and auto-parts makers

Lear

(LEA) - Get Report

and

Delphi Automotive Systems

(DPH)

because she said the auto-related stocks typically outperform the market after an interest-rate cut. Needham said she expects it to happen again, in spite of declining auto sales and production. Ford, Lear and Delphi were all raised to strong buy from buy.

Upgrades

AnnTaylor

(ANN)

: UP to accumulate from hold at

Prudential Securities

.

Bebe

(BEBE)

: UP to strong buy from buy at

J.P. Morgan

.

Gap

(GPS) - Get Report

: UP to accumulate from hold at Prudential.

Health Net

(HNT)

: 12-month price target UP to $30 from $26 at

Lehman Brothers

; and 2001 EPS estimate UP to $1.60 from $1.55. J.P. Morgan also upped its 2001 EPS view to $1.58 from $1.52.

PPG Industries

(PPG) - Get Report

: UP to strong buy from hold at CSFB.

Post Properties

(PPS)

: UP to buy from market perform at

Deutsche Banc Alex. Brown

.

United Parcel

(UPS) - Get Report

: UP to near-term buy from accumulate at

Merrill Lynch

.

Downgrades

3M

(MMM) - Get Report

: 2001 EPS view DOWN to $5.10 from $5.25 at

ABN Amro

.

Archer Daniels Midland

(ADM) - Get Report

: DOWN to hold from buy at CSFB.

B/E Aerospace

(BEAV)

: DOWN to hold from buy at CSFB.

Family Dollar

(FDO)

: DOWN to buy from strong buy at CSFB; 2001 EPS estimates DOWN to $1.12 from $1.21 and 12-month price target DOWN to $25 from $30.

Inktomi

(INKT)

: DOWN to buy from strong buy at

SG Cowen

and DOWN to hold from accumulate at Prudential, which also cut it price target to $15.

Intimate Brands

(IBI)

: DOWN to long-term attractive from buy at

Robertson Stephens

.

Nice Systems

(NICE) - Get Report

: DOWN to hold from buy at

UBS Warburg

; price target DOWN to $30 from $80.

Resonate

(RSNT)

saw its 2000 loss estimate increased to $1.39 from $1.38 and its 2001 loss estimate increased to $1.16 from 82 cents at

Goldman Sachs

and was removed from its "Recommended for Purchase" list.

Smithfield Foods

(SFD)

: DOWN to buy from strong buy at CSFB

Tiffany

(TIF) - Get Report

: DOWN to long-term attractive from buy at Robbie Stephens.

Vitria

(VITR)

: DOWN to long-term attractive from buy at Robbie Stephens.

Wells Fargo

(WFC) - Get Report

: DOWN to hold from accumulate at Prudential.

Group Moves

CSFB raised 12-month price targets on health care distributors:

  • AmeriSource Health (AAS) : UP to $54 from $46
  • Bergen Brunswig (BBC) - Get Report: UP to $21 from $19