Analyst Actions: Ford, National Semiconductor, Wal-Mart, Managed Care Companies
In a report titled Ford: The Worst Appears Over, Officially Lowering Estimates,
PaineWebber
cut its third-quarter and fourth-quarter estimates on
Ford
(F)
by a penny each. The firm, which maintained its buy ratings and $46 price target on the stock, believes that although Ford still has liability issues, "it appears that the tread separation issue is becoming more attributable to Firestone."
Upgrades
National Semiconductor
(NSM)
: fiscal 2001 estimates UP to $3.10 a share from $2.90; fiscal 2002 UP to $3.20 a share from $3.05 at
Goldman Sachs
.
Downgrades
Burlington Resources
(BR)
: DOWN to buy from strong buy at
TheStreet Recommends
Credit Suisse First Boston
.
Hovnanian
(HOV)
: fiscal 2000 DOWN to $1.50 a share from $1.55; fiscal 2001 UP to $1.80 from $1.65 at
Donaldson Lufkin & Jenrette
.
Mpower
(MPWR)
: DOWN to market outperformer at Goldman Sachs; fiscal 2000 estimates DOWN to a $5.45 loss from $5.07 loss.
Initiations
Checkpoint Software Technologies
(CHKP)
: NEW intermediate accumulate, long-term buy rating; price target of $175.
Wal-Mart
(WMT)
: NEW buy at
Banc of America
.
Group Moves
DLJ rolled out coverage of several managed care companies:
- Sierra Health Servicesundefined: underperform.
Wellpoint Health Networks (WLP) : buy.
Cigna (CI) : buy.
Coventry Healthcareundefined: buy.
Foundation Healthcare (FHS) : buy.
Humana (HUM) : market perform.
MidAtlantic Med Serviceundefined: market perform.
Pacificare Healthundefined: underperform.
Oxford Health Planundefined: buy.
United Health Group (UNH) : market perform.
RightChoice (RIT) : market perform.
Trigon Healthcare (TGH) : market perform.
Lehman Brothers
raised its ratings and price targets on several medical and drug suppliers:
