Analyst Actions: IBM, Apple, Sprint, Mead
IBM (IBM) - Get Report was upgraded to buy from outperform at Lehman Brothers. Lehman analyst George Elling also raised his price target to 160 and raised his 2000 earnings per share estimate to $4.42 from $4.30. He increased 2001 estimates to $5.10 from $5.00. Credit Suisse First Boston reiterated its existing buy recommendation for the company.
Upgrades
Apple
(AAPL) - Get Report
: UP to strong buy from buy at
SG Cowen
.
Celestica
(CLS) - Get Report
: 12-month price target UP to 85 from 70 at
Donaldson Lufkin & Jenrette
; UP to 100 from 60 at
Chase Hambrecht & Quist
.
Check Point Software
(CHKP) - Get Report
: price target UP to 275 from 250 at
UBS Warburg
.
Cirrus Logic
(CRUS) - Get Report
: UP to buy from neutral at SG Cowen.
Gasonics
(GSNX)
: UP to near-term buy from accumulate at
Merrill Lynch
.
Harrah's Entertainment
(HET)
: UP to near-term buy from accumulate at Merrill Lynch.
Micromuse
(MUSE)
: Price-target UP to 190 from 100 at Lehman Brothers.
Nicor
: UP to near-term buy from accumulate at Merrill Lynch.
Purchasepro.com
(PPRO)
: Price-target UP to 70 from 50 at Lehman Brothers.
Tut Systems
(TUTS)
: Price-target UP to 100 from 85 at Lehman Brothers.
Downgrades
Alltel
(AT) - Get Report
: DOWN to neutral from buy at PaineWebber.
ATMI
(ATMI)
: DOWN to buy from strong buy, price target DOWN to 51 from 55 at UBS Warburg.
Citrix
(CTXS) - Get Report
: DOWN to neutral from buy: price target DOWN to 15 from 30 at Lehman Brothers.
Conexant
(CNXT) - Get Report
: price target DOWN to 100 from 140 at CSFB.
Federated Investors
(FII) - Get Report
: DOWN to neutral from buy at PaineWebber.
Flowers Industries
(FLO) - Get Report
: DOWN to market perform from buy at DLJ.
Great Lakes Chemical
(GLK)
: DOWN to neutral from buy at Lehman Brothers.
Hubbell
(HUBB) - Get Report
: DOWN to market perform from market outperform at Goldman Sachs.
Mead
(MEA)
: DOWN to outperform from strong buy at Morgan Stanley Dean Witter.
Sonoco Products
(SON) - Get Report
: DOWN to neutral from outperform at Lehman Brothers.
Sprint
: DOWN to neutral from buy at PaineWebber.
Initiations
Arkansas Best
(ABFS)
: NEW buy at Merrill Lynch.
Best Buy
(BBY) - Get Report
: NEW buy at Lehman Brothers.
Circuit City
(CC) - Get Report
: NEW neutral at Lehman Brothers.
