Deutsche Banc Alex. Brown cut its rating on International Paper (IP) - Get Report to buy from strong buy after the company made an unsolicited bid of $6.2 billion for Champion (CHA) - Get Report.
Upgrades
Corning
(GLW) - Get Report
: UP to near-term buy from accumulate at
Merrill Lynch
.
Grubb & Ellis
(GBE)
: UP to buy from market performer at
Banc of America Securities
.
Ivex Packaging
(IXX)
: UP to attractive from neutral at
Bear Stearns
.
Kemet
(KEM) - Get Report
: price target UP to 125 from 115 at Merrill Lynch.
Silicon Valley Bancshares
(SIVB) - Get Report
: UP to buy from neutral at Bear Stearns. .
Initiations
Applebee's International
(APPB)
: NEW buy at Bear Stearns; price target: 48.
Arrowpoint Communications
(ARPT)
: NEW buy at
J.P. Morgan
and NEW market performer at
Goldman Sachs
; price target: 150 at J.P. Morgan .
Bottomline Technologies
(EPAY) - Get Report
: NEW near-term accumulate/buy rating at Merrill Lynch; 12-18 month price target: 60.
Gadzoox
(ZOOX)
: NEW buy at
Credit Suisse First Boston
; 12-month price target: 50.
Mercator Software
(MCTR)
: NEW buy at
Lehman Brothers
; price target: 50.
Mercury Interactive
(MERQ)
: NEW buy at Lehman Brothers; price target: 80.
Oracle
(ORCL) - Get Report
: NEW buy at Lehman; price target: 100.
