Kerr-McGee
(KMD)
: UP to strong buy from buy at
Credit Suisse First Boston
.
Upgrades
Phillips Petroleum
(P)
: UP to intermediate accumulate, long-term buy from neutral, accumulate at
Merrill Lynch
.
Downgrades
MascoTech
(MSX)
: DOWN to hold from strong buy at
ING Barings
.
Initiations
CacheFlow
(CFLO)
: NEW attractive at Bear Stearns; price target: 72.
Community Health Systems
(CYH) - Get Report
: NEW intermediate, long-term buy at Merrill Lynch; price target: 20.
Group Moves
Schroder Salomon Smith Barney
lowered its rating on the U.S. semiconductor sector to outperform from neutral, with several stock included in the downgrade:
- Advanced Micro Devices (AMD) - Get ReportSilicon Storage (SSTI) - Get ReportTexas Instruments (TXN) - Get Report
Merrill Lynch rolled out coverage of stocks in the several semiconductor capital equipment industry:
- Electro Scientific Industries (ESIO) - Get Report: NEW intermediate, long-term buy; price target of 62
Metron Tech (MTCH) - Get Report: NEW intermediate, long-term buy; price target of 22
Therma-Wave (TWAV) : NEW intermediate, long-term buy; price target of 40
GaSonics International (GSNX) : NEW intermediate accumulate, long-term buy; price target of 50
Photon Dynamics (PHTN) : NEW intermediate accumulate, long-term buy; price target of 80
