Analyst Actions: MET, MSFT, KING, KLM, SLA, KREM

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UBS Warburg and J.P. Morgan started coverage of MetLife (MET) - Get Report with buy ratings and price targets of 20. Donaldson Lufkin & Jenrette also started coverage with a buy and a 12-month target of 22.

Credit Suisse First Boston

started coverage with a buy, while

Morgan Stanley Dean Wittter

started coverage with an outperform and a target of 22.

Merrill Lynch

started coverage with a near-term accumulate, long-term buy.

Upgrades

Donaldson Lufkin & Jenrette said

King Pharma

(KING)

replaced

Wells Fargo

(WFC) - Get Report

on its focus list.

SG Cowen

said it named

Scientific-Atlanta

(SFA)

as number one action idea for this week.

Downgrades

ING Barings

downgraded

KLM Royal Dutch Airlines

(KLM)

to sell from hold after the carrier cancelled its alliance with

Alitalia

. ING said KLM would lose about 200 million euros' worth of synergy gains over a three-year period.

Thomas Weisel

analyst David Readerman lowered his

Microsoft

(MSFT) - Get Report

"bust-up" price target to the 50 to 55 range, down from the previous 65 following the November 1999 findings of fact by U.S. Judge Thomas Penfield Jackson.

Solectron

(SLR)

: DOWN to buy from strong buy at SG Cowen.

Initiations

Alamosa PCS

(APCS)

: NEW market perform at Deutsche Banc Alex. Brown.

Krispy Kreme

(KREM)

: NEW buy at

Deutsche Banc Alex. Brown

.

Oratec Interventions

(OTEC)

: NEW buy; price target: 45 at J.P. Morgan.

Vyyo

(VYYO)

: NEW buy at

W.R. Hambrecht

; price target: 35.

Group Actions

Banc of America

made rating changes on four retail companies:

  • Jones Apparel (JNY) : DOWN to market perform from buy.
  • Liz Claiborne (LIZ) : DOWN to market perform from buy.
  • GAP (GPS) - Get Report: UP to strong buy from buy.
  • Payless Shoesource (PSS) : DOWN to market perform from buy.