Analyst Actions: Morgan Stanley Ups Citigroup; Lehman Raises 3Com

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Morgan Stanley Dean Witter upgraded Citigroup (C) - Get Report to strong buy from outperform after the company announced that co-Chairman and co-CEO John Reed will retire April 18. Sandy Weill, the other co-chief, will be sole chairman and CEO after Reed steps down.

Credit Suisse First Boston

analyst Cynthia Motz initiated coverage of

Alamosa PCS

(APCS)

with a buy rating.

SG Cowen

downgraded

Conexant

(CNXT) - Get Report

to buy from strong buy. The firm left its 2000 estimate unchanged but dropped its 2001 view to $1.03 a share from $1.08.

Donaldson Lufkin & Jenrette

added

Digex

(DIGX)

to the firm's focus list.

Merrill Lynch

initiated coverage of

Dobson Communications

(DCEL)

with an intermediate-term accumulate rating and a long-term buy rating.

CSFB analyst Wendell Laidley upgraded

Informatica

(INFA)

to strong buy from buy.

CSFB analyst James Kelly reinstated coverage of

King Pharmaceuticals

(KING)

with a buy rating.

J.P. Morgan

initiated coverage of

Maxim Pharmaceuticals

(MMP) - Get Report

at buy.

Merrill Lynch

downgraded

Sara Lee

(SLE)

to near-term accumulate from buy.

CSFB analyst Gregory Cappelli initiated coverage of

SkillSoft

(SKIL)

with a strong buy rating.

CSFB analyst Marc Cabi initiated coverage of

Telaxis Communications

(TLXS)

with a buy rating.

Lehman Brothers

upgraded

3Com

(COMS)

to outperform from neutral as the networker gets ready for this week's spinoff of its

Palm

(PALM)

unit.