One day after posting fourth-quarter
earnings that beat the street by a penny a share,
saw its rating cut by
. The Bear cut Network Appliances to attractive from hold, citing slowing business momentum.
In a note from this morning, the analyst said that strong earnings would not continue in the short term "as the law of large number catches up with the company," meaning that expectations cannot possibly continue to go higher. Think of this as a reality check from Bear Stearns, who also added that it was confident about Network Appliance's position in the marketplace and management's ability to oversee its rapid growth.
: UP at
, 2001 EPS to $2.50 from $2.37.
: UP to buy from outperform at
, price target to $75 from $65.
: UP to buy from attractive at Bear Stearns.
: UP at Lehman Brothers, price target to $34 from $27.
: UP at
, price target to $48 from $42.
: DOWN at
: price target to $41 from $46, 2000 EPS to $4.31 from $4.32, 2001 EPS to $4.60 from $4.85. DOWN at
Salomon Smith Barney
, 2001 EPS to $4.40 from $4.75. DOWN at UBS Warburg, 2001 EPS to $4.40 from $4.70.
: DOWN at Lehman Brothers, 2001 EPS to $2.50 from $3.50.
: DOWN to hold from buy at
Credit Suisse First Boston
. DOWN to outperform from buy at Salomon Smith Barney.
Bank of America
: DOWN at
, 2001 EPS to $5.60 from $5.75, 4Q EPS to $1.22 from $1.35.
: DOWN to market perform from buy at
Deutsche Banc Alex. Brown
Triton Network Systems
: DOWN to buy from strong buy at Deutsche Banc Alex. Brown.
: DOWN at Goldman Sachs, 2000 EPS to $1.15 from $1.17, 2001 EPS to $1.37 from $1.39.
: DOWN at Goldman Sachs, 4Q EPS to 84 cents from 92 cents.
: DOWN to neutral from outperform at Salomon Smith Barney.
: DOWN to hold from buy at UBS Warburg.
: NEW near-term neutral, long-term buy at Merrill Lynch.