Analyst Actions: PEP, HOTJ, NLCS, AVGN, GPS, SWIR

Author:
Publish date:

This morning, Pepsico (PEP) - Get Report was upgraded to strong buy from buy at UBS Warburg and its price target was boosted to 51 from 46. Analyst Caroline Levy said that the company was her top pick in the soft drink space and raved about two recent management changes.

Upgrades

Amerada Hess

(AHC) - Get Report

: UP to strong buy from buy at

Deutsche Banc Alex. Brown

.

HotJobs

(HOTJ)

: UP to buy from neutral at

PaineWebber

.

National Computer Systems

(NLCS)

: UP to intermediate-term buy from accumulate at

Merrill Lynch

.

Seagram

(VO) - Get Report

: UP to strong buy at

SG Cowen

; price target: 70.

Smithfield Foods

(SFD)

: UP to strong buy from buy at

Credit Suisse First Boston

.

SpectraSite

(SITE) - Get Report

: UP to buy from hold at Warburg.

Wireless Facilities

(WFII)

: UP to strong buy from buy at

Chase Hambrecht & Quist

.

Downgrades

Airgas

(ARG)

: DOWN to market performer from outperform at

Goldman Sachs

.

Answerthink Consulting

(ANSR)

: price target DOWN to 35 from 55 at CSFB.

Cintas

(CTAS) - Get Report

: DOWN to intermediate-term accumulate from buy at Merrill Lynch.

Ethyl

(EY)

: DOWN to market performer from outperformer at Goldman Sachs.

MGM Grand

(MGG)

: DOWN to neutral from outperform at

Lehman Brothers

.

Initiations

Avigen

(AVGN)

: NEW strong buy at

ING Barings

; price target: 56.

Clear Channel Communications

(CCU) - Get Report

: NEW buy at SG Cowen; price target: 90.

Gap

(GPS) - Get Report

: NEW buy at

Thomas Weisel

; price target: 45.

MGI Pharma

(MOGN)

: NEW strong buy at US Bancorp; price target: 50.

Paradigm Genetics

(PDGM)

: NEW strong buy at Chase H&Q.

Sierra Wireless

(SWIR) - Get Report

: NEW intermediate, long-term buy at Merrill Lynch.

SPX

(SPW)

: NEW strong buy at Warburg; price target: 190.

StarMedia Network

(STRM) - Get Report

: NEW buy at CS First Boston; price target: 29.