Credit Suisse First Boston downgraded several energy and oil companies this morning. Analyst Philip Pace downgraded Swift Energy(SFY) - Get Report, Apache(APA) - Get Report and Noble Affiliates(NBL) - Get Report to buy from strong buy and Pogo Producing (PPP) and Vastar Resources (VRI) to hold from buy.
Upgrades
ADC Telecommunications
(ADCT) - Get Report
: price target UP to 75 at
WR Hambrecht
.
Idexx Laboratories
(IDXX) - Get Report
: price target UP to 30 from 20 at
Prudential
.
Kana Communications
(KANA)
: UP to strong buy from buy at
ING Barings
; price target: 100.
Mandalay Resorts
(MBG)
: UP to attractive from neutral at
Bear Stearns
; price target: 28-30.
USFreightways
(USFC)
: UP to strong buy from buy at ING Barings; price target: 55.
Downgrades
Equant
(ENT) - Get Report
: DOWN to neutral from buy at
Lehman Brothers
.
Flowers Industries
(FLO) - Get Report
: DOWN to trading buy from recommended list at
Goldman Sachs
.
Four Seasons
(FS)
: DOWN to hold from accumulate at Prudential.
National Computer
(NLCS)
: DOWN to market perform from buy at
Donaldson Lufkin & Jenrette
.
Owens-Illinois
(OI) - Get Report
: DOWN to hold from buy at CSFB.
Initiations
Allmerica
(AFC)
: NEW buy at Lehman Brothers; price target: 70.
Pactiv
(PTV)
: NEW outperform at
Morgan Stanley Dean Witter
; price target: 13.
RealNetworks
(RNWK) - Get Report
: NEW buy at CSFB; price target: 57.
Group Moves
Bear Stearns analyst Jason Ader launched coverage of the online travel sector by placing buy ratings on two stocks:
- Expedia(EXPE) - Get Report: price target: 26-27.
Travelocity.com (TVLY) : price target: 34-35.
Lehman Brothers initiated coverage of several retailers with buy ratings:
- Jones Apparel (JNY) : NEW buy; price target: 36.
Liz Clairborne (LIZ) : NEW buy; price target: 57.
Tommy Hilfiger (TOM) : NEW outperform; price target: 10.
Merrill Lynch reinstated coverage of several regional banks with near-term neutral ratings and long-term accumulate ratings:
- Compass Bancshares (CBSS) .
First Virginia Banks (FVB) .
Huntington Valley Bancshares(HBAN) - Get Report.
National Commerce Bancorporation (NCBC) : with a long-term buy.
