Analyst Actions: WorldCom, Gap, Genzyme, Nortel
WorldCom's
(WCOM)
woes continue with negative actions by
Morgan Stanley Dean Witter
and
Goldman Sachs
. Morgan Stanley cut it to outperform from neutral and Goldman slashed its 2000 EPS estimate to $1.60 from $1.83 a share and 2001 EPS estimate to $1.45 from $1.90 a share.
Gap's
(GPS) - Get Gap Inc. (The) Report
earnings estimates were cut by
Prudential Securities
after the company said October's same-store sales fell 2%. The firm cut the 2000 EPS estimate to $1 from $1.11 and its 2001 EPS estimate to $1.35 from $1.50.
Upgrades
Beazer Homes
(BZH) - Get Beazer Homes USA Inc. Report
: UP to buy from hold at
TheStreet Recommends
Credit Suisse First Boston.
Genzyme
(GENZ)
: UP to buy from outperform at
Salomon Smith Barney
.
Global Marine
(GLM)
: UPPED intermediate-term rating to buy from accumulate at
Merrill Lynch
; 2000 EPS UP to 64 cents from 60 cents and 2001 EPS estimate UP to $1.50 from $1.40.
Foundation Health Systems
(FHS)
: UP to attractive from neutral at
PaineWebber
; price target: $23.50.
Pharmacia
(PHA)
: UP to buy from market perform at
Deutsche Banc Alex. Brown
.
Ryland Group
(RYL)
: UP to buy from hold at CSFB; 12-month price target: $41 to $42.
Downgrades
Aon
(AON) - Get Aon plc Class A (Ireland) Report
: DOWN to market performer from buy at
J.P. Morgan
.
AstroPower
(APWR)
: DOWN to market perform from market outperform at Goldman Sachs; and DOWN to long-term attractive from buy at
Robertson Stephens
.
CareScience
(CARE) - Get Carter Bankshares Inc. Report
: DOWN to market perform from strong buy at Alex. Brown.
Ingersoll-Rand
(IR) - Get Ingersoll Rand Inc. Report
: DOWN to neutral from attractive at
Bear Stearns
; 2001 EPS estimate DOWN to $3.90 from $4.20.
Nortel
(NT)
: DOWN to buy from strong buy at
SG Cowen
.
