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Wednesday's Analyst Actions: Cisco, Dow Chemical, Tommy Hilfiger, Embarcadero Technologies

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In the made-for-TV movie during the 1980s, The Day After, things didn't look too good in Kansas City after someone decided to drop an atomic bomb on it.

For

Cisco

(CSCO) - Get Cisco Systems Inc. Report

this morning, well, let's just say that the fallout from

last night's earnings disappointment might not be a nuclear winter, but it's not looking too good for the stock this morning. Cisco was downgraded this morning to buy from strong buy at

Lehman Brothers

and its target was cut to $36 from $45,

Salomon Smith Barney

cut its price target to $65 from $80,

Credit Suisse First Boston

cut its rating to buy from strong buy and lowered its price target to $45 from $60,

SG Cowen

cut its rating to buy from strong buy and its price target to $47 from $55,

Robertson Stephens

lowered its rating to attractive from buy and

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ING Barings

cut its price target on the stock to $42 from $50.

Upgrades

Dow Chemical

(DOW) - Get Dow Inc. Report

: UP to strong buy from hold at CS First Boston; price target of $42.

Pacificare Health Systems

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: Price target UP to $45 from $35 at Lehman.

Pitney Bowes

(PBI) - Get Pitney Bowes Inc. Report

: UP to outperform from neutral at Salomon Smith Barney.

Tommy Hilfiger

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: UP to buy from attractive at Robertson Stephens.

Downgrades

Agency.com

(ACOM)

: DOWN to neutral from buy at Salomon Smith Barney.

Apartment Investment & Management

(AIV) - Get Apartment Investment and Management Company Report

: intermediate-term rating DOWN to neutral from accumulate at

Merrill Lynch

.

Broadcom

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: price target DOWN to $125 from $200 at

W.R. Hambrecht

.

CNET Networks

(CNET) - Get ZW Data Action Technologies Inc. Report

: DOWN to neutral from buy at W.R. Hambrecht.

Enravision

(EVC) - Get Entravision Communications Corporation Report

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

General Growth

(GGP)

: DOWN to outperform from buy at Salomon Smith Barney.

Newmont Mining

(NEM) - Get Newmont Corporation Report

: price target DOWN to $11 from $13 at Lehman.

Radiant Systems

(RADS)

: price target DOWN to $40 from $60 at CSFB.

Initiations

Dime Bancorp

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: NEW intermediate-term accumulate at Merrill Lynch; price target: $33.

Embarcadero Technologies

(EMBT)

: NEW buy at CSFB.

Investment Technology

(ITG)

: NEW buy at Salomon Smith Barney; price target: $65.