(HOMS) Homestore.com was down 14.5% in late afternoon after Merrill Lynch analyst Henry Blodget downgraded it to accumulate from buy based on price.

Blodget said he remains optimistic about the online real estate company, but noted that it trades at a premium to Internet leader

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. He said there is too much uncertainty about 2002 and 2003 to make him comfortable about Homestore at its current multiple.