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Upgrades & Downgrades - January 27
(last updated 4:35pm Eastern U.S. time)

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Upgrades
CompanySymbolBrokerage FirmUpgrade from:» Upgrade to:More

Amer Home ProductsAHPMerrill LynchLT Accumulate» LT Buy History
ApplixAPLXNeedham & CoHold» Buy -
Artesyn TechATSNBB Rbrtsn StphnsLT Attractive» Buy History
Aspect DevelopmentASDVCS First BostonBuy» Strong Buy History
Aspect DevelopmentASDVCS First BostonBuy» Strong Buy History
Aspen TechAZPNSG Cowen & CoNeutral» Buy History
Astoria FinancialASFCFriedman BillingsAccumulate» Buy History
Auspex SystemsASPXPreferred Cap MktsAccumulate» Buy History
Avery DennisonAVYMerrill LynchNT Neutral» NT Accumulate History
Brinker Int'lEATBear StearnsNeutral» Buy History
Broadcom CorpBRCMPreferred Cap MktsHold» Accumulate History
Brooks AutomationBRKSMerrill LynchLT Accumulate» LT Buy History
Brooks AutomationBRKSMerrill LynchNT Neutral» NT Accumulate History
Burlington NrthBNIMerrill LynchLT Accumulate» LT Buy History
Burlington NrthBNIMerrill LynchNT Neutral» NT Accumulate History
CR BardBCRSG Cowen & CoNeutral» Buy History
Cadence Design SysCDNNeedham & CoHold» Buy History
CheckFree HoldingsCKFRBB Rbrtsn StphnsMkt Perform» LT Attractive History
CitigroupCFriedman BillingsAccumulate» Buy History
CitigroupCSchroder & CoPerform In Line» Outperf. Signif. History
ClarifyCLFYSoundviewBuy» Strong Buy History
ClarifyCLFYWheat First UnionOutperform» Buy History
CoherentCOHRPreferred Cap MktsBuy» Strong Buy -
Commercial FederalCFBFriedman BillingsLT Buy» Buy History
Cooper IndustriesCBESchroder & CoPerform In Line» Outperform History
CyberCashCYCHFriedman BillingsHold» Accumulate History
Cypress SemiconductCYNeedham & CoHold» Buy History
Cyprus Amax MineralsCYMSalomon Smth BrnyOutperform» Buy History
Dupont PhotomaskDPMIABN AMROHold» Outperform History
Dupont PhotomaskDPMIMrgn Stnly Dn WttrNeutral» Outperform History
Dupont PhotomaskDPMINB MontgomeryHold» Buy History
First Charter CorpFCTRWheat First UnionOutperform» Buy History
First Data CorpFDCGoldman SachsMkt Outperform» Recomm. List History
First Data CorpFDCLehman BrosNeutral» Outperform History
Georgia-PacificGPPrudentialAccumulate» Strong Buy History
Hall, Kinion & AssocHAKIRobinson HumphreyST Mkt Perform» ST Buy History
Hormel FoodsHRLCS First BostonHold» Buy History
Imperial BancorpIMPJefferies & CoAccumulate» Buy History
JPM CompanyJPMXAdvestBuy» Strong Buy History
Johnson & JohnsonJNJPrudentialHold» Accumulate History
Jones Apparel GroupJNYBB Rbrtsn StphnsLT Attractive» Buy History
Kulicke and SoffaKLICAdams HarknessAccumulate» Strong Buy History
Kulicke and SoffaKLICPrudentialHold» Accumulate History
MallinckrodtMKGDain RauscherNeutral» Strong Buy History
Manhattan AssociatesMANHEVEREN Sec.IT Mkt Perform» IT Outperform History
Merck & CoMRKBT Alex. BrownBuy» Strong Buy History
Nabisco HoldingsNAGoldman SachsMkt Perform» Recomm. List History
On AssignmentASGNStephens IncNeutral» Outperform History
PAREXEL Int'lPRXLSalomon Smth BrnyOutperform» Buy History
Progressive CorpPGRMcDonald InvstBuy» Aggressive Buy History
Quintiles TransnationalQTRNING Brng Frmn SelzBuy» Strong Buy History
Quorum Health GroupQHGIING Brng Frmn SelzHold» Buy History
ServiceMasterSVMJanney MontgomeryAccumulate» Buy History
Storage TechSTKSoundviewHold» Buy History
Summit PptsSMTWheat First UnionOutperform» Buy History
Tupperware CorpTUPFriedman BillingsLT Buy» Buy History
Whitman CorpWHSchroder & CoOutperform» Outperf. Signif. History
eBay, IncEBAYDLJMkt Perform» Buy History

 
Downgrades
CompanySymbolBrokerage FirmDowngrade from:» Downgrade to:More

AXENT TechAXNTPrudentialStrong Buy» Accumulate History
Amazon.comAMZNS&P EquityAccumulate» Avoid History
Banco Rio de la PlataBRSSalomon Smth BrnyOutperform» Neutral History
Bemis CompanyBMSBT Alex. BrownStrong Buy» Mkt Perform History
Bemis CompanyBMSS&P EquityHold» Avoid History
Bemis CompanyBMSSalomon Smth BrnyBuy» Outperform History
Borders GroupBGPBT Alex. BrownStrong Buy» Buy History
Borders GroupBGPPrudentialStrong Buy» Accumulate History
Butler ManufacturingBBRAG EdwardsBuy» Maintain -
Cadmus CommsCDMSScott & StringfellowStrong Buy» LT Buy History
Cannondale CorpBIKEBB Rbrtsn StphnsLT Attractive» Mkt Perform History
Case CorpCSELegg MasonOutperform» Mkt Perform History
Cerus CorpCERSSG Cowen & CoStrong Buy» Buy -
CheckFree HoldingsCKFRWheat First UnionBuy» Outperform History
ChronimedCHMDHambrecht & QuistBuy» Hold -
Compaq ComputerCPQDLJTop Pick» Buy History
Cooper IndustriesCBECS First BostonBuy» Hold History
DSP GroupDSPGKaufman BrosST Buy» ST Hold History
DSP GroupDSPGSG Cowen & CoStrong Buy» Buy History
First Union CorpFTUBT Alex. BrownBuy» Mkt Perform History
First Union CorpFTUGoldman SachsRecomm. List» Mkt Outperform History
First Union CorpFTULehman BrosOutperform» Neutral History
First Union CorpFTUPaineWebberAttractive» Neutral History
GTECH HoldingsGTKCS First BostonStrong Buy» Buy History
Household Int'lHIPiper JaffrayBuy» Neutral History
Houston IndustriesHOUMrgn Stnly Dn WttrOutperform» Neutral History
Koala CorpKARESchroder & CoBuy» Neutral History
Koninklijke KPN NVKPNHSBC SecuritiesHold» Reduce History
NeoMagic CorpNMGCMrgn Stnly Dn WttrStrong Buy» Outperform History
NeoMagic CorpNMGCNB MontgomeryBuy» Hold History
On AssignmentASGNAG EdwardsAccumulate» Maintain History
Phoenix InvestmentPXPSalomon Smth BrnyBuy» Outperform -
Range ResourcesRRCSouthwest SecuritiesAccumulate» Neutral -
Saville SystemsSAVLYING Brng Frmn SelzStrong Buy» Buy History
Secure ComputingSCURBB Rbrtsn StphnsBuy» LT Attractive History
Service Corp Int'lSRVCS First BostonBuy» Hold History
Service Corp Int'lSRVJP MorganBuy» LT Buy History
Service Corp Int'lSRVNB MontgomeryBuy» Hold History
Telefonica del PeruTDPJP MorganBuy» Mkt Perform History
Thistle Group HoldingsTHTLFriedman BillingsLT Buy» Accumulate -
Whirlpool CorpWHRPrudentialStrong Buy» Hold History


 
Coverage Initiated
CompanySymbolBrokerage Firm» Initial Recommendation:More

ACT ManufacturingACTMCIBC Oppenheimer» Buy History
Assoc First CapitalAFSFriedman Billings» Buy History
At Home CorpATHMLehman Bros» Outperform History
Broadcast.comBCSTLehman Bros» Buy History
Covad CommsCOVDGoldman Sachs» Outperform History
Crescent R.E. Eqs (b)CEIMerrill Lynch» NT/LT Accum History
Dean FoodsDFBear Stearns» Neutral History
Donaldson, LufkinDLJMrgn Stnly Dn Wttr» Outperform History
Equity Office PropertiesEOPFriedman Billings» Accumulate History
First Virginia BanksFVBSalomon Smth Brny» Neutral History
IMS HealthRXGruntal & Co» Buy History
Insight EnterprisesNSITPiper Jaffray» Buy History
MedImmuneMEDISG Cowen & Co» Strong Buy History
Placer DomePDGCIBC Oppenheimer» Strong Buy History
Quanta ServicesPWRBear Stearns» Buy History
RR Donnelley & SonsDNYCS First Boston» Buy -
Range ResourcesRRCBT Alex. Brown» Strong Buy -
Saville Systems (b)SAVLYHambrecht & Quist» Buy History
Uniphase CorpUNPHNeedham & Co» Buy History
Unocal CorpUCLBT Alex. Brown» Buy History

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