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Upgrades & Downgrades - February 25
(last updated 4:36pm Eastern U.S. time)

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Upgrades
CompanySymbolBrokerage FirmUpgrade from:» Upgrade to:More

ACT ManufacturingACTMAG EdwardsAccumulate» Buy History
Amazon.comAMZNBB Rbrtsn StphnsBuy» Strong Buy History
Barrett ResourcesBRRSalomon Smth BrnyOutperform» Buy History
Bausch & LombBOLMerrill LynchLT Accumulate» LT Buy History
Burlington ResourcesBRSalomon Smth BrnyNeutral» Outperform History
Campbell SoupCPBSchroder & CoPerform In Line» Outperform History
DeVRYDVBear StearnsNeutral» Attractive History
Devon EnergyDVNSalomon Smth BrnyOutperform» Buy History
Dominion ResourcesDLehman BrosNeutral» Buy History
Enron Oil & GasEOGSalomon Smth BrnyOutperform» Buy History
Forest Oil CorpFSTSalomon Smth BrnyNeutral» Buy History
Fort James CorpFJPaineWebberNeutral» Attractive History
Franchise FinanceFFAJC BradfordBuy» Strong Buy History
Fruit of the LoomFTLMrgn Stnly Dn WttrNeutral» Outperform History
Gilead SciencesGILDMerrill LynchNT Neutral» NT Accumulate History
Houston ExplorationTHXSalomon Smth BrnyOutperform» Buy History
Louis Dreyfus Ntrl GasLDSalomon Smth BrnyOutperform» Buy History
McLeodUSAMCLDGoldman SachsMkt Outperform» Recomm. List History
Noble AffiliatesNBLSalomon Smth BrnyNeutral» Outperform History
NovelNOVLMrgn Stnly Dn WttrNeutral» Outperform History
Oak IndustriesOAKSalomon Smth BrnyOutperform» Buy History
Polaroid CorpPRDMerrill LynchLT Accumulate» LT Buy History
Polaroid CorpPRDMerrill LynchNT Neutral» NT Accumulate History
Santa Fe EnergySFRSalomon Smth BrnyOutperform» Buy History
Swift EnergySFYSalomon Smth BrnyOutperform» Buy History
Tom BrownTMBRSalomon Smth BrnyNeutral» Outperform History
Unocal CorpUCLSalomon Smth BrnyNeutral» Outperform History
Vastar ResourcesVRISalomon Smth BrnyNeutral» Outperform History
Westpoint StevensWPSNMrgn Stnly Dn WttrOutperform» Strong Buy History

 
Downgrades
CompanySymbolBrokerage FirmDowngrade from:» Downgrade to:More

AK Steel HoldingAKSDLJBuy» Mkt Perform History
Allied HealthcareAHPIAG EdwardsAccumulate» Maintain -
AutodeskADSKDain RauscherStrong Buy/Aggr» Buy/Aggr History
BMC SoftwareBMCSPrudentialStrong Buy» Accumulate History
BioRelianceBRELHambrecht & QuistBuy» Hold History
General MillsGISDLJBuy» Mkt Perform History
Keebler FoodsKBLDLJBuy» Mkt Perform History
MedtronicMDTBear StearnsBuy» Attractive History
MicroAgeMICAAdvestBuy» Mkt Perform History
North FaceTNFIMrgn Stnly Dn WttrStrong Buy» Outperform History
Twinlab CorpTWLBAdams HarknessStrong Buy» Accumulate History
US Franchise SysUSFSSchroder & CoOutperform» Perform In Line History
WM Wrigley Jr CoWWYDLJMkt Perform» Underperform History


 
Coverage Initiated
CompanySymbolBrokerage Firm» Initial Recommendation:More

Agrium (b)AGUMerrill Lynch» NT/LT Buy History
CBT Group PLCCBTMerrill Lynch» NT Ntrl/LT Accum History
Companhia Sid (b)SIDMerrill Lynch» NT Ntrl/LT Accum History
EarthLink NetworkELNKLadenburg Thalmann» Buy History
Flowserve CorpFLSSchroder & Co» Perform In Line History
IMC Global (b)IGLMerrill Lynch» NT Accum/LT Buy History
IMRglobal CorpIMRSLehman Bros» Outperform History
KeaneKEALehman Bros» Neutral History
Learning Tree Int'lLTREMerrill Lynch» NT Ntrl/LT Accum History
MDC HoldingsMDCDLJ» Buy History
Mississippi Chem (b)GROMerrill Lynch» NT Ntrl/LT Buy History
Nat'l Commerce BancNCBCMcDonald Invst» Buy History
NovelNOVLNB Montgomery» Buy History
Pinnacle HoldingsBIGTBT Alex. Brown» Strong Buy -
Pinnacle HoldingsBIGTSalomon Smth Brny» Buy -
Potash Corp (b)POTMerrill Lynch» NT Accum/LT Buy History
Terra IndustriesTRAMerrill Lynch» NT Ntrl/LT Accum History
USA NetworksUSAICS First Boston» Buy History
Walt DisneyDISJP Morgan» Buy History

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