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Upgrades & Downgrades - September 14
(last updated 6:03pm Eastern U.S. time)

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Upgrades
CompanySymbolBrokerage FirmUpgrade from:» Upgrade to:More

3Com CorpCOMSNeedham & CoBuy» Strong Buy History
3Com CorpCOMSPrudentialHold» Accumulate History
Applied MaterialsAMATBB Rbrtsn StphnsBuy» Strong Buy History
ChevronCHVCSFBHold» Buy History
Estee LauderELMerrill LynchNT Neutral» NT Accum History
Estee LauderELSalomon Smth BrnyOutperform» Buy History
KLA-TencorKLACBB Rbrtsn StphnsBuy» Strong Buy History
Nabors IndustriesNBRRobinson HumphreyST Mkt Perform» ST Buy History
NordstromJWNPacific CrestBuy» Strong Buy History
Proxim, Inc.PROXCE Unterberg TowbinBuy» Strong Buy History
Sempra EnergySREGoldman SachsMarket Perform» Market Outperform History
SolectronSLRCIBC Wrld MktsHold» Buy History
SolectronSLRThomas WeiselBuy» Strong Buy History
XilinxXLNXPrudentialAccumulate» Strong Buy History

 
Downgrades
CompanySymbolBrokerage FirmDowngrade from:» Downgrade to:More

3Com CorpCOMSJP MorganBuy» Mkt Perform History
Apache CorpAPACSFBBuy» Hold History
Atlantic RichfieldARCCSFBBuy» Hold History
Best BuyBBYBanc of America SecStrong Buy» Buy History
Brandywine RealtyBDNSalomon Smth BrnyBuy» Outperform History
Bristol-Myers SquibbBMYBanc of America SecStrong Buy» Buy History
Cabot IndustrialCTRSalomon Smth BrnyOutperform» Neutral History
Canadian 88 EnergyEEEDeutsche Bc Alex. BrBuy» Mkt Perform History
Coca-Cola EntprsCCEBanc of America SecBuy» Market Perform History
Colonial PropertiesCLPSalomon Smth BrnyOutperform» Neutral History
Crescent Real EstCEISalomon Smth BrnyBuy» Outperform History
Dean FoodsDFBanc of America SecStrong Buy» Buy History
Devon EnergyDVNCSFBStrong Buy» Buy History
Duke RealtyDREPaineWebberAttractive» Neutral History
Dvlps Divers. RealtyDDRSalomon Smth BrnyBuy» Outperform History
ESG Re LimitedESREFDeutsche Bc Alex. BrStrong Buy» Buy History
Eli Lilly & Co.LLYBanc of America SecStrong Buy» Buy History
Federal Signal Corp.FSSMcDonald InvstBuy» Hold History
Federal-MogulFMODLJTop Pick» Market Perform History
Federal-MogulFMOMerrill LynchLT Buy» LT Accum History
Federal-MogulFMOMerrill LynchNT Buy» NT Neutral History
FlashNet CommsFLASFirst Union Cap MktsBuy» Outperform History
Globe BusinessGLBEAG EdwardsBuy» Maintain Position History
Health Mgmt SysHMSYABN AMROBuy» Outperform History
Houston ExplTHXPaineWebberBuy» Attractive History
Intl Network SvcsINSSAdams HarknessStrong Buy» Market Perform -
JP Realty, Inc.JPRSalomon Smth BrnyOutperform» Neutral History
Keebler FoodsKBLBanc of America SecBuy» Market Perform History
Laidlaw, Inc.LDWCIBC Wrld MktsStrong Buy» Buy History
Lexington Corp.LXPSalomon Smth BrnyOutperform» Neutral History
Mack-Cali RealtyCLISalomon Smth BrnyBuy» Outperform History
NCR CorporationNCRMcDonald InvstAggressive Buy» Buy History
Nw Pln Excl RltyNXLSalomon Smth BrnyOutperform» Neutral History
Packaged Ice, Inc.ICEDBanc of America SecStrong Buy» Buy History
Pan Pac. Rtl Prop.PNPSalomon Smth BrnyOutperform» Neutral History
Pepsi BottlingPBGBanc of America SecStrong Buy» Buy History
Phosphate ResourcePLPDLJMarket Perform» Underperform History
Pogo ProducingPPPCSFBBuy» Hold History
Public StoragePSASalomon Smth BrnyBuy» Outperform History
SapientSAPEAdvest IncBuy» Market Perform History
Station CasinosSTNSchroder & CoOutperform» Perform-In-Line History
Stone EnergySGYCSFBBuy» Hold History
U.S. RestaurantUSVSalomon Smth BrnyOutperform» Neutral History
UNUM CorpUNMGoldman SachsMarket Outperform» Market Perform History
Vintage PetroleumVPICSFBBuy» Hold History
ZomaxZOMXPacific CrestStrong Buy» Buy History


 
Coverage Initiated
CompanySymbolBrokerage Firm» Initial Recommendation:More

99 Cents OnlyNDNDeutsche Bc Alex. Br» Buy History
AGL ResourcesATGGoldman Sachs» Market Perform History
Alliance Resource (a)ARLPLehman Brothers» Buy History
AmeriSource HlthAASMerrill Lynch» NT Neut/LT Accum History
America OnlineAOLE*OFFERING» Buy History
AmgenAMGNVolpe Brown Whelan» Neutral History
Bergen Brunswig (b)BBCMerrill Lynch» NT Neut/LT Accum History
Brown Shoe Co.BWSNeedham & Co» Buy History
Cardinal Health (b)CAHMerrill Lynch» NT Accum/LT Buy History
Cobalt Group (a)CBLTSG Cowen» Buy History
Conoco IncCOCABanc of America Sec» Buy History
Conoco Inc.COCBBanc of America Sec» Buy History
Dollar GeneralDGDeutsche Bc Alex. Br» Strong Buy History
Dollar TreeDLTRDeutsche Bc Alex. Br» Strong Buy History
EMC CorpEMCSG Cowen» Buy History
Equitable ResEQTGoldman Sachs» Recommended List History
Exchange AppsEXAPScott & Stringfellow» Strong Buy History
Family Dollar (b)FDODeutsche Bc Alex. Br» Strong Buy History
Genzyme GeneralGENZWarburg Dillon Read» Buy History
H & R BlockHRBMrgn Stnly Dn Wttr» Neutral History
Home DepotHDDeutsche Bc Alex. Br» Strong Buy History
IMS HealthRXJosephthal & Lyon» Buy History
Labranche & Co.LABABN AMRO» Buy History
Labranche & Co. (a)LABDLJ» Buy History
Labranche & Co. (a)LABSalomon Smth Brny» Buy History
Level 3 CommsLVLTBanc of America Sec» Buy History
Lionbridge Tech (a)LIOXPrudential» Accumulate History
Lionbridge Tech (a)LIOXUSB Piper Jaffray» Buy History
Looksmart Ltd (a)LOOKBB Rbrtsn Stphns» Buy History
Looksmart Ltd (a)LOOKGoldman Sachs» Market Outperform History
Looksmart Ltd (a)LOOKHambrecht & Quist» Buy History
Lowe's CosLOWDeutsche Bc Alex. Br» Buy History
MCN Energy GrpMCNGoldman Sachs» Market Outperform History
McKesson HBOC (b)MCKMerrill Lynch» NT Neut/LT Accum History
MyPoints.com (a)MYPTBB Rbrtsn Stphns» Buy History
MyPoints.com (a)MYPTBear Stearns» Buy History
MyPoints.com (a)MYPTSalomon Smth Brny» Buy History
NICOR Inc.GASGoldman Sachs» Market Outperform History
NOVA ChemicalsNCXMrgn Stnly Dn Wttr» Outperform History
National Fuel GasNFGGoldman Sachs» Market Outperform History
Pan Pac. Rtl Prop.PNPCIBC Wrld Mkts» Buy History
Peoples EnergyPGLGoldman Sachs» Market Perform History
Piedmont Natl GasPNYGoldman Sachs» Market Outperform History
PolycomPLCMThomas Weisel» Buy History
S3 IncorporatedSIIIWedbush Morgan» LT Attractive History
SPR Inc. (b)SPRIVolpe Brown Whelan» Neutral History
Saks IncSKSAG Edwards» Maintain Position History
Wash. Gas LightWGLGoldman Sachs» Market Outperform History
Wink Comms (a)WINKBear Stearns» Attractive History

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