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Upgrades & Downgrades - January 11
(last updated 12:00pm Eastern U.S. time)

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Upgrades
CompanySymbolBrokerage FirmUpgrade from:» Upgrade to:More

ADC TelecommsADCTWarburg Dlln RdHold» Buy History
AlcoaAAPrudentialHold» Strong Buy History
America West HldgsAWACIBC OppenheimerHold» Buy History
Andrew CorpANDWPaineWebberNeutral» Attractive History
Applied MaterialsAMATSG Cowen & CoBuy» Strong Buy History
Bear StearnsBSCSchroder & CoPerform In Line» Outperform History
Brooks AutomationBRKSSG Cowen & CoBuy» Strong Buy History
CIGNA CorpCIPaineWebberAttractive» Buy History
Consolidated PapersCDPCIBC OppenheimerHold» Buy History
DaimlerChrysler AGDCXHSBC SecuritiesHold» Buy History
Ethan Allen InteriorsETHCS First BostonBuy» Strong Buy History
Firstar CorpFSRMcDonald InvstHold» Buy History
Giga Information GroupGIGXFriedman BillingsAccumulate» Speculative Buy History
LM EricssonERICYPaineWebberNeutral» Attractive History
ManpowerMANPrudentialHold» Accumulate History
NordstromNOBENB MontgomeryHold» Buy History
Oracle CorpORCLSoundviewBuy» Strong Buy History
PacificSunwearPSUNBB Rbrstn StphnsLT Attractive» Buy History
Quantum CorpQNTMGruntal & CoHold» Strong Buy History
RealNetworksRNWKFriedman BillingsAccumulate» Buy History
TellabsTLABWarburg Dlln RdHold» Buy History
Urban OutfittersURBNJanney MontgomeryAccumulate» Buy History
Walt DisneyDISING Brng Frmn SelzHold» Buy History
YPF Sociedad AnonYPFMerrill LynchNT Neutral» NT Accumulate History

 
Downgrades
CompanySymbolBrokerage FirmDowngrade from:» Downgrade to:More

AMBAC FinancialABKAdvestStrong Buy» Buy History
AmSouth BancorpASOInterstate/JohnsonBuy» Neutral History
Atlantic RichfieldARCBT Alex. BrownStrong Buy» Buy History
AutodeskADSKAdams HarknessAccumulate» Mkt Perform History
BB&T CorpBBTInterstate/JohnsonLT Buy» Neutral History
BankAmericaBACInterstate/JohnsonStrong Buy» LT Buy History
Campbell SoupCPBDeutsche BankAccumulate» Hold History
Campbell SoupCPBMerrill LynchNT Buy» NT Neutral History
ClarifyCLFYAdams HarknessAccumulate» Mkt Perform History
Dionex CorpDNEXCIBC OppenheimerBuy» Hold History
Enron CorpENEFAC/Eqts Fst AlbanyStrong Buy» Buy History
ForcenergyFENSalomon Smth BrnyOutperform» Neutral History
Ford Motor CoFGoldman SachsTrading Buy» Mkt Outperform History
Gucci Group NVGUCABN AMROBuy» Overvalued History
Gucci Group NVGUCCS First BostonBuy» Hold History
IDT CorpIDTCCS First BostonStrong Buy» Hold History
Koninklijke KPN NVKPNGoldman SachsRecomm. List» Mkt Outperform History
Mercury InteractiveMERQAdams HarknessAccumulate» Mkt Perform History
Occidental PetroleumOXYPaineWebberBuy» Neutral History
Ocean EnergyOEISalomon Smth BrnyBuy» Outperform History
Pacific Gateway ExchPGEXBT Alex. BrownStrong Buy» Buy History
Pacific Gateway ExchPGEXBear StearnsBuy» Neutral History
Pacific Gateway ExchPGEXCS First BostonBuy» Hold History
Pacific Gateway ExchPGEXGoldman SachsRecomm. List» Mkt Outperform History
Pacific Gateway ExchPGEXMrgn Stnly Dn WttrStrong Buy» Outperform History
Penske MotorsportsSPWYRaymond JamesBuy» Accumulate History
Segue SoftwareSEGUAdams HarknessAccumulate» Mkt Perform History
Shared Medical SysSMSGruntal & CoBuy» Hold History
Siebel SystemsSEBLAdams HarknessAccumulate» Mkt Perform History
Startec Global CommsSTGCCS First BostonStrong Buy» Buy History
TCI GroupTCOMANB MontgomeryBuy» Hold History
Theragenics CorpTGXSalomon Smth BrnyBuy» Neutral History
Tomkins PLC ADRTKSHSBC SecuritiesAdd» Hold History


 
Coverage Initiated
CompanySymbolBrokerage Firm» Initial Recommendation:More

AlkermesALKSAdams Harkness» Strong Buy History
Applied PowerAPWBB Rbrtsn Stphns» Buy History
Boyd Gaming CorpBYDCIBC Oppenheimer» Hold History
CIGNA CorpCIPrudential» Strong Buy History
Closure MedicalCLSRStephens Inc» Buy History
Compass BancsharesCBSSInterstate/Johnson» LT Buy History
Concur Tech (a)CNQRBB Rbrtsn Stphns» Buy History
Concur Tech (a)CNQRHambrecht & Quist» Buy History
Concur Tech (a)CNQRPiper Jaffray» Buy History
Correctional PropertiesCPVJC Bradford» Buy History
E-Tek DynamicsETEKMrgn Stnly Dn Wttr» Neutral History
First Union CorpFTUJanney Montgomery» Accumulate History
Granite ConstructionGVAMrgn Stnly Dn Wttr» Neutral History
InfoSpace.com (a)INSPDain Rauscher» Buy History
Infospace.com (a)INSPHambrecht & Quist» Buy History
KrogerKRAG Edwards» Accumulate History
Merkert American (a)MERKScott & Stringfellow» Strong Buy History
Merkert American (a)MERKWheat First Union» Buy History
Rowe FurnitureROWScott & Stringfellow» LT Buy History
Stone & WebsterSWMrgn Stnly Dn Wttr» Outperform History
go2netGNETPacific Crest» Strong Buy History

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