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Technology Stocks : MONI - Marconi Nasdaq ADR -- Ignore unavailable to you. Want to Upgrade?

To: ms.smartest.person who wrote (75)	7/4/2001 5:40:31 AM
From: ms.smartest.person	Read Replies (1) \| Respond to of 129

Ratings Watch: Marconi cut Merrill adds Dixons to Europe-1 list By Heather Peacocke, FTMarketWatch.com 5:51:00 PM BST Jul 3, 2001 LONDON (FTMW) - Morgan Stanley cut Marconi's [UK:MONI] [US:MONI] price target and earnings estimates on Tuesday after more bad news from its European and North American counterparts. "We believe management's ability to sustain operating margins through the downturn and stabilise cash flow are the key to valuation and sentiment," Morgan Stanley analysts said. The company's price target was cut to £3.15 from £5 and 2001/02 earnings per share estimates were reduced to 14 pence. This is the second time in the past month Marconi has been slashed by analysts. The first round of downgrades came after warnings from industry leaders Nortel [US:NT] and JDS Uniphase [US:JDSU]. See Marconi, Bookham cut "We believe the valuation is discounting excessive fears over the company's liquidity. However, the current market environment is difficult and visibility remains low," Morgan Stanley said. Here is a selection of ratings alerts on FTMarketWatch on Tuesday: [FR:003112] SSSB SAYS UPGRADES AIR FRANCE TO 'OUTPERFORM' FROM 'NEUTRAL' [FR:003112] SSSB SAYS FORTHCOMING ALITALIA ALLIANCE COULD BOOST AIR FRANCE EBIT BY 10-20% IN 3 YEARS [UK:MONI] [US:MONI] MORGAN STANLEY SAYS CUTS MARCONI PRICE TARGET TO 315 PENCE FROM 500 PENCE MORGAN STANLEY SAYS FRIENDS PROVIDENT PRICING BETWEEN 210P AND 246P IS ATTRACTIVE [FR:012101] MERRILL LYNCH SAYS CUTS LVMH 2001 EPS ESTIMATE BY 12% TO €1.78, KEEPS ACCUMULATE [DE:905373] LEHMAN SAYS CUTS CIBA 2001 EPS FORECAST BY 11% TO €6.33 [FR:012013] S&P SAYS RAISES RODIA'S LONG-TERM CREDIT OUTLOOK TO STABLE FROM NEGATIVE GOLDMAN SAYS STARTS INDITEX WITH "MARKET OUTPERFORMER" RATING GOLDMAN SAYS VALUATION GAP BETWEEN INDITEX AND H&M HAS CLOSED [US:SAP] [DE:716460] GOLDMAN SAYS USE SAP'S SHARE PRICE WEAKNESS AS BUYING OPPORTUNITY [UK:BSY] CSFB SAYS BSKYB'S CURRENT SHARE PRICE OFFERS UNIQUE OPPORTUNITY [UK:DXNS] MERRILL LYNCH SAYS ADDS DIXONS TO EUROPE-1 LIST [UK:SCTN] UBS WARBURG RAISES S&N PRICE TARGET TO 580P FROM 550P, KEEPS "BUY" [UK:RTO] UBS SAYS RAISES RENTOKIL PRICE TARGET TO 265P FROM 253P. KEEPS "BUY" [UK:SRP] UBS SAYS CUTS SERCO PRICE TARGET TO 400P FROM 550P, KEEPS "HOLD" [NL:34074] UBS SAYS CUTS LAURUS PRICE TARGET TO €7 FROM €9, KEEPS "HOLD" [UK:CRH]JP MORGAN SAYS CUTS CRH 2001/02 EPS FORECASTS TO €1.22 FROM €1.29 AND €1.32 FROM €1.40 See FTMarketWatch analyst research centre ftmarketwatch.com