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On Friday, Morgan Stanley Dean Witter said that analyst Bob Chewning will raise his rating on Midamerican Energy Holdings Co. to outperform from neutral and set a 12-month price target of $35.

Midamerican shares have been weak recently after British regulators ordered the company to address billing complaints made by customers.

The upgrade is based on revised financial projections thorugh 2002. Chewning raised earnings per share estimates to $2.11 from $1.99 and to $2.40 from $2.15 for 2000. Further projections were not detailed in the firm's research note.

To see the press release click on the "Quote" box near the top of this page, scroll to "News" then hit the "GO" button.

Keep Foolish and prosper,

Spirit
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