NEW YORK (CNNfn) - The announced merger of investment banks Credit Suisse Group and Donaldson, Lufkin & Jenrette had Wall Street analysts bullish about another key securities firm Wednesday
ING Barings upgraded J.P. Morgan (JPM: Research, Estimates) to "buy" from "hold" and set a 12-month price target for the Dow component of $200.
Merrill Lynch also praised the company, noting its stock could reach above $180 per share by the end of 2001.
Speculation mounted as to what other investment banks were ripe for consolidation on the heels of the acquisition of U.S. investment bank Donaldson, Lufkin & Jenrette (DLJ: Research, Estimates) by Credit Suisse.
In late morning trading, J.P. Morgan gained $4.25 to $153.25. 
Merrill Lynch raised its 12-month price target on Corning (GLW: Research, Estimates) to $400 from $375, forecasting continued growth on the telecom company's technology-related businesses.
Corning rose $11.44 to $321.06.
Dot.com companies were also in favor with analysts. Donaldson, Lufkin & Jenrette maintained "top pick" ratings on both America Online (AOL: Research, Estimates) and Amazon.com (AMZN: Research, Estimates) after Amazon announced Tuesday it renewed its marketing agreement with AOL.
The brokerage estimates the value of the new deal at more than double the amount of the previous $19 million agreement negotiated in 1997.
AOL, the world's No. 1 provider of online services, is in the process of acquiring Time Warner, the parent company of CNNfn.com.
Lehman Brothers initiated coverage of Inktomi (INKT: Research, Estimates) with a "buy" rating and $150 price target. Lehman said the company is the market leader in providing caching and search engine software.
Shares of Inktomi jumped $4.38 at $123.56.
In other ratings updates, Credit Suisse First Boston reiterated its "strong buy" recommendation on Nokia (NOK: Research, Estimates), a leading telecom company. 
-- compiled from staff and wire reports
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