Analyst Action: New Stock Ratings

Among the new stock ratings issued Tuesday by Wall Street analysts:

* Atlantic Richfield Co. (ARC; $77.06, down 38 cents) was raised to “buy” from “hold” by Sandler O’Neill & Partners.

* Avista Corp. (AVA; $47, down $15) was downgraded to “reduce” from “maintain position” by A.G. Edwards & Sons Inc.

* Gemstar International Group Ltd. (GMST; $75, up $2.94) was rated “strong buy” in new coverage by CIBC World Markets, with a $108 target.

* PairGain Technologies Inc. (PAIR; $13.13, down 63 cents) was downgraded to “hold” from “buy” by SoundView Technology Group.

* TV Guide Inc. (TVGIA; $42, up 94 cents) was rated “strong buy” in new coverage by CIBC World Markets, with a $53 target.

* Univision Communications (UVN; $105.69, up $1.69) was raised to “strong buy” from “buy” by Deutsche Banc Alex. Brown.