WALL STREET STOCKS/BROWNING FERRIS <BFI>
The Environmental Protection Agency's
five to 10 mln dlr suit against a Browning-Ferris Industries
Inc <BFI> unit, CECOS International Inc, caused the stock to
drop today, analysts said.
    The stock has fallen 2-1/4 to 56-1/8 so far today, after
the news about the suit was released this morning.
    "It's potentially a big suit and investors feel that its
not good to go against regulators," Kenneth Ch'u-K'ai Leung, a
Smith Barney analyst said.
    "What investors are actually saying by selling off some BFI
shares is the cloud over this industry is the threat that the
EPA will get tough on waste management companies," Willard
Brown, senior analyst for First Albany Corp.
    "Investors are saying to themselves that waste management
companies have that kind of exposure to regulatory suits,"
Brown said. Brown said if the suit were settled for 10 mln dlrs
it would have an impact on Browning Ferris earnings.
    Leung said, however, that Browning-Ferris has adequate cash
reserves to cover the fine. "It would have no impact on
earnings whatsoever," he said.
 Reuter
