text: RESEARCH ALERT - Lehman starts SNET . -- Lehman analyst Blake Bath started Southern New England Telecommunciations Corp with an outperform rating , his office said . -- The analyst set a 12-month price target of $ 45 and a fiscal 1996 year earnings estimate of $ 3.09 per share , his office said . -- The analyst also set an earnings estimate for the 1997 year , but the figure was not immediately available . -- Southern New England closed at 38-1/2 Wednesday . -- E. Auchard , Wall Street bureau , 212-859-1736