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Technology Stocks : AT&T
T 27.13-0.7%Feb 6 9:30 AM EST

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To: Andrew Furst who wrote (213)3/6/1997 2:25:00 PM
From: Vladimir Zelener   of 4298
 
<< I'd personally guess that "T" will find a level in the lower
$30's, until Wall Street becomes convinced that John Walter is fully in charge and serious about restructuring. >>

What do you mean "serious restructuring" ? If you are talking about personnel cuts, then I must disagree. In my view T's highest priopity goal at this time must become the quick and substantial penetration into local telecommunication market and IMO this will require as much if not more technical personnel as T has.

With projected by "T" management earnings at about $2.70 (and this is done with the assumption that Long Distance competition from RBOCs does not undercut it even further) I think T could slide to upper twenties, especially if the DJ corrects to 6400 - 6500.
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