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Technology Stocks : Newbridge Networks

NN 16.22

-2.5%

Jan 2 9:30 AM EST

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To: Anthony Aquino who wrote (2398)	11/5/1997 1:10:00 PM
From: Method	of 18016

RESEARCH ALERT - Newbridge target cut NEW YORK, Nov 5 (Reuters) - SBC Warburg Dillon Read said Wednesday that analyst Robert MacLellan lowered his target price on NYSE-listed shares in Newbridge Networks Corp (NN) but maintained a buy rating on the stock. Cut 12-18 month target price to a range of $66-70 from $75-80. Cut fiscal 1998 earnings estimate to $1.09 per share from $1.37 and 1999 estimate to $1.65 from $1.92. Cut expectations for local area network (LAN) sales, following Newbridge's warning late Monday that business in the segment was soft.

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