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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: DJBEINO who wrote (27313)7/6/1999 11:53:00 AM
From: Spartex  Read Replies (2) of 42771
 
NEW YORK (Dow Jones)--Improved earnings expectations and easing
concerns about interest rates helped convince Prudential's Ralph Acampora to
bump up his 1999 target on the Dow Jones Industrial Average.

The well-known technical analyst raised his conservative target on the blue-chip
indicator to 12000-12300. Acampora moved up his aggressive long-term target
to 12500-13000, saying that many individual stocks look technically attractive.

"As long as we are able to uncover a broad list of buy ideas we can raise our
Dow target(s)," Acampora said in a research note.

Acampora said last week's activity brought with it the end of a three-month
trading range for major stock-market averages.

"This is very encouraging and is now looked upon as the initial stage of a very
broad-based advance that will take the Dow above our old 1999 target of
11500," Acampora said.

Among the stocks Acampora finds attractive: American International Group Inc.
(AIG), America Online Inc. (AOL), Bristol-Myers-Squibb Co. (BMY), Dollar
General Co. (DG), Novell Inc. (NOVL), and Tellabs Inc. (TLAB).

"Be aggressive because we believe that this summer season will be a very
exciting and bullish affair," Acampora said.

- By Thomas Granahan; 201-938-5106
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