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Technology Stocks : PairGain Technologies

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To: bronco2 who wrote (34878)	11/23/1999 5:29:00 PM
From: Larry J.	Read Replies (1) of 36349

Eric, yes, I have the report, and it's not exactly what it seems (a downgrade). The report explains that Unterberg implemented a new rating system and the new one does not have a "long-term buy" rating. Do to the recent run-up in PAIR's share price and an $18 target, they figured that "NEUTRAL" was appropriate. "With our previous Long-Term Buy rating on Pairgain being eliminated, we are now instituting the newly established rating of Neutral on PairGain. The neutral rating implies a 12-month total return of less than 15%. Since PairGain is very close to our current 12-month price target of $18 per share, we are comfortable with our Neutral rating on the stock." Larry

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