Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 161.74

-2.6%

1:44 PM EST

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To: John Meares who wrote (65874)	2/2/2000 9:39:00 PM
From: Bob Kim	Read Replies (1) of 152472

John, Merrill Lynch's intermediate-term and long-term ratings refer to appreciation potentials for 0-12 months and >12 month time horizons, respectively. The long-term rating is often meaningless. For example, every stock in Henry Blodget's coverage is rated long-term Buy. Buy = 20%+ appreciation potential over designated horizon Accumulate = 10% to 20% Neutral = -10% < x < 10% Reduce= -10% to -20% Sell = -20%+ A stock with an intermediate-term Neutral rating has no price target. When a price target is referred to as a 12 month target then the intermediate-term rating has precedence. All intermediate-term Buy rated stock should have 12 month price targets, regardless of the long-term rating, but some analysts violate this guideline. There is a loophole that allows a stock rated Accumulate/Buy to have a price target with >20% upside potential if it is designated a 12-18 month price target. In that case the long-term rating has precedence.

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