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Strategies & Market Trends : Charts for Breakout

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To: Jim Battaglia who wrote (103)	5/27/2000 6:41:00 AM
From: Jim Battaglia	Read Replies (1) of 3506

NCR!! Target 57!! Shares of NCR Corp. (NCR: news, msgs) climbed 2 1/2, or 6.5 percent, to 40 13/16 Friday after Salomon Smith Barney analyst John Jones Jr. lifted his rating on the stock to "buy" from "outperform" and his price target to $57 from $45. The catalyst for Jones' upgrade was a "well attended analyst meeting" on Wednesday at which Jones said he gained confidence in his outlook for the company's key businesses. "We have concluded there is upside to the outlook and believe a valuation multiple of 20 times next year's earnings better characterizes the company's outlook and opportunities," Jones said in his note to clients. For the first time in years, Jones said, there is real opportunity for growth in the company's services business, the ATM business is beginning to recover and data warehousing is showing "real growth. charts.go2net.com JR

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