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Strategies & Market Trends : Charts for Breakout

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To: Julius Wong who started this subject	7/17/2000 12:22:48 PM
From: art slott	Read Replies (1) of 3506

IBM seems poised for a breakout. Earnings out on Wed(close). IBM gets SG Cowen boost --11:40 am - By Tomi Kilgore IBM (IBM: news, msgs) is tacking on 3 1/8 to 107. SG Cowen analyst Steve Weber called the stock the "bottom line action idea for the week." He believes the company should return to a "more normal revenue growth" in the second half of the year, and beyond, with much less cyclicality than in the past," as strong growth resumes of its services and software businesses. Weber thinks the company will be outgrowing most of the premier growth stocks, with about 20 percent EPS growth this year. His 9- to 12-month price target for the stock is $140-$150. IBM's 52-week high is 138 7/8.

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