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Technology Stocks : Avid Technology
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To: Perry Kivolowitz who wrote (233)5/16/1997 5:10:00 PM
From: Margureite deVille   of 777
 
Mr. Kivolowitz:

"Downgrading AVID on valuation - fundamentals look sound but more upside is needed to justify purchase at these levels." Prudential Securities, May 7, 1997

The note goes on to say, "Bill Miller and company have cleaned up the balance sheet, gone cash flow positive, put together an excellent suite of new products and relationships, and delivered a sparkling first quarter....We believe that getting the mutiple on AVID close to the company's projected long-term growth rate over the next 12-18 months will require another round of 'show me' from management, both from a cost control and a revenue growth perspective. Since our confidence in management's ability to do this is fairly high at this juncture, we believe that long-term investors should feel comfortable holding Avid's stock at these levels."

I hope this helps.

Marguerite

P.S. Are you the same Mr. Kivolowitz mentioned on the Oscar program this year?
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