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Technology Stocks : Network Appliance

NTAP 109.43

-0.3%

3:59 PM EST

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To: JRH who wrote (4012)	8/15/2000 9:22:37 AM
From: Bob Kim	Read Replies (1) of 10934

Here come the raised estimates and upgrades.... Apparently, ML is wimping out. They kept their price target at $105 even though they raised numbers. During the quarter they raised the price target two or three times without any estimate changes (just changes in the stock price). Based on yesterday's close of $90 3/4, NTAP doesn't even qualify for a Buy rating at ML with only 15% upside potential. I guess they were taking into account the after-hours weakness.

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