Microsoft Corp. Raised to 'Avoid' at First Allied
10/5/00 10:51:00 AM
Source: Bloomberg News
Princeton, New Jersey, Oct. 5 (Bloomberg Data) -- Microsoft Corp. (MSFT US) was raised to ''avoid'' from ''sell'' by analyst Axxel Knutson at First Allied Securities.
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October 5, 2000: Axxel Knutson, President & Chief Investment Officer [CIO] of TradingWeapon.com in Warren, New Jersey, an OSJ* office of First Allied Securities Inc., an NASD/SIPC member, today raised his rating on Microsoft [MSFT] from "Sell" to "Avoid." According to Knutson, "As Microsoft gets closer to our target of $39-45 it becomes prudent to lessen our aggressiveness on the sell side by increasing our rating to 'Avoid.' Our negative opinion was prompted from what we thought was excessive market exuberance related to the new product offerings of MSFT in December, 1999, particularly in view of the non-revolutionary nature of the offerings, the fact that the company refused to get in front of its problems with the Justice Department and the very real competitive threat of open architecture as best illustrated by Linux technology. But now within ten points of the upper band of our price objective, it makes sense to moderate our guidance." TradingWeapon.com is located at 197 Mountainview Road, Warren, New Jersey 07059 TEL: 908-647-5750.
· Office of Supervisory Jurisdiction
AXXel Knutson
www.TradingWeapon.com
axxel@blast.net
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