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Non-Tech : Moguls Mantra to the Markets
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To: SouthFloridaGuy who wrote (41)12/11/2000 2:58:25 PM
From: noneed  Read Replies (2) of 220
 
talk about your bad luck.......

12/11 07:44 CSFB SAYS CUTS HOT TOPIC <HOTT.O> TO HOLD
RATING FROM BUY

NEW YORK, Dec 11 (Reuters) - Credit Suisse First Boston said on
Monday that it lowered its investment rating to hold from buy on Hot
Topic Inc. <HOTT.O>, a retailer that offers apparel and gifts aimed at
the teen and young adult market.

Credit Suisse First Boston lowered the investment rating based on
valuation and the potential risk/reward of the stock after the stock
topped the brokerage's $40-a-share price target.

"With 15 percent upside compared to as much as 50 percent
downside, we believe the risk/reward relationship has sung in favor of
being less aggressive on this stock" the firm's research note said.

Hot Topic shares closed at $41-3/16 on Friday, Dec. 8. The stock's
52-week high was reached Dec. 6, while the low of $14-5/8 was
reached Feb. 25.

The retailer is on track to meet fourth quarter earnings estimates of 93
cents a share, but peak operating margins present some risk and that
the potential for further investment gains is overshadowed by the
potential for downside in a slowing sales environment. "We remain
positive on the company but would look for a more attrative entry point
to buy this stock," the research note said.

((New York newsroom, 212 859-1700, fax 212 859-1717, or
nyc.equities.newsroom@reuters.com))
COPYRIGHT © 1999 REUTERS LIMITED. ALL RIGHTS RESERVED.
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