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Technology Stocks : Network Appliance

NTAP 109.28

-2.0%

Nov 26 3:59 PM EST

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To: Cooters who wrote (5860)	1/24/2001 8:56:50 AM
From: Cooters	Read Replies (3) of 10934

RESEARCH ALERT - Goldman cuts Network Appliance --From AOL. -- Cooters NEW YORK, Jan 24 (Reuters) - Goldman Sachs said on Wednesday that it lowered its investment rating on Network Appliance to outperform from recommend, citing high valuation and softening demand in key markets. "We emphasize that our action is not reflective of a change in our positive view of NTAP's (Network Appliance) prospects in the storage networking market," Analyst Laura Conigliaro said in a research note. "While NTAP is expanding its exposure to new markets and gaining traction in existing ones, we are unable to convince ourselves that the gains here are enough to offset the likely slowing in telco and dot-coms for the near term," the research note added. Conigliaro's note scaled back expectations for the next several quarters on Network Appliance, but that acceleration and upward revisions are possible for fiscal 2002. Network Appliance closed at $73-9/16 on Tuesday. The stock's 52-week range is $152-3/4 and $41-1/8. 08:30 01-24-01

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