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Non-Tech : OAKLEY- NYSE:OO

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To: Dr. Jeff who wrote (538)	6/11/1997 12:41:00 PM
From: Night Trader	of 1383

Highlights of the new Merrill Lynch report on OO: Maintaining "neutral" (i.e. don't buy) in the short term and a strong buy in the long term. Earnings esimates: '97:45 to 55/shr '98:60 to 65/shr and expects downward earnings revisions to have now ended.Long term eps growth 17.5% * OO brand solid and will likely gain market share. Nike not yet a threat *Inventories reduced and less dependence on RAYS. Calls to 15 non-RAYS retailers indicate total sunglass sales up this year with OO in-line or better than overall Of course they could be a bit cagey here, what with the coming lawsuit against them. No doubt it will be upgraded back to a short-term buy when it gets higher than when they originally downgraded it! ML had its highest rating on this stock remember when it was at $27 last summer. Martin Knight

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