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Strategies & Market Trends : Joe Stocks Trader Talk

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To: Joe Stocks who started this subject	2/27/2002 2:24:18 PM
From: Joe Stocks	of 787

AMT- 17% of float is short. This from breifing.com. 09:58 ET American Tower: pre-open downgrade by Bear Stearns (AMT) 4.60 +0.33: Stock has rallied 8% so far in the session, despite a pre-open Bear Stearns downgrades to NEUTRAL from Buy; firm maintains that the long-term value of AMT is far higher than the current stock price indicates, however there are multiple overhangs that will prevent the stock price from achieving that value for at least a couple of qtrs. Lowers price target to $6 from $21. It is worth noting that the short interest on AMT is 17% of the float, so short-covering may explain at least in part the initial jump in the stock.

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