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Technology Stocks : FDC : First Data Corp

FDC 31.69

0.0%

Aug 5 5:00 PM EST

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To: Thomas C. White who wrote (90)	9/8/1997 5:36:00 PM
From: Dale Stempson	of 323

Thank you Thomas (and thank you DLJ). BTW, a friend told me shortly after the market close that someone on CNBC stated that MS's downgrade was based on a revision in MS's growth estimate from 20% to 18% and thus they changed their target price from $53 to $48, (and CNBC also mentioned DLJ's Strong Buy reiteration and their contention that the revenue growth revisions had already been priced in). Since I received this info second-hand, I would appreciate it if someone who heard the actual report would confirm the specifics of this info. It would now appear that we have nothing to worry about, MS's opinion is based on old news, and we were correct to buy on the dip today. (note: I didn't bid the entire quantity I wanted to today, just in case we were to see continued selling. I'll be watching the open closely tomorrow and might just have to bid the balance early to get some under 38). Regards - Dale

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