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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: DJBEINO who wrote (18530)11/16/1997 10:26:00 PM
From: E_K_S  Read Replies (2) of 42771
 
Sunday November 16, 4:47 pm Eastern Time

Novell seen as good buy - Barron's

NEW YORK, Nov 16 (Reuters) - Novell Inc has come to be seen as a good buy by at least one investor, as the computer networking software company is taking steps to reverse its lackluster performance, according to a column in the financial weekly Barron's.

In the tabloid's latest issue, dated November 17, Alan Abelson cited in his column ''Up & Down Wall Street'' a ''fellow'' who considered the company a good investment, seeing how its stock ended at 8-1/8 on the Nasdaq market on Friday, near a year low of 6-4/16.

Abelson said the company appeared to be making the ''right moves'' by ''ditching some doggy units'' and recruiting a new chief executive officer from Sun Microsystems Inc (Nasdaq:SUNW - news).

''He expects the company will be in the black in fiscal '98 and offers a comfort factor: It has no long-term debt and $3 a share in cash,'' he wrote. ''Not a sure thing, by any means, he stresses -- but that's why the stock's selling at 8.''

Abelson said the company had been losing money, making some unrewarding acquisitions and struggling against the competition presented by software rival Microsoft Corp (Nasdaq:MSFT - news).

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Let's keep an eye on the volume tomorrow to see if this Barron's article attracts some new buying. I am still not convinced and think we will see $6 before we see $10...but this is just my opinion.

EKS
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