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Technology Stocks : Newbridge Networks

NN 11.36

-9.3%

3:59 PM EST

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To: Ian@SI who wrote (3337)	2/25/1998 10:15:00 AM
From: Tunica Albuginea	Read Replies (1) of 18016

Ian, I just talked to Merrill Lynch: Their best analyst Joe Bellace who's been following NN for the last 3 years had a 3 (neutral) opinion on it until yesterday. This am he came on the squawk box and reiterated it: no change. In particular he did not downgrade it. I discussed the case with my broker again. The numbers-EPS for '98 are .71 by Merrill and .69 by Zacks with PE 30. However '98 will be over in 1 month. In April NN starts 99. For 99 the numbers are .95- 1.05(ML) and .87 ( Zacks) giving a PE of 22. Merrill has NN growing at 30% per year so that 22 is a big discount. Because their ATMs grew by 150% so far this quarter compared to 1 year ago is it possible NN could have a higher growth rate? At these prices sounds like a good buy. I remember Oracle 2 months ago: down from 30 to 22 and then few days later to 17.5. Since then up to 23 and then 26 - 27. NN to duplicate that?: 30 to 22 and then 19 and now 22 . Back up to 28 soon? ( gg). TA

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