Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Mama Bear who wrote (10617)	6/26/1998 12:31:00 PM
From: Don Roberts	Read Replies (2) of 18691

AMZN downgrade ... lets short this puppy to the low 80's (or lower). RESEARCH ALERT- Amazon.com <AMZN.N> cut to neutral MINNEAPOLIS, June 26 (Reuters) - Dain Rauscher Wessels said Friday it lowered its rating on Amazon.com Inc. to neutral from buy, citing valuation. "Amazon is perhaps the most powerful growth story in retailing today," Dain Rauscher Wessels analyst Mitch Bartlett said in a research note. "However, at today's share price, even after factoring in the powerful attributes of the business model, the yearly sales growth necessary to achieve an investment return over a three- to five-year period would be, we believe, unachievable. "We are also a big proponent of the future growth of e-commerce," he added. "However, given the run up in the share price, we are lowering our rating to neutral-aggressive from buy-aggressive." The stock was off 1-15/16 at 97-1/8.

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