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Biotech / Medical : PFE (Pfizer) How high will it go?
PFE 25.07-0.1%Nov 17 3:59 PM EST

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To: BigKNY3 who wrote (7081)2/23/1999 9:58:00 PM
From: BigKNY3  Read Replies (3) of 9523
 
PaineWebber's Farrell Likes Growth Stks In Uncertain Mkt

NEW YORK (Dow Jones)--Because she views the current market as uncertain, PaineWebber Inc.'s chief strategist Mary Farrell favors high-quality growth stocks to diamond-in-the-rough small-capitalization stocks.

In a CNBC interview Tuesday, Farrell said equities still offer the best long-term investment, but she nonetheless foresees "a little backtracking" in the broader stock market as interest rates move higher.

Farrell likes big-name technology companies. "Growth is going to be a tough commodity to come by (in 1999) and the technologies are delivering," she said. "That's why investors want to own them."

Specifically, she mentioned International Business Machines Corp. (IBM), Microsoft Corp. (MSFT) Compaq Computer Corp. (CPQ) and Sun Microsystems Inc. (SUNW).

She also recommended drug companies Pfizer Inc. (PFE), Warner-Lambert Co. (WLA) and Schering-Plough Corp. (SGP) and retailers Bed Bath & Beyond (BBBY) and Gap Inc. (GPS).

Farrell said she would avoid the stocks of heavy-industry companies, including steel and aluminum makers.

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