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Technology Stocks : America On-Line (AOL)

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To: Albert Martin who wrote (7732)	3/24/1999 11:07:00 AM
From: Roy F	Read Replies (1) of 41369

RESEARCH ALERT - America Online downgraded March 24, 1999 10:42 AM NEW YORK, March 24 (Reuters) - Brown Brothers Harriman said analyst Dawn Simon cut her short-term rating on Internet powerhouse America Online Inc. AOL to neutral from a buy, due primarily to valuation. -- Simon says: "The stock exceeded our price target by about 10 percent and recently hit a 52-week high. I just think investors should take a step back here on a price basis." -- Simon kept her long-term rating on the stock at a buy. -- Says: "I am anticipating a charge and maybe layoffs due to the Netscape merger. I also am not anticipating the deal to be accretive to AOL's earnings until at least their fiscal first or second quarter's of 2000." -- Says: "Also remember that the market in general has been sloppy, and investors have had a nice run, with two stock splits in the last year." -- AOL share price was down four at 117-1/8 on the New York Stock Exchange. ((Daniel Bases, Wall Street Desk 212-859-1718; e-mail: daniel.bases@reuters.com)) REUTERS -------------------------------------------------------------------------------- Following are Reuters Alerts related to this article -------------------------------------------------------------------------------- ALERT BROWN BROTHERS HARRIMAN CUT AMERICA ONLINE TO SHORT-TERM NEUTRAL FROM BUY REUTERS -------------------------------------------------------------------------------- ALERT BROWN BROTHERS HARRIMAN KEEPS AMERICA ONLINE LONG-TERM BUY REUTERS --------------------------------------------------------------------------------

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