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Technology Stocks : Westell WSTL

WSTL 5.920

-3.0%

11:57 AM EST

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To: kenneth kountz who wrote (15509)	3/25/1999 8:32:00 PM
From: Mad Bomber	Read Replies (4) of 21342

[FYI from Joel C. at PCM] Ask the Analysts Thursday, March 25th by Market Analysis Staff Preferred Capital Markets, Inc. ----------------------------------------------------------------------- Question 1: Do you still stand by your "BUY" on WSTL? They have consistently lost shareholder value since '96. Why are they so secretive about contracts considering their obvious need for new financing? What are the chances of Penny & Simon letting the company bleed and then taking it private? Answer 1 (3/25/99): Yes...for long-term accounts! The value of the enterprise is at least $10-12 when you look at the business as a whole. Management is focused on managing the business on a more balanced basis. It is possible that management would drive the stock down and then take the Company private, but Penney is too committed to his employees--I believe--to take that approach. I've always maintained that WSTL is worth at least $12 a share and I continue to stand by my analysis. Joel Achramowicz Senior Market Analyst MB

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