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Technology Stocks : Pixar Animation

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To: Linda Kaplan who wrote (2425)	5/17/1999 11:49:00 AM
From: Souze	Read Replies (1) of 3261

NEW YORK, May 17 (Reuters) - SG Cowen Securities Corp. analyst Ed Hatch on Monday lowered his rating on Pixar Animation Studios Inc. to a buy from a strong buy based on a "potentially modest near-term upside gain." --Says Pixar shares have shown rapid appreciation and are near six to 12-month target of $48. --Expects Pixar shares could be volatile and a better "new money" buying opportunity will present itself. --Two-year target for the shares is $56. --Says Pixar's fundamental outlook continues to be excellent. --Says recent movie "A Bug's Life" has exceeded expectations and upcoming "Toy Story 2" has elements of "becoming another major box office and merchandise hit this November." --Pixar shares were down 1-7/8 to 44-9/16 near midday Monday on the Nasdaq. Copyright 1999, Reuters News Service

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