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Technology Stocks : METROMEDIA FIBER NETWORK (MFNX) -- Ignore unavailable to you. Want to Upgrade?

To: Beltropolis Boy who wrote (461)	8/3/1999 2:50:00 PM
From: MangoBoy	Read Replies (3) \| Respond to of 1983

[Salomon's Jack Grubman Reiterates "Buy" On Metromedia Fiber (MFNX)] (NewsTraders.com)-- Salomon Smith Barney's influential telecom analyst Jack Grubman today reiterated his "buy" rating on Metromedia Fiber Network Inc. (MFNX), according to a source at the firm. Grubman said the stock has come under pressure of late as a result of unconfirmed reports that the company will miss analysts' second-quarter estimates when it releases financials next week. The analyst believes such reports are permeating Wall Street via arbitrageurs who have an interest in seeing the stock decline. Grubman, who expects Metromedia to post second quarter revenues above his estimate of $14.9 million, also sees the company's pending acquisition of Abovenet Communications (ABOV) going through as planned. Grubman's $60 target is significantly above the stock's recent trading price of $28.69.