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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Mark Konrad who wrote (48483)	3/6/2001 11:17:19 AM
From: KevinThompson	Read Replies (1) \| Respond to of 57584

Earlier this morning Lehman initiates coverage of STOR. 07:12 ET StorageNetworks (STOR) 13 3/8: Lehman initiates coverage with a BUY rating and $28 price target. Feels that STOR's first mover advantage in the storage service provider (SSP) market and strategic relationships should reduce customer acquisition costs. Feels that company's revenue visibility is relatively high. Then, the rest of the story -- 10:43 ET StorageNetworks (STOR) 13 3/4 +3/8 (+2.8%): -- Update -- Storage name appears to be fighting an uphill battle against a heavy overhang of stock. After gapping up this morning to $14 1/2 on a Lehman intial BUY rating, and quickly lifting to an intraday high of $15 1/8, the stock came under heavy selling pressure. Issue tumbled to $13 1/4 before stabilizing. *STOR is coming off a lock-up expiration that unleashed approx. 76 mln shares.* --------------------------------- Hmmm. Makes one think, doesn't it? KT