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Technology Stocks : Echelon Corporation (ELON) -- Ignore unavailable to you. Want to Upgrade?

To: Ted The Technician who wrote (2905)	12/3/2001 3:21:14 PM
From: cavan	Respond to of 3076

Echelon (ELON) fell 9 percent after Prudential Securities lowered its rating on shares of the San Jose, Calif., appliance connection technology firm to "sell" from "hold" due to valuation and flagging earnings visibility. "At 36 times 2002 earnings per share, we believe ELON shares are expensive without (a) clear path for accelerated EPS growth for 2003," the firm said in a research note to clients. "Our cautious economic outlook (is) not currently reflected in management's present guidance; potential for further EPS revisions remain distinct possibility without 2002 economy rebound." Prudential also cautioned that, due to implementation issues, "time is running out" to avoid a gap between its Enel program and the next major product ramp.