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Strategies & Market Trends : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Larry S. who wrote (39234)	4/25/2002 8:21:46 AM
From: E.J. Neitz Jr	Read Replies (1) \| Respond to of 53068

Broker comments...for what its worth...SFA etc: 7:39AM Scientific-Atlanta downgraded at Merrill Lynch (SFA) 23.05: Merrill Lynch downgrades to Near-Term REDUCE/SELL from Neutral, saying that the co will hardly grow in the next 2-3 years and should post a fair P/E multiple of 15-17x; firm also believes that once old contracts are up for renewal (in a qtr or two) one should expect a decline. Cuts FY02 est to $1.02 from $1.04 and FY03 to $1.03 from $1.29. Estimates fair value at $15-$17. 7:33AM AT&T downgraded at CIBC (T) 13.75: CIBC downgrades to HOLD from Strong Buy due to the following factors: 1) valuation gap with WCOM has narrowed, making relative valuation less attractive than it was; 2) RBOCs such as BLS, SBC, and VZ are inexpensive and have superior risk/rewards; 3) other long-distance co's such as FON and Q trade at discounts to asset values; 4) secular risks accelerating; and 5) no visibility on EBIT and EBITDA. Firm's valuation of T falls to $16 from $20. :08AM Qualcomm downgraded at UBS (QCOM) 33.29: UBS Warburg downgrades to HOLD from Buy based on the belief that the risk associated with the anticipated 1x ramp in 2H02 has increased; also, believes QCOM's pro forma EPS guidance of $0.90-$0.95 could prove aggressive. Lowers FY02 est to $0.87 from $0.93 and FY03 to $1.11 from $1.18; lowers price target to $38 from $56. 6:54AM AOL Time Warner downgraded by Prudential (AOL) 19.30: -- Update -- Prudential downgrades to HOLD from Buy with a $24 target; says Q1 results reflected more weakness in AOL and cable than expected, believes improved results at AOL division could take a few quarters to materialize. 7:49AM Alcatel sees continued weakness in telecom (ALA) 12.66: In its Mar qtr earnings report out last night, CEO says that ALA hasn't seen "any meaningful signs of a rebound" and notes that Europe has actually seen a slowing of activity and there has been no improvement in the Americas. 8:10AM Novellus added to Focus One list at Merrill (NVLS) 48.40: 8:17AM Vodafone PLC upgraded at Solly (VOD) 15.50: Salomon Smith Barney upgrades to BUY from Outperform with a price target of $23. 8:13AM Macromedia upgraded at Thomas Weisel (MACR) 17.51: Thomas Weisel upgrades to ATTRACTIVE from Mkt Perform due to a solid Q4 and the belief that the new product cycle looks promising. 8:13AM Union Pacific beats by three cents (UNP) 54.75: Reports Q1 (Mar) earnings of $0.86 per share, $0.03 better than the Multex consensus of $0.83; revenues rose 0.8% year/year to $2.97 bln vs the $2.98 bln consensus. Like I said..for what its worth