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To: bob zagorin who wrote (17859)	8/19/2003 1:19:03 PM
From: Bill Harmond	Read Replies (1) \| Respond to of 57684

8:06AM Ascential upped to Buy at Fulcrum (ASCL) 15.60: Fulcrum upgrading to Buy from Neutral. ASCL recently announced the availability of its new-generation product platform Data Integration 7.0. According to the firm the upgrade cycle should provide an upsell opportunity for the company. Also, field checks indicate that beta customers are very satisfied with ASCL's new platform product offerings. The firm is raising F'04 revenue estimates by $11 mln to $181 mln and EPS by $0.01 to $0.34. ASCL currently trades at 1.5x EV/'04 sales estimate of $181 mln compared to its peer group, which trades 2.6x '04E consensus EV/Sales. Price tgt $19.