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Technology Stocks : 3Com Corporation (COMS) -- Ignore unavailable to you. Want to Upgrade?

To: Brad Rogers who wrote (11317)	12/3/1997 9:06:00 AM
From: Chris Anderson	Respond to of 45548

COMS Upgraded! I about filled my pants when I saw this. Analysts reactions seem positive so far. COMS likely to drop some, but hopefully for longs not as far as some may have thought! Good Luck! ......................... Chris RESEARCH ALERT - 3Com upgraded NEW YORK, Dec 3 (Reuters) - BancAmerica Robertson Stephens said on Wednesday it raised its rating on shares of 3Com Corp to buy from hold but lowered its fiscal 1998 and 1999 earnings estimates on the stock. -- Analyst Paul Johnson said he lowered his fiscal 1998 estimate to $1.12 per share from $2.02 per share and his fiscal 1999 estimate to $2.24 per share from $2.66 a share. -- But he raised his rating because he believes worst is now over for the networking company. -- ''We were waiting for this news,'' he said. ''They were clearly struggling with inventory in the channel. Now that they've taken proactive steps regarding inventory, we believe the worst is behind them.'' -- 3Com said late on Tuesday its second quarter financial results would be far less than what Wall Street expected as it moves to slash inventories of unsold networking products sitting with its distributors. -- Company also said weakening Asian economies and weak modem sales could hamper results for several more quarters.