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Technology Stocks : Excel Communications -- Ignore unavailable to you. Want to Upgrade?

To: McNabb Brothers who wrote (2431)	12/19/1997 3:30:00 PM
From: Rob S.	Read Replies (2) \| Respond to of 2806

I was wrong - Excel said that they are able to start buying back shares and plan to purchase the majority of shares on the open market. The former Telco owners (Burns, Luken, Sorrento, etc.) are locked up from selling shares until one year from the closing of the acquisition - about 11 months from now. Analysts estimates for next year are a concensus of around $1.52. Excel is now trading at about 12.5X trailing and 10X next year's earnings. Lehman issued a reiteration of their buy rating today.