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Technology Stocks : OnSale Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (2140)	12/1/1998 5:57:00 PM
From: D.J.Smyth	Read Replies (1) \| Respond to of 4903

Chandler, Needham analyst, on July 16 issued the following: Onsale Inc. (ONSL) 24 3/8 +2 7/16: Needham & Co. initiates coverage of online retailer with "strong buy" and a six-12 month price target of $82 a share; expects retail electronic-commerce market to grow to $24.2 billion by 2002 from $2.6 bln in 1997. So, here we sit at $54, about $30 below his target. The downgrade was actually issued by Chandler when ONSL was trading above $80 but did not hit the news until today. Chandler hasn't changed his price target. He may have changed his shorts since the fall from $90, but not his price target. The ONLY strong buy recommendation Chandler had on a net stock WAS ONSL. His downgrade to "buy" was in line with other nets meeting his other price targets. However, ONSL is now nearly 40% below his target due, in part, to margin covering and ONSL taking out nearly every limit on the way down. Thanks to Joe Kernan on Monday. It should also be noted that Chandler's "24.2" billion is now considered too conservative for 99.