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Teri G

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Alias Born 07/22/2002

Teri G

Re: None

Thursday, 09/26/2002 9:11:02 AM

Thursday, September 26, 2002 9:11:02 AM

Post# of 704019
08:22 ET JPM JP Morgan Chase estimates cut at Lehman (18.89)

Lehman believes that their initial est cut following JPM's pre-release was not drastic enough, and cuts Q3 est to $0.09 from $0.38, 2002 to $1.69, and 2003 to $2.65 (Q3 and 2002 are slightly below consensus); reasons include even lower trading results than initially expected, a higher than expected loan loss provision, and an absence of heavy investment securities gains; cuts price target to $20 from $23.


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