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Post# of 704041
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Rick Faurot

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Rick Faurot

Re: jdaasoc post# 101409

Friday, 04/25/2003 9:39:40 AM

Friday, April 25, 2003 9:39:40 AM

Post# of 704041
07:24 ET Emulex cut to Underperform at Thomas Weisel (ELX) 24.38: The downgrade from Peer Perform is based on the expectation of slowing revenue growth. Firm's thesis that exhaustion of HBA market share gains will lead to moderating growth is beginning to playout, as evidenced by Emulex's results and guidance. Firm's DCF analysis values ELX at $17 per share.
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