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Technology Stocks : Sonicwall Inc. - SNWL

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To: caly who wrote (59)4/5/2002 10:41:27 AM
From: Asymmetric   of 63
 
Broker Reactions to SNWL

SonicWALL (SNWL / Nasdaq)
Deutsche Banc Alex Brown
Downgrading from Buy to Market Perform, with an $8 price target. Also cutting EPS estimates to $0.14 in fiscal 2002 and $0.22 for next year, to reflect the company's new guidance.

SonicWALL (SNWL / Nasdaq)
Lehman Bros
Cutting estimates and price target to $12 per share, after the company's warning. Maintain Buy rating, as the stock is trading for only 2 times cash.

SonicWALL (SNWL / Nasdaq)
Bear Stearns
We downgraded SNWL to an Attractive from a Buy due to the disappointing Q1 estimates and limited visibility for '02. SNWL announced yesterday that its revenues and EPS for Q1 fell short of our estimates. The co. expects to report sales of $28 to $29 million and EPS of $0.02 to $0.03. We had forecast $35 million and $0.09. Management indicated overall average pricing for the co.'s mid-tier line "PRO" line came down as customers traded down from the Pro 300 to the lower priced Pro 200 and SNWL issued more rebates on all products.

PS - just sold SNWL at 7.85 for $1 profits.
Didn't want to hold it over the weekend.

Good luck. Peter
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