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Stockchase Opinions

David BurrowsBear SternsBSCTOP PICKApr 01, 2003

Has been strong and beating estimates. Should do well on any market improvement.
$67.34

Stock price when the opinion was issued

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TRADE
Worth more money. At this level there’s a lot of speculation. J.P Morgan wins with any outcome
TRADE
Thankfully we don’t own.
DON'T BUY
They are going to be bought by JP Morgan. (JPM-N) Look instead at JP Morgan.
DON'T BUY
Big player in packaged mortgage industry. They’ve been pummelled. No interested in buying. No idea how deep the rot goes. There’s more bad stuff to come.
BUY
Investment banking is back. Very high-margin business. Very attractive valuation. Likes Morgan Stanley, Goldman Sachs, Bear Sterns and Lehman Bros.