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Stock Market Update - Thu Nov 15 09:35:48 EST 2007

Thu Nov 15, 2007 9:35am EST
Punk, Ziegel & Co upgrades Sell to Mkt Perform. Punk Ziegel upgraded LEH to Market Perform from Sell and raised their tgt to $70 from $59 noting mgmt spole in N.Y Wednesday and the most important fact that was not mentioned is how much the co expected to mark down its securities portfolio. Unlike numbers of its competitors, Lehman suggested that there will not be a meaningful mark down. In fact, the co suggested that it was short many of the offending securities. The firm says this would mean that Lehman could make money where others are losing. The firm also notes Lehman also indicated that it had no involvement with structured investment vehicles.


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