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Industry: Email Alert RSS FeedAOL downgraded
Cable World, Feb 25, 2002
Shares of AOL Time Warner tumbled following another investment downgrade, this time by Lehman Bros. Analyst Holly Becker cut her growth targets for the media giant and dropped it to market perform from buy, noting that AOL's America Online unit is expanding more slowly than previously expected. Others on Wall Street have been voicing concern over the slower rate of growth since last fall.
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AOL closed Wednesday at $24.20, down $1.32, or about 5%, after hitting a low for the day of $22.88.
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