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DJ JP Morgan Cuts Maxtor To Underweight From Neutral >MXO
NEW YORK (Dow Jones)--J.P. Morgan cut hard disk-drive manufacturer Maxtor Corp. (MXO) to underweight from neutral, saying the next stage of the company's turnaround story may take longer and be more challenging than the initial one.
The broker told clients that the critical milepost for Maxtor is the full revamp of the company's desktop drive cost structure.
"Here, we believe that the proof lies in the mid-part of 2006, which places Maxtor in a tough position over the interim," J.P. Morgan said.
(END) Dow Jones Newswires
10-13-05 0657ET
Copyright (c) 2005 Dow Jones & Company, Inc.
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