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Harrah's Stock Rises14 May 2002LOS ANGELES, California – As reported by Reuters: "Shares of Harrah's Entertainment Inc. (NYSE:HET) rose almost 6 percent on Monday after a J.P. Morgan Securities analyst reiterated his "buy" rating on the stock, sparking a broader rally among major casino company shares. "Harrah's shares were up $2.57 to $47.60 in mid-afternoon trading on the New York Stock Exchange, after J.P. Morgan analyst Harry Curtis issued his bullish research note on the stock following an 11 percent slide in the company's shares last week. "…`After meeting with management late last week, we are convinced that Harrah's results are accelerating; that (second-quarter) results should once again be a positive surprise,' "Curtis added his belief that Harrah's shares are now trading at `an absurdly low' multiple given its strong same-store revenue growth in the current `challenging environment.'…" |