Merrill Lynch Cuts National Golf To Neutral

Analyst Steve Sakwa says near-term fundamentals continue to slide

National Golf (TEE ) shares fell after it reported second quarter funds from operations per share of $0.78, vs. $0.64 from a year ago. The company sees FFO of $3.31-$3.36 in 2001 and $3.61-$3.66 in 2002.

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