Merrill Slashes AOL Estimates

Analyst Jessica Reif Cohen says there may be limited downside, but it will be hard for AOL to get more aggressive near term

Merrill Lynch cut its estimates for AOL Time Warner (AOL ) after the media giant said it sees about 18% 2001 EBITDA growth and 8%-12% EBITDA growth on revenues increase of 5% or higher. The company says it will take a $40B to $60B first quarter charge.

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