Stability Problem in the {ital O}({ital N}) Nonlinear Sigma Model

The stability problem for the O(N) nonlinear sigma model in 2+{epsilon} dimensions is considered. We present results for the 1/N{sup 2} order calculations of the critical exponents (in 2{lt}d{lt}4 dimensions) of the composite operators relevant for this problem. Arguments in favor of the scenario with the conventional fixed point are given. {copyright} {ital 1997} {ital The American Physical Society}