PRI Automation up 30% Message Board

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Technology Stocks : PRI Automation up 30%

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To: Q. who wrote (98)	11/8/1996 7:56:00 PM
From: Scott Maxwell	of 193

I would normally agree with you (that the estimate cuts are not very meaningful), but the conventional wisdom (which, alas, is often correct) tells us cuts are a sign of more cuts to come. So while a next year PE of 15 on 40% growth sounds very cheap, the momentum types assume the analysts are going to find piece after piece of negative information, pushouts, etc., and have built into their models an extrapolation of future estimate cuts. So I suspect we're in for rough trading and a decline after every piece of less-than-perfect news. Meanwhile, someone pronounced BRKS a model of perfect growth and it's worth 40% more than it was 10 days ago. Huh?

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