Symantec (SYMC) - What does it look like? Message Board

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Technology Stocks : Symantec (SYMC) - What does it look like?

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To: Chris Tackett who wrote (153)	8/15/1996 9:24:00 PM
From: George Burke	of 2069

As I was saying before the meltdown, Bear Stearns has revised earnings estimates for fiscal '97 severely downward--from $.90 to $.70, with projected earnings growth dropping from 12% to 7%. A subsequent poster (whose name I forgot and whose inquiry is now lost) questioned the source of the information as he had apparently spoke with the brokerage before my post (odd coincidence) and they told him there had been no "downgrade." This is matter of semantics (sorry, I couldn't help it). I didn't mean to suggest that the stock had been officially downgraded (as in from "buy" to "hold," for example), only that estimates had been cut by BS. My source is Zacks Investment Research, a company that tracks estimates. Consensus for '97 is still $.86, but I mentioned BS because they are the first revision I'm aware of since the horrible numbers last quarter. I'm betting others will follow. If BS is correct, or even a little low, SYMC will have to trade at 20X earnings (unlikely)to reach $14-15, with a possible downside in the $7-$8 area.

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