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Technology Stocks : SEITEL (SEI)
SEI 45.12-0.6%11:48 AM EST
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To: Adam McDowell who wrote (2)2/9/1996 1:31:00 AM
From: james crooks   of 427
 
I believe the bad news has already been discounted and the stock
will most likely trade within a certain range. It fell as low
as 24 and 1/8 on the bad news and then rebounded to 27 within 5
days. The stock has declined the last 4 days to 25 and 3/8.
It will likely test the support at 24 and 1/8.

My broker was urging a buy on the stock; he felt the stock had
been punished unfairly for shifting of revenues to the next qrtr.

Zack's mean estimate (2/4/96) for 1996 is 1.73 with projected
5 year growth of 20 %. Seitel's CEO says "In looking ahead,"
he added "we expect to achieve better than 20 percent annual
growth in both earnings and revenue.

I'm also looking into this stock as a potential buy with a strategy
to pick it up at cheaper than current levels. However I couldn't
disparage someone for buying the stock at current levels who has
a long term perspective.
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