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Technology Stocks : Vitesse Semiconductor

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To: Cameron who wrote ()	12/4/1999 1:58:00 PM
From: Dr. Id	of 4710

Prudential raising price target... VTSS: Raising price target to $64 from $50. Recent weakness is a buying opportunity in our opinion. Pull-back in the stock was misguided in our opinion. We believe perceptions that the company may experience weakness in the December quarter are INACCURATE. We believe that Lucent (20% of revenues) is on track for sequential growth in the current quarter and that Gigabit Ethernet/Fibre Channel products are on track for double digit growth. We are raising our 12 month price target to $64 from $50. Because of the company's stature in the communications market, we believe the stock deserves a multiple of 70 versus the 55 previously used. Lucent, Fibre Channel, and Gigabit Ethernet Appear to Be Strong. Our research and conversations with management indicate that all of these businesses are on-track and we are comfortable that the company will meet or slightly exceed our expectations for the December quarter. *We believe this represents a strong investment opportunity in the area of communications.

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