VISX Message Board - Msg: 2283888

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Biotech / Medical : VISX

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To: ren moore who wrote (316)	9/26/1997 12:06:00 AM
From: John Binford, Jr.	of 1754

I don't think the price targets have dropped much if any. The slowdown in machine sales the 1rst and 2nd quarters will result in earnings for the year that are less than these reports predicted. It appears machine sales for the 3rd quarter have picked up over the 1rst and 2nd quarters. Procedure growth is also on-track or ahead of schedule and procedures will be the main source of income for Visx and Summit. I wouldn't be surprised if the stock hit these targets before the end of the year. Two years ago when the stock got hot, it hit the 12 month targets within a few weeks. I believe an excellent earnings report combined with expectations of increasing procedures and improving machine sales will rocket the stock upward. Remember there are 1.5 million shares shorted as of September 15th. These guys will help drive the stock up even more quickly during a strong sustained rally. I read a report a few years ago that thought Visx could hit $150/sh by the year 2000 based on 1+ million procedures/year. I don't know if it will get that high but I think it should be able to get to the $60 to $90 range. Summit at its peak reached a market cap of over $1 billion which is equivalent to Visx at a price of $76/sh.

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