Jubak update, BRCM $290 June 2000 target
Updates on Jubak's Picks Stocks
You and I are venture capitalists for the Internet
In the update to my last column, I wrote that I was hesitant to raise my price targets for SDL (SDLI), BroadVision (BVSN) or Broadcom (BRCM) until I saw whether the new highs set by these stocks during the low-volume trading days just after Christmas held up when investors return in full force in January. As we all know by now, they haven't.
Stocks that had big December run-ups have been pounded in early January. Nothing fundamental has gone wrong with any of these stocks. In some cases, in fact, even while the market was giving the stocks a 25% scalping, the company was reporting good news. BroadVision, for example, announced on Jan. 5 that Wal-Mart Stores (WMT) was using its One-To-One personalization software in Wal-Mart's recently re-launched Internet store. It's by far the most complicated and largest implementation that BroadVision has completed to date.
So with fundamentals intact or improving and prices down, I'm revising my target prices for these stocks. My new June 2000 target price for BroadVision is $218, up from my earlier target of $145 for February. My new target price for SDL is $248 by June 2000, up from my earlier target of $205 for January. And my target price on Broadcom goes to $290 by June 2000 from my earlier target of $281 by December 2000. (Full disclosure: I recently bought my initial personal position in BroadVision. I own shares in Broadcom and SDL.) |
