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Biotech / Medical : Palomar Medical Technologies, Inc.
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To: Dr. Dennis J. Wydra who wrote (426)4/7/1997 1:24:00 PM
From: Tipster   of 708
 
Dr. Dennis: I cannot answer your question, but Amy Bell, who is the analyst might be able to. Amy Bell is the sole analyst from H.J.Myers, and she is based in New York.....her phone number is 716-256-4744...email is.....abell@hjmyers.com She published a report on March 19, 1997 which you might find interesting. In it she states that we can expect that by year end the company may dispose of its remaining electronics business.
Secondly, she states H.J.Myers has reduced their price target to $20 per share based on changes in earnings estimates. She has reduced PMTI from a Strong Buy to Buy.....due to volatility in the bottom line over the next 6 to 12 months.

This is how she calculates the $20 per share: "The company's laser industry peers are currently trading at an average P/E of 33x fiscal 1997's estimated earnings. Applying a P/E of 30x Palmomar's future estimated earnings, and discounting back to current value, we have established a 12 month price target of $20 per share. Scott
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