I'd like to see the "sum-of-the-parts" net worth valuation referred to by BEST, since the BEST earnings estimate for FY2000 is $5.05 in this "re-initiation of coverage"
Well, um, let's see, earnings for FY2000 exceed that RIGHT NOW.
This target is indeed lower than the 50, but you really can't blame Mr. Barry for being conservative. Since there is only one other analyst, there is little safety that "every other analyst was wrong too" if you are wrong. Stock hits the target, you just say "see...I'm smart" and revise up. Investors decide they hate tech stocks, tank the NAZ to 2900, LDP suffers, well, you keep your job.
BEST around this time last year also rated LDP an "Attractive" with a split-adjusted
YEAR-END **2000** PRICE TARGET OF $8.25,
which they later raised on November 30, 1999 to $11.25, then later to $25, then to $50.
Gee, have I been here before? |
