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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: dwight vickers who wrote (5349)11/27/1996 2:16:00 PM
From: Martin L. Robbins   of 42771
 
Dwight, <<By the way, you're not down in the West Texas town of El Paso, are you? (couldn't
resist)>>

My standard answer to that one is "Hey, someone's got to invest Dad's millions" :-) (NOT!)

Back to the subject: I concur. At 20% growth per quarter in earnings for next year, we would be at $1.10 (which, by the way, is only 10% above at least one estimate for 97). Although it is not impossible, it does appear that such growth would be unsustainable -- AND more importantly, not necessary to sustain a modest PE of 22 ($.90, 97 earnings) which would give us a price of about $20.

I think the key factor is the downside risk now is small compared to the upside potential over the next 12 months.

Marty
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