WDC/Sandisk Corporation Message Board

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Technology Stocks : WDC/Sandisk Corporation

WDC 170.37

+0.3%

2:59 PM EST

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To: Ausdauer who wrote (7658)	10/14/1999 3:10:00 PM
From: Bob Kim	of 60323

FWIW, ML lowered EPS estimates but reiterated its 2-1 rating. The analyst appears confused because he lowered his price target to $58 in one place but refers to it as $65 (same as the previous one) later on. He appears to have used the combination of the $58 target and intraday $48 1/2 report price to avoid having to upgrade the near-term rating to Buy since ML's upside threshold for a Buy rating is just 20%. If the analyst had used yesterday's closing price, the price target would probably have been made even lower and if he had used a higher intraday stock price the target would probably have been higher.

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