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Biotech / Medical : Sterigenics (STER)
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To: cmac who wrote (78)3/9/1999 8:43:00 PM
From: kendall harmon  Read Replies (1) of 88
 
The following post is from "Downonwallstreet" on the Yahoo STER thread:

Paine Webber did downgrade the stock but still maintained an "attractive" rating on the stock with a one-year target of $20 - $22. The most positive development on that front is the fact that the analyst only downgraded earnings by 4 cents per share for this fiscal year.

The stock was down almost 40%, which usually means that analysts expect earnings to be down by more than 10%. In this case, earnings are expected to be down by much less than 10%, and with any luck, might even bounce back next quarter. In any event, today's bashing was a hyper sell-off that went too far and a rebound to the teens is to be expected. Let's remember, the stock was already down quite a bit in anticipation of a poor quarter.
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