Ampex Corp: Digital Storage Message Board

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Technology Stocks : Ampex Corp: Digital Storage

AMPX 10.82

+0.8%

Nov 26 3:59 PM EST

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To: jonggua who wrote (2311)	3/16/1997 11:01:00 PM
From: Rick Kunz	of 3256

Just read the latest issue of Red Chip today, and they have an updated full report on Ampex. Analyst is "Turbo" (Trbovich), gives it a "B" rating, with a long-term target of $15. Report date is 2-25-97. Excerpt: "Investment conclusion: TAKE ADVANTAGE OF PRICE WEAKNESS." AXC's stock continued its volatile ride as momentum investors drove the stock up on rumors of a keepering deal, only to drive it back down as they sold the stock following the announcement of the keepering agreement with Maxtor. Using a 25x to 30x multiple and our 1998 EPS estimate of $0.65 we believe AXC could easily justify a $15 to $20 stock price two years out. Although we believe AXC could announce additional keepering agreements in 1997, keepering IS NOT LIKELY TO HAVE A SIGNIFICANT IMPACT ON REVENUES AND EARNINGS UNTIL 1998 AND BEYOND. (emphasis mine. rk) In our view the market has eliminated much of the speculative value previously factored into the price of the stock, making it an attractive entry point for long-term, risk tolerant investors.

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