Knight/Trimark Group, Inc. Message Board

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Non-Tech : Knight/Trimark Group, Inc.

KCG 20.00

0.0%

Aug 17 5:00 PM EST

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To: Muthusamy SELVARAJU who wrote (2219)	7/11/1999 7:35:00 PM
From: Bob Kim	Read Replies (1) of 10027

I would disagree with you about the decidedly bearish tone of the ML report on NITE. ML still has one of the highest 2Q estimates on the street. I think the report just reminds everyone about the lockups expiring and how new supply could pressure the stock price. Futhermore, given the recent run-up in the stock combined with higher interest rate assumptions, a DCF based valuation is going to look less attractive than a few weeks ago. The analyst does mention that there is upside based on relative valuations. Obviously, if the stock were to run up a lot more, the analyst might have to deal with the question of a downgrade on a valuation basis.

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