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Technology Stocks : Orckit (ORCT)
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To: shlomi cohen who wrote (1857)7/16/1999 9:51:00 AM
From: David Rubin  Read Replies (1) of 1998
 
Merrill coverage is good news, but why the low target of $38? This doesn't make sense to me. They had very bullish comments on the company but their 12-month price target is only 18% above yesterday's close. Then they say that ORCT has 1/3 the valuation of its peers.

So I guess this means Merrill thinks the rest of the sector is overvalued.

It's great to see analyst coverage starting, but $38 is ridiculous. Maybe they're just trying to keep the price down for awhile so their clients can get in, then they will raise their price target in a month or so...
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