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Technology Stocks : COMS/USRX

COMS 0.00130

-87.0%

Nov 7 9:30 AM EST

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To: Jeffery E. Forrest who wrote ()	3/24/1997 3:18:00 PM
From: Trippi	of 1384

Over on the Fools board on AOL -- they posted a report they received from the Smith Barney analyst this morning with a target price for COMS of $56 per share. The report dated 03/21/97 is recapped in full over on AOL -- I have only reposted the conclusion below: "CONCLUSION AND INVESTMENT DECISION Smith Barney thinks it is a good sign that, in what has been one of the most painful quarters in 3Com's recent history, the company has still been able to grow revenues at a healthy 30% year-over-year pace. They believe the most difficult days for 3COMS are behind it. They believe volume should continue to increase on the 10/100 adapter board, enabling 3CON to come further down the cost curve. In addition, more and more of the adapter mix should become the 10/100 board, which carries with it a higher ASP. CONS systems business has a strong pipeline. Finally, we do believe the merger will go through. 3COM as a combined entity should benefit strongly from USIUL X2 technology. We are maintaining our fiscal 1997 estimate at $2.05 and continuing to take a conservative stance on the combine entity and assuming it is neutral to fiscal 1998 earnings. Therefore,they maintain FY98 est. of $2.62. On our calendar 97 est. of $2.18 , the stock is trading at approx. 15X. The analyst continues to believe, 3Com should trade at 1 Times its 5 year CAGR of 25%. On this basis she calculated a price target of $56." Hope u find this interesting and useful Trippi

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