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Technology Stocks : All About Sun Microsystems
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To: chunmun who wrote (23565)11/29/1999 7:53:00 PM
From: Lynn  Read Replies (2) of 64865
 
Chunmun: The $165 target does not take the split into account. If the brokerage maintains this target price after the split, the target will then be adjusted to $82.50.

When analysts state targets for stocks they make them in terms of the stock price at the time they release their reports. No matter how carefully an analyst would word a recommendation, people would panic should something like, "Our 12-18 month target for SUNW is $95 [e.g. post split]," when it is selling for $130+.

Just think of all the people would would drop in here and say, "I've heard SUNW is only going to be $90 long term. Should I dump my shares now to lock in my gain?"

$165 might be pretty close to where we are now, but I'd much rather have a conservative projection that can be later raised than an overly optimistic one that gets lowered.

Lynn
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