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Microcap & Penny Stocks : WaveRider WAVC NASDAQ ISP Wide Area Wireless Internet

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To: Andras who wrote (1288)	12/27/1999 11:01:00 AM
From: Daytek77	Read Replies (1) of 1848

Andras Read the report carefully. The $4.25 target is the official target because they have discounted to the max. If you read between the lines the $18 level is more likely what they expect. They mention that it is difficult to gauge revenues but expect their numbers to be conservative. Here are the important points from the report: "...If we compare Waverider to companies such as PROXIM,PCOM,Wi-Lan,AiroNet,Metricom,and apply only half of the group's median forward P/E multiple to Waverider's FY2001 F/D EPS, we would arrive at an implied value of $18 in one year! ...Alternatively, if we use the discounted free cash flow approach and apply a 35% discount rate to WaveRider's projected free cashflows of U.S($7.1mm), U.S.$24.0MM,and $U.S. $29.1MM in FY2001, FY2002 and FY2003, respectively we arrive at a 1 year target of U.S.$4.25 and therefore rate WaveRider's stock a speculative Buy.

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