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Strategies & Market Trends : Poorman's - CANSLIM Potential Stocks
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To: Bananawind who wrote (26)1/22/2000 4:50:00 PM
From: Bruce A. Brotnov  Read Replies (1) of 128
 
Kevin, almost of the brokers posted spectacular earnings and the PE average for their sector is only 22. For the coming year NITE has estimate of 1.64 and 1.64 x 22 = 36.08 and hence the target of $36. If I used the Poormans across the board PE estimate of 28 for all sectors then it would be 46. This is a conservative estimate of 36 but after doing some research there doesn't seem to be much enthusiasm for NITE right now. Now if you factor in the .17 they beat the estimate by then you might come up with 1.64 + .17) x 22 = 39.8 for an adjusted target.

Now that doesn't preclude them from rising above the pack but with AGE having PE of 13 are they really that much better than the others as NITE has a current PE of 23. I thought initially they were a bargain at $37, but then I under estimated the sell off.

Right now NITE needs to consolidate and break the down trend as it has been a roaring stock in the past and who knows when momentum players may once again grab nite and send it off to lofty heights above normal evaluations. In that case the target of 36-40 area might not have much meaning. For now I am just as happy in other things, but my mind could change if the chart picture improves.

Bruce
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