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Biotech / Medical : Medtronic (MDT)
MDT 100.92+1.3%3:34 PM EST
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To: Peter who wrote (72)5/23/1997 5:29:00 PM
From: Flan   of 687
 
I agree - People are paying 30X next years numbers for a company whose core business should see increased competition and difficult year over year comparisons - the currency effect should still be a problem. But in a bull market people just don't care about such frivolous things as valuation. Heck if you can buy coke at a 40X p/e why not MDT at 72 - This will all change at some point.
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