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Technology Stocks : KEMET Corp.
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To: The Ox who wrote (772)10/24/2000 2:04:17 PM
From: Bob Kim  Read Replies (1) of 906
 
ML used to have an explicit 12 month price target of $62-63. Now it's mentioned indirectly as 12-18 months and 15x F01E. If you do the math it's $63.

A couple of things may be in play. One, the analyst may believe it is now pointless to further raise the price target in line with estimate increases as he has mostly done in the past; or two, he may be implementing ML's recent research directive to re-examine price targets, earnings estimates, and ratings, and make them reflect reality.
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