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Technology Stocks : Ciena (CIEN)
CIEN 178.26+1.0%Nov 21 4:00 PM EST
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To: Mama Bear who wrote (486)7/4/1997 12:06:00 AM
From: Tim Bagwell   of 12623
 
Barbara you make a good point and I would agree that it's naive to think that the spread is a simple indication of market demand.

But don't sell this company short (no pun intended). This is a very savy company that can be a very effective competitor well into next year and beyond. Your target of 30 is, in my view, way too low. A PE around 40 is well deserved relatively speaking.

If CIEN holds even for the rest of the year it's worth $36. I expect it can grow 20% to 30% per quarter for the rest of the year making a price in the mid to high 40's a reasonable trading range.

I don't know what everyone is squaking about. CIEN is trading right where it should be.

Regards,

Tim
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