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Strategies & Market Trends : P&S and STO Death Blow's

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To: DebtBomb who wrote (14544)	11/11/2002 9:23:34 AM
From: bruceleroy1_-	Read Replies (1) of 30712

QLGC - 09:18 ET QLGC QLogic cut to Neutral from Outperform at Baird -- valuation (40.65) -- Update -- Robert W. Baird believes that at 33x earnings stock is fully valued. Firm maintains its price target of $38. 09:04 ET QLGC QLogic started with a Sell at Lazard Freres; target $26 (40.65) Lazard Freres initiates coverage with a SELL rating. While the HBA market is a strong biz for QLGC, Lazard says the controller and management businesses are growing at a relatively slow pace and face real competitive threats; firm calls the switch business (old Ancor acquisition) is a failure. Based on a sum-of-the-parts analysis, firm arrives at a price target of $26.

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