Midway Games - MWY Message Board

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Technology Stocks : Midway Games - MWY

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To: Rob S. who wrote (3)	8/28/1997 11:52:00 AM
From: Rob S.	of 278

Midway Games long-term growth rate is pegged at 30% per year by Robertson Stephenson Co. in estimate revisions; MWY: ROBERTSON STEPH decreased estimate for quarter ending 03/98 from $0.30 to $0.22 on 08/20/97 MWY: ROBERTSON STEPH has reiterated estimate for long term EPS growth of 30.00% per year on 08/14/97 MWY: ROBERTSON STEPH increased estimate for quarter ending 06/98 from $0.26 to $0.40 on 08/20/97 The projections fit what the company has stated about new product introduction and ramp up in sales. Concensus estimates for 1998 ernings are 1.26 placing forward looking P/E at 16. This is a large discount to the PEG of 30. Robertson's target price for Midway is 30 which makes sense - current earnings of 1.06 X 30 (PEG) = 30. I am accumulating this stock on expectations that it will gain interest during the Christmas shopping season when consumer stocks tend to catch up.

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