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Technology Stocks : CCSC - Coherent Communications
CCSC 5.170+0.4%Apr 20 5:00 PM EST
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To: Tuan Phan who wrote (265)9/15/1997 10:29:00 PM
From: Ken   of 381
 
Well. It did break through...for a few minutes, but came right back to around 24 3/4 for most of the day.

26 will probably be a very stubborn top unless the company has some great news to announce. But their estimate for this quarter is .23, which represents ~40% increase over last year.

Depending on the overall mood of the market, this stock should push to between 27 (given current P/E) and 32. I would guess a short pop to 31-32 prior to earnings and/or after the announcement and settling back to 27 1/2-29 until next quarter's earnings.

Of course, I could be completely wrong.

(FYI: Current trailing earnings .74, Current
quarter estimated to be .23 vs .16 prior year.
4th qtr 97 estimated to be .26 for 1997 total
of .89)

My major concern at this point is the likes of Lucent Technology. Can Coherent compete with the 800lb gorilla?
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