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Technology Stocks : Avid Technology

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To: JakeStraw who wrote (775)4/12/2006 1:13:47 PM
From: Area51   of 777
 
I bought a couple of long dated calls off the earnings miss. FWIV JPM maintained AVID at overweight with a January 2007 price target of $58 based on an assigned multiple of approx 20-21 times FY07 Pro-forma EPS of $2.81, which assumes a 33% tax rate.

If it takes out the 52 week low (35.78) on a closing basis I'll consider adding an equal number of puts.
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