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Technology Stocks : Cognitronics (AMEX: CGN)
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To: Carl Yee who wrote (72)10/7/1997 6:58:00 PM
From: Neil Kalton   of 142
 
Carl,

I don't know about fair value but as for a target price in the near term (3 months or less) I'm looking for $25-27. This quarter's comparisons should be easy as I believe CGN only earned $.03 in the 3rd quarter of 1996. While I don't think CGN will earn $.42 again, the trailing 12 month earnings should rise from $.73 to somewhere in the low to mid $.90's after the earnings (these are all semi-educated guesses).

I'm kind of cursing myself over here as I now only hold a fraction of the shares I originally bought. I sold off the majority of my shares in the $14-16 range and since my average purchase price was $5 that, at the time, represented a tidy profit. But now CGN's at $21 ... oh well, I guess hindsight IS 20/20.

Does anybody have any thoughts on the real near-term, i.e., after a strong few days will this one correct a little bit before beginning the next leg up?

Thanks,
-nk
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