ACTM $100 Million Cable Modem Contract with MOT Message Board

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Technology Stocks : ACTM $100 Million Cable Modem Contract with MOT

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To: Rob Preuss who wrote (276)	10/25/1997 9:58:00 PM
From: jeffbas	Read Replies (1) of 1250

I generally agree with you that a well done research report can be very helpful. However, it makes me wonder when I read the thorough Shroder report of 9/16 making a good case for buying the stock at $33, talk to the CFO the last day of the quarter who says everything is fine, and then this happens. I think the company has credibility, consistency and control problems which will keep the p/e from equalling the growth rate for quite some time. (I think a prior poster's opinion that a p/e of 25 is appropriate is overly optimistic.) I think a p/e of 15-20 is the best we will see for a long time to come. However, this would be consistent with what I believe is A G Edward's rating of speculative buy with a target next year of 30 - which would be perhaps earnings of $1.50 X 20 p/e.

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