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Technology Stocks : Ascend Communications (ASND)

ASND 212.33

+1.1%

Nov 28 9:30 AM EST

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To: Johnathan C. Doe who wrote (23235)	11/13/1997 1:26:00 PM
From: Larry J.	Read Replies (2) of 61433

<<As the outlook assumptions get revised, I think you will see Ascend at a price of $12 with a P/E of 20.>>> The price revisions for '98 have already occured. Most analysts have cut from $1.70 - $1.80 range to $1.20 ish. Ashby's already stated that they will hit estimates of $1.15 - $1.20. ASND @ $12 is a PE of 10!!!! You are suggesting earnings of .60 per share next year. You have to admit, this is somewhat absurd when ASND has also stated 5-10% sequential quarterly revenue growth for the next two quarters and 10% growth the back half of the year. It's far more likey that ASND will earn $1.50 in '98 with new contracts from MCI / UUNET, NTT, AT&T, Earthlink etc. etc. Larry

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