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Technology Stocks : Comverse Technology
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To: ram yariv who wrote (319)11/25/1997 1:23:00 PM
From: JEFF CHAPMAN  Read Replies (1) of 1331
 
This truly is ridiculous. I have never seen a stock with 6 strong buys not get a SINGLE downgrade during a nearly 40% correction from its highs with absolutely no downward revision in earnings and even at its highs trading around normal if not below market multiples. CMVT's current forward PE is more appropriate for a company in a turnaround situation or a company that is only growing revenues at 10-15% a year. CMVT should earn at least $2 next year... that puts us at less than 16X earnings... This isn't an RBOC, yet is acting like one in valuation terms (of course the RBOC's have been popping up lately, so we're even worse off than that!).
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