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Technology Stocks : ORFR-ORBIT/FR

ORFR 3.500

0.0%

Apr 10 5:00 PM EST

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To: DRL who wrote (181)	12/5/1997 6:41:00 PM
From: dzzhang	Read Replies (1) of 475

From Bloomberg: ORFR target price $35 Orbit/FR Inc. (ORFR) shares rose 3 3/4 to 17 3/8 after the provider of wireless technology was raised to ''strong buy'' from ''buy'' by analyst Craig Sultan at Unterberg Harris LP, with as 12-month target price of 35. In the wake of today's upgrade, people start finding the intrinsic value of this stock. It's real PE is 22 for FY97, and 16 for FY98, a extremely undervalued stock comparing to its 35% growth rate. The selling in the past month is largely due to: 1. Overall market condition and a misleading PE=70 from Yahoo, etc. 2. Lack of news from the company. 3. Unterberg's downgrade when ORFR reaches its original target $27 (Now the target increased to $35). 4. Year end tax selling. 5. Misinformed little guy's panic selling. 6. Misreading of last Q's earning report. With today's visiable report/upgrade, (CNBC mentioned the stock as well) this stock should go back where it should be ($27~$30) in few weeks. For those who wants to know the detail of this company, one should revisit the MF's write up. fool.yahoo.com

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