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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: Naggrachi who wrote (185)	12/6/1997 4:37:00 PM
From: Boris Maleshev	Read Replies (1) of 475

Could someone please post the actual news release regarding the upgrade? ORBIT/FR (ORFR) 16 7/8 +3 1/4. C.E. Unterberg apparently has the ability to make or break this stock. The firm's September 5 downgrade of the shares began ORFR's precipitous decline from $29. The rationale at the time: ORFR shares were overpriced at 28x forward earnings, based on the company's inability hire enough qualified sales people and a shift in product mix to which the analyst did not expect customers to be receptive. But now that the momentum players have done their selling and profits have been taken, C.E. Unterberg analyst Craig Sultan is once again comfortable recommending ORFR shares. This morning, the analyst reversed his September move by raising his investment rating on the issue to a "strong buy" from a "buy." According to Mr. Sultan, the developer of automated microwave test and measurement systems is poised to benefit from strong growth in the cellular, satellite and core defense aerospace markets. Moreover, the analyst believes that customers have been much more receptive to the company's shift to higher margin products than he originally anticipated. With all checks indicating that business is strong and that prospects are improving, the C.E. Unterberg analyst is again giving the thumbs up. Fundamentals Earnings Estimates: 1997= $0.74 (P/E 22.8); 1998= $1.03 (P/E 16.38) Long-Term Growth Forecast: 34% Price-To-Sales Ratio (Trailing 12-months): 5.5 Chart This is from briefing.com - you see, the analyst admitted his mistake and should be forgiven - that would be very America

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