3Com Corporation (COMS) Message Board

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Technology Stocks : 3Com Corporation (COMS)

COMS 0.00160

0.0%

Nov 21 9:30 AM EST

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To: Beachbumm who wrote (12136)	12/11/1997 9:37:00 PM
From: Mang Cheng	Read Replies (1) of 45548

One upgrade, these guys seem to be quite good, last time (couple weeks ago) they downgraded coms and coms went to $28 ! - ON second reading, the date doesn't look right though I received it today. It could be an old news. infobeat.com ************************************************************** 08:27 AM ET 12/03/97 RESEARCH ALERT - 3Com upgraded NEW YORK, Dec 3 (Reuters) - BancAmerica Robertson Stephens said on Wednesday it raised its rating on shares of 3Com Corp to buy from hold but lowered its fiscal 1998 and 1999 earnings estimates on the stock. -- Analyst Paul Johnson said he lowered his fiscal 1998 estimate to $1.12 per share from $2.02 per share and his fiscal 1999 estimate to $2.24 per share from $2.66 a share. -- But he raised his rating because he believes worst is now over for the networking company. -- "We were waiting for this news," he said. "They were clearly struggling with inventory in the channel. Now that they've taken proactive steps regarding inventory, we believe the worst is behind them." -- 3Com said late on Tuesday its second quarter financial results would be far less than what Wall Street expected as it moves to slash inventories of unsold networking products sitting with its distributors. -- Company also said weakening Asian economies and weak modem sales could hamper results for several more quarters. -- Stock closed at 35-5/16. ((New York Newsdesk 212-859-1610))

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