BAY Ntwks (under House) Message Board

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Technology Stocks : BAY Ntwks (under House)

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To: jethro who wrote (3101)	12/12/1997 8:07:00 AM
From: The BayWatcher	Read Replies (2) of 6980

The DLJ analyst is a proven bonehead. The guy was touting CS in high 30s and got DLJ to put it on their recommended list. The day before CS warned and plummeted to mid teens, he had issued a note to DLJ clients that everything was going great at CS and that they were very confident in their assessment. The next day he issued an "OOPS." Another anecdote on this bonehead involves his analysis of BAY earlier this year when he issued a 12 month price target of 20. Way after BAY had broken out to the upside, he followed the herd and issued a BUY. Now, the bonehead has a price target of 31 and thinks BAY deserves a forward-looking P/E multiple of 20. I understand from a DLJ broker that this bonehead makes about $1 million a year for his networking analysis. For my money, I think the analyst at Solomon (Swartz) is one of the best covering the networkers-- he says not to expect much upside this quarter on BAY but that there is very good growth after that-- so BUY. IMHO, the DLJ guy is just a bonehead with a track record of failure.

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