BAY Ntwks (under House) Message Board

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Technology Stocks : BAY Ntwks (under House)

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To: frank burch who wrote (3322)	12/31/1997 8:57:00 AM
From: bayhead	Read Replies (1) of 6980

All aboard...full speed ahead 08:10am EST 30-Dec-97 Deutsche Morgan Grenfell Inc. (Lindsay/Suppiger 415-614- Data Networking - Our Top Picks For January Effect Rebound [FirstCall Notes 12/30] Data Networking - Our Top Picks For January Effect Rebound Subject: Industry Update Analyst: Noel Lindsay, (415) 217-4227 Associate: Erik Suppiger, (415) 217-4228 Industry: Data Networking Date: December 29, 1997 ------------------------------------------------------------------------------ * 3Com Corporation: Stock price dropped from $75 to $27 in early 1997, and again from $56 to $30 in Oct. & Nov. We continue to think 3Com is positioned second only to Cisco - trading at nearly half the multiple. * FORE Systems: Stock price dropped from $35 to $15 in 1997, causing heavy tax loss selling, yet we expect strong Dec. qtr to be reported. * Bay Networks: Dramatic turnaround made BAY a momentum stock, driving it from $16 to $41. When expectations caught-up with reality, momentum players sold and tax-loss selling followed, knocking it from $41 to $23. * Cabletron Systems: Deteriorating fundamentals caused stock price to fall from $45 to $14. Tax loss selling appears to be preventing a rebound, but this could change in Jan. Despite tough challenges, we think its attractiveness as an acquisition limits downside risk.

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