Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Lazlo Pierce who wrote (7321)	1/9/1998 12:43:00 PM
From: Lazlo Pierce	Read Replies (2) of 95453

From Briefing.com Re: I/O <<INPUT/OUTPUT (IO) 20 -5 7/8. Shares of this seismic data acquisition services company are being crushed by a Goldman Sachs downgrade from "recommended list "buy" to "market outperform." The interesting thing about the move, however, is that Goldman continues to be extremely bullish on the company's prospects. According to analyst John Reynolds, near term prospects for the seismic equipment market appear quite positive. And, based on Mr. Reynolds decision to maintain his FY98 earnings estimate of $1.25 and his 1999 view of $1.50, IO's earnings picture has not changed. More than anything else it appears the Goldman analyst is simply attempting to lower his investment rating to a level that would better reflect the less certain near-term outlook for oilfield services stocks given the technical breakdown in the sector. The analyst's new price target of $33 (lowered from $40), suggests upside potential of 65% from the stock's current level. But you can almost be certain that Mr. Reynolds did not expect today's downgrade to have such a pronounced effect on the stock.>> ********************* Dave

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