CCSC - Coherent Communications Message Board

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Technology Stocks : CCSC - Coherent Communications

CCSC 5.170

+0.4%

Apr 20 5:00 PM EST

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To: Tuan Phan who wrote (314)	1/22/1998 2:46:00 PM
From: Todd D. Wiener	Read Replies (1) of 381

The weakness on Tuesday morning was simply a follow-through from Friday's sell-off. I bought some more CCSC at $22.125 on Tuesday morning. The earnings report looks excellent and the company continues to earn a tremendous return on equity (46% run rate). Although it is good to see CCSC beat estimates by 12%, the difference was due almost entirely to the lower tax rate. Still, gross margins increased and costs were well controlled. 1998 should still be an excellent year for CCSC, and I reiterate my year-end price target of $40, while raising my EPS estimate to $1.25 from $1.20. The stock is trading at a 40% discount to its anticipated growth rate, and it looks like a great buy at current prices. Todd

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