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Technology Stocks : Creative Labs (CREAF)

CREAF 0.370

-21.3%

Oct 31 1:10 PM EST

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To: Jon Tara who wrote (9788)	2/16/1998 12:41:00 AM
From: See Lo	Read Replies (1) of 13925

19980216 Goldman Sachs stresses strong buy on Creative shares [NEW YORK] Goldman Sachs & Co analysts have reiterated an "aggressive" buy on shares of Creative Technology Ltd due mainly to its new patent rights on PCI audio technology which is seen to reinforce its market position. Hongkong-based Goldman Sachs analyst Lucas Ward said last Friday that he had "aggressively" reiterated a buy rating with a 12-month view after Creative Technology executives told a technology conference in New York that it has secured patent rights for new sound technology made for IBM compatible computers. He said Creative described the PCI technology as likely to be its best audio product offering in five years. "That statement is quite remarkable because its Sound Blaster Platform is the clear market leader in PC audio technology and this will reinforce the view that its position will remain dominant. "There has been some concern that its leadership in technology creation may be challenged by competitors such as Microsoft Corp and Intel Corp. I think this is a misconception," he said. "Creative is also doing extremely well across its product line and I'm also expecting the main bulk of benefit from its product cycles in the second half." Mr Ward's 1999 earnings per share estimate, which was lowered in December after the company warned of extraordinary items, stands at US$3.00. His price target is US$28. Creative Technology closed last Friday in New York trading up 15/16 or 4.2 per cent at a nine-week high of US$23-1/2. -- AFX-Asia

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