Spine-Tech (SPYN) Message Board

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Biotech / Medical : Spine-Tech (SPYN)

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To: Royalcoachman who wrote (77)	10/30/1996 8:48:00 PM
From: Stratajema	of 242

You know when these analysts start reiterating buy recommendations they are worried about price support for the stock. Great company, great product, and a very overpriced stock price due to lofty expectations. Funny thing about companies with a new innovative product; analysts can make all ranges of estimates for future earnings and so speculation just runs wild. Stock should be $32 or should be $18 depending on whose guesstimate you follow. With a current market cap of over a quarter billion dollars its difficult to see SPYN hold on to this price level without an extended retrenchment into the upper teens. US Surgical just received approval for their product, thus the need to prop up the price? I think it was the Piper Jaffrey analyst that downgraded SPYN last month who said there was more downside risk than upside profit potentional from holding this company. I've been wondering if their downgrade was a sneaky way of picking up the stock cheaper, but these reiterations of buy recommendations by other analysts confirm that some brokerage firms are a little nervous. David

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