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Technology Stocks : Gateway (GTW)
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To: David R. Parker who wrote (5939)6/10/1998 9:38:00 AM
From: Wayners  Read Replies (3) of 8002
 
Before everybody reading this thread starts trusting what these analysts are saying, lets have a look see at their past performance and calls on GTW. Just how right were they?

Keven Mc Carthy from DLJ downgraded GTW on 18 Jun 97 from a buy to a market perform. GTW was currently trading at $32, at a bottom. Right after that downgrade, GTW traded up from $32 to $45 over the next month. He has kept that downgrade in place as GTW proceeded to nearly double over the next 10 months. Are you really going to trust this guy? I didn't think so.

Ashok Kumar has almost no track record on GTW. He initiated coverage for Piper Jaffray on 2 Apr 98. GTW was then trading at $46 1/4. He had initial rating (and still has) an initial rating of neutral. Well right after that neutral rating (not exactly a buy rating), GTW immediately starts going up and runs up to $59 1/4 at the top. Ashok Kumar missed it. Ashok Kumar is a new employee of Piper Jaffray. He just started in Mar 98. Take a look at his picture at piperjaffray.com. What a geek!

Other analysts not listed in the article have similar dismal records. Nomura downgraded GTW on 24 Oct 97 at $30.75, very close to the bottom and 52 week low. Prudential upgraded GTW on 8 Oct 97 at $34, very close to a short term top. SoundView, ABN and Paine Weber all downgraded GTW (each about $33) in Sep 97 when GTW was approaching the 52 week low and bottom at $30.
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