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Technology Stocks : Open Text

OTEX 38.03

+2.2%

Nov 5 3:59 PM EST

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To: joe kaminsky who wrote (878)	6/26/1998 12:21:00 AM
From: make.it.co	Read Replies (1) of 1195

midland's comments on the analyst's day: they maintain their 1-Buy rating: their target remains $25.50: they are positive about both the "on time" and "idi" acquisitions - they both extend the product functionality, add significant sales and engineering expertise, and they were also both very inexpensive: the "analyst's day" reinforced their opinion that the company is "on a roll" - its sales infrastructure is in place, product is addressing a real need in the market, and existing customers continue to extend their applications: they expect the company will take a $17mm charge related to the idi acquisition in the current q4 fy99. for fy99 to june eps expectations are $0.57/share. calendar 1999 eps estimates are $.74/share. $25.50 target is based on 35x p/e multiple.

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