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Technology Stocks : Identix (IDNX)
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To: steve who wrote (9820)8/6/1998 7:27:00 AM
From: Hal  Read Replies (1) of 26039
 
The only news that will make IDX go up is earnings news. We have seen time and again that news does little for the stock (understandably since it already trades at a huge multiple of trailing earnings). While it currently trades at only 40 times next year's anticipated earnings, the analysts have downgraded future forecasts so many times they have become meaningless. I remember the days when Kessler and others were looking for .40 in 1998 (and the "Commission" said $1.00) Now the covering analysts are estimating only .19 in 1999. This stock will not move until the street sees the market for bio-ID on the shorter term horizon. I think that the analysts have misread the short term growth of this market for so long that most are skeptical.
With all that said, I am not skeptical. I am long.
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