Etec Systems moving up Message Board

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Technology Stocks : Etec Systems moving up

ETEC 0.150

0.0%

Sep 8 5:00 PM EST

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To: Richard P. Roberts who wrote (113)	12/12/1996 7:23:00 PM
From: Dr. Bob	of 1279

The $2.11 reflects some one-time items; otherwise earnings would be about half that, and the P/E now about 35, which is roughly equivalent to ETEC's projected earnings growth rate, so I think it's fairly priced now. Downside risk is to the mid-20's, I think, if some real bad news comes out of the semi sector in general (especially INTC), or from ETEC specifically (e.g., order cancellations). Upside potential? Earnings estimates for the FY ending 6/97 are close to $2.00; if ETEC was given a P/E of 40 based on a projected 40% growth rate in profits, it could get to $70-80 in the next 6 months. A P/E of 25 seems more realistic, so $45-50 by July seems likely. Hope you held onto a few shares!

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