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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 73.99

+3.1%

3:59 PM EST

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To: LindyBill who wrote (16325)	8/26/1998 9:03:00 AM
From: Lynn	Read Replies (2) of 77398

The 12 month target of $119 is pre, not post split. In other words, we are now about $15 from the target. Price projections by analysts do not take splits into account until _after_ the split. If they did (take splits into account before the fact) it could cause unnecessary panic. For example, lets say company XYQ is splitting 2:1 next month and is currently selling at 50. If an analyst right now wrote a report and said its 12 month target was 40 (using the 2:1), people would go nuts and some might dump the stock even though the target was great--80 point pre-split target, 60% price appreciation possible. Hope this helps- Lynn

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