Analyst's Latest "STRONG BUY" reiteration
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10:23am EDT 23-Sep-98 Needham & Co. (Peter Dale 212/371-8300) COMS AEHR VTSS
NEEDHAM MORNING RESEARCH SUMMARY
Needham & Company, Inc. (212) 371-8300
Equity Research Trading Desk
September 23, 1998 (212) 371-0312
800-843-4446
Equity Research Morning Summary
Vitesse (VTSS, $25.88, Reiterating Strong Buy) - VTSS went into the
quarter fully booked with about five months' backlog, and we expect that
they will have a similar backlog level going into the December quarter.
We are confident of our book-to-bill estimate of approximately 1.17, and
our expectation of 17% sequential revenue growth (September over June).
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To $28 here we go! Tomorrow is D-Day for breaking $28. VTSS should gap up at above $27, and clinch $28 sometime in the afternoon. After that, there will be no meaningful resistance until $30 by week end. Next week looks even brighter at this point. Accompanied by FED's rate cut, VTSS should easily back up to $32 ~ $35 range, and stay there until Q3 report is out on Oct 20.
To those who are still waiting on sideline, buy as soon as you can! With $35 within reach, you have $7 profit right here in a month!
To those who already bot, DON'T SELL!!! You have a chance to make significantly more money in the next few weeks! How many times we kick ourselves by selling too early! Turn off your computer, buy yourself a bear, go have a good time with whoever you love, forget about VTSS for another week. You will be handsomely rewarded!
Buckle up and enjoy the ride!
MB |
