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Biotech / Medical : Laser Vision Centers, Inc. (NASDAQ: LVCI)

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To: W Shakespeare who wrote (172)9/27/1998 9:20:00 PM
From: DRL  Read Replies (1) of 413
 
Summary from report...

09/25/98 Laser Vision Centers (LVCI $11.38,2-S,Tgt $14.00) Geoffrey E. Harri
--SUMMARY:--Laser Vision Centers, Inc.--Healthcare Products/Services
* We are initiating coverage of LVCI with a 2S rating and a $14 price target. LVCI provides
access to excimer lasers. Excimer lasers are used by eye doctors to treat refractive eye
disorders.
* Our CY98 and CY99 projections are $0.15 and $0.51, respectively; we are assuming the
company grows EPS, on a normalized basis, at a rate of 30% per year.
* The excimer laser industry is growing significantly - in 1997, 200,000 procedures were
performed; it is estimated that by the year 2000, 700,000 procedures/year will be performed.
* LVCI, by (i) bringing the excimer laser directly to the doctors' offices and (ii) targeting
smaller cities, is the first publicly traded excimer laser access company to report a profit.
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