VISX Message Board - Msg: 5994846

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Biotech / Medical : VISX

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To: yosid who wrote (716)	10/12/1998 5:18:00 PM
From: John Binford, Jr.	Read Replies (1) of 1754

Shorting any stock last Monday would have worked. Visx has held up as well or better than the other laser vision stocks (compare percentage drops.) As for what price is justified if Visx turns out $.60/sh, I don't know. If we take $.60/sh * 4 = $2.40/sh, then $60 is 25 times earnings. If the stock is growing at > 30% per year (recently it has been growing at 100% per year) then maybe it should have a P/E of 30 or more, which would result in $72/sh. So my rule of thumb is to take the fully taxed operating earnings and multiply by 100 to 120 for a reasonable price level. Analysts have 6 to 9 month targets around $80 to $85/sh.

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