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Technology Stocks : PRI Automation up 30%
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To: greenboy who wrote (130)1/8/1997 5:57:00 PM
From: MRO0054   of 193
 
>i'm thinking of ... buying pria for long term. i was wondering what a good entry may be

That's a tough question. I think PRIA is fairly valued right now, but I prefer buying stocks which I feel are undervalued rather than fairly valued. I'm hoping to buy more PRIA in the low to mid 30's, but I'm beginning to believe that I won't be given the opportunity. Since you're looking to initiate a position in PRIA, you may have to settle for paying at or near "fair value" for the stock if you want to own shares. You might consider trying to initiate a partial position on weakness (in the low 40's perhaps) in the next week or two before earnings are released and then waiting until after earnings are released to decide what to do next. Even if PRIA's earnings (and outlook) are good, some "buy on the rumor, sell on the news" profit taking seems likely to me given the runup the stock has seen, and this might present you an opportunity to fill your position.

Regarding PRI's growth rate, PRI's CAGR for the years 1994-96 was 60%. First Call estimates for 1997-98 are $2.25 and $2.95. With 1996 earnings at $1.81, PRI's projected CAGR for the next two years is then 28%.

Good luck with your decision. If 1997 is like 1996, be prepared for volatility if you purchase PRIA!
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