Oracle Corporation (ORCL) Message Board

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Technology Stocks : Oracle Corporation (ORCL)

ORCL 201.95

-1.5%

Nov 28 9:30 AM EST

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To: treetopflier who wrote (9006)	12/10/1998 3:59:00 PM
From: Edwarda	Read Replies (4) of 19080

It is a downgrade based wholly on price and valuation. His point is that at $36 (the price at which he downgraded the opinion), the stock appeared to be discounting a lot of the improvement already. He points out that the P/E of 28 times his calendar estimate of $1.29 is 27% higher than the estimated five-year growth rate. He's got a target price of $40, so he's simply saying that the potential upside is not enough for a table-pounding buy even though he really likes what the company is doing. He also notes that there is some risk in terms of timing to the estimates. This is not an adjustment in the rating system. It's a valuation call.

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