Ed, looks at this report.>>>>>
Fore Systems to Reach High 20s Within Year, Business Week Says
Warrendale, Pennsylvania, Dec. 30 (Bloomberg) - Fore Systems Inc.'s shares -- which have rebounded from early October lows of around 9 to close today at 16 11/16 -- should rise to the upper 20s in the next six to 12 months as its earnings improve, said Stephen Dalton, who manages $1.2 billion in growth stocks for First Union Corp.'s First Capital Group, in Business Week's ''Inside Wall Street'' column. The network-equipment maker will benefit from growing demand for faster Internet access, Dalton said. Standard & Poor's Rating Services analyst Megan Graham- Hackett expects Fore to earn 48 cents in the year ending March 31, up from 35 cents this past year, the magazine said.
Fore shares fell 15 percent yesterday amid concern that it's fiscal third-quarter profit may fall short of analysts' forecasts.
(BW, 12/30, 57, www.businessweek.com)
19:14:28 12/30/1998 |
