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Technology Stocks : COM21 (CMTO)
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To: Charlie Smith who wrote (125)1/6/1999 3:14:00 PM
From: pat mudge  Read Replies (1) of 2347
 
Charlie --

Here's the essence:

Merrill has upgraded based on a faster uptick in the cable industry. Industry estimates have been moved from $251 million to $428 million, a 160% increase over 1997 numbers.

They're also increasing '99 revenue projections for CMTO from $70 million to $85 million, an 85% increase over the '98 estimate of $46 million. They're also lowering their loss estimates from 0.40 - 0.55 to 0.25 to 0.35. '98 loss was 0.83.

Their competitor Terayon has a price to sales ratio of 17 on '98 numbers and CMTO is 9. CMTO has a stronger market position and better profit margins.

They have a 12 to 18 mo. price target of $38.
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