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Technology Stocks : International FiberCom, Inc. (NASDAQ- IFCI)
IFCI 0.06000.0%Jun 7 5:00 PM EST
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To: mark garner who wrote (1613)1/13/1999 2:42:00 PM
From: rev   of 3541
 
Stock comments.

I have been following IFCI for two years, trading it steadily from the $1.50 range and up. The spoon-fed consensus is around $0.40 in '98 and $0.60-.65 in '99 from the various "analysts" who cover the stock. My opinion of these analysts is they are corporate finance lackeys and are looking for a corporate finance payday, which is how these companies make much of their money. I would pay little attention to what they say about IFCI and allow the Company to speak for itself.

The stock has usually traded at a below average multiple. Why would/should the stock deviate from this multiple range (12-15) unless something changes? It is difficult to understand why a stock that is growing revenues 30-40% per year trades at 14 times earnings, but remember, much of this growth is from acquisitions. A higher multiple can not be justified, especially for a small cap in this environment. If the Company actually earns $0.60 in 1999, then the stock should trade near $9 in 12 months if the multiple remains constant. I really don't see much risk at $6.00. This would imply a near 50% return from today's levels. If they can get coverage from a Montgomery or a Robbie Stephens, known for their technology research, and earn $0.60 in '99, the stock is a double from here. Hold on and be patient.

When do they report the 4Q and year end results? They will beat the estimates by a few pennies as I'm sure they have guided them to where they want them, something all companies do these days.
Good Luck
Rev
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