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Technology Stocks : Orckit (ORCT)

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To: mark who wrote (1682)	1/20/1999 3:28:00 PM
From: Daniel Ralls	Read Replies (1) of 1998

Josepthal analyst creates stir in Orckit shares. The Josepthal analyst issued a note today on Orckit. He said that the recent developments in ADSL will be a plus for Orckit. Listed all the recent announcements that we already know. Then the good part begins: Believes Orckit/Fujitsu have a "very good" chance of becoming the secondary vendor at SBC. When BEL/GTE merger is complete Orckit/Fujitsu have good chance at being the secondary vendor there also. (This same analyst issued a note 1 wk before the DT tender announcement saying he believed Orckit would win at DT. This is now the 2nd time he has made a statement like this. Maybe he knows something?) will likely increase his $22 price target. Orckit should be compared to Terayon (TERN -cable modems) since they have a similar operating model. TERN trades at 22x '98 revs, ORCTF trades at 7x revs. (these #'s are before today's big runup in both shares) I did a quick price target for ORCTF if you use 22x revs. I got $62. $45MM revs/16mm shares x 22 = 62. (I think I might be conservative for the revenue figure) This is my only explanation as to why the stock is up today.

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