PSFT - 1999: The "Make-It-or-Break-It" Year? Message Board

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Technology Stocks : PSFT - 1999: The "Make-It-or-Break-It" Year?

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Oct 29 5:00 PM EST

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To: Michael Burry who wrote (301)	3/25/1999 3:13:00 PM
From: bob zagorin	Read Replies (2) of 1274

michael, i read your story back when it came out. as a former journalist myself, i'll compliment on your piece which has a reasonable perspective. i prefer the Lehman Bros. analysis as issued on 1/7/99 entitled "sizing the opportunity of PSBN" which goes thru the analysis to conclude that PSBN is a $1 billion / year opportunity in the U.S. alone over the next five years". they updated their analysis after the q on 1/29/99 with a model revision but increased their target to $30 and maintained their #1 buy rating. if you have access to lehman, i'd suggest the PSBN analysis because, from my point of view, it is compelling in that they have a tremendous base and they can leverage that. Lehman's analysis was very conservative IMO.

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