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Technology Stocks : Progress Software

PRGS 42.10

-1.4%

12:58 PM EST

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To: Thomas Mercer-Hursh who wrote (247)	4/29/1999 12:47:00 AM
From: Jerry S.	of 296

Yeah, I like it, but of course I'm just buying in now in the mid-$20's. This co. is incredibly undervalued imo. I'll be here and ready for when others wake up on this one. I'm expecting a rebound in software companies with good earnings and PRGS qualifies - over $1.50 eps expected in '99 FY, leaves it currently with around a 15 p/e - not a fair valuation. Assigning just a 20 p/e results in a $30+ price. My personal price target is near its 52 week high of $38 which would render a 25 p/e, not unreasonable by any means.

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