PRMO - Premenos Message Board

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Technology Stocks : PRMO - Premenos

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To: Michael Burry who wrote (108)	3/11/1997 12:58:00 AM
From: Michael Burry	of 240

From the DBC Movers and Shakers: <<Premenos Technology Corp. stock rose 1/4 to 7 1/2 after First Albany Corp. initiated coverage of the communications software developer with a neutral rating. The firm set 1997 earnings estimates of 22 cents a share and 31 cents in 1998. (PRMO) >> So the business is valued at ~$2.50/sh excluding cash, which gives it a true PE of about 11 on 1997 estimates, despite the fact that EPS is expected to grow 41% in by 1998. So why the neutral rating? Does anyone have access to the full report? From Zacks as of tonight: FURMAN SELZ INC 02/13/97 INV BANKING CLIENT ROBINSON-HUMPHREY CO INC 02/14/97 MARKET PERFORMER VOLPE AND WELTY 01/31/97 NEUTRAL WHEAT FIRST BUTCHER SING 02/07/97 BUY ON WEAKNESS The Wheat First report: "Wheat First said the downside risk in Premenos shares is limited, while upside potential remains if the company rediscovers its earnings momentum or becomes a takeover candidate. Premenos stock was trading recently at 9 1/8. Wheat First sees a loss of 26 cents a share in 1996 and net income of 18 cents in 1997." Mike

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