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Technology Stocks : Flextronics International (FLEX) -- Ignore unavailable to you. Want to Upgrade?

To: Asymmetric who wrote (1195)	9/26/1999 11:01:00 PM
From: Asymmetric	Read Replies (1) \| Respond to of 1422

Credit Suisse First Boston Raises Target to $80 (Ok, Now I'm straight on the details. Here's some excerpts.) CSFB note 9/23 CREDIT SUISSE FIRST BOSTON CORPORATION AS OF September 23 1999) TARGET PRICE/ESTIMATE CHANGE ($ 62.63, Buy) Target (12 Months): $80 Flextronics International Wins Hotly Contested CPQ Server Business; Raising Estimates And Price Target Contract is large ($400M annually), sole sourced, higher-end PCBA for CPQ's server business. This should strengthen the perception of FLEX's competency in higher-tech manufacturing processes. The increase in estimates are not associated with this win; CPQ does not become additive until June 2000. Rather, it is the strength of underlying business across end markets and geographies. Perhaps most important, we are raising our long-term growth rate to 30% - management continues to express an ability to attain that growth rate over the intermediate term. As we've indicated with other CMs, high quality stocks are trading at near-term visible growth, which for FLEX is about 40%. If a fair P/E valuation is also 40x, we attain a price target of $80 (up from $64). Annual EPS 3/01E $2.15 3/00E 1.67 3/99A 1.23 Briefing.com note 9/23 on FLEX <<Flextronics International (FLEX) 62 7/8: provider of electronics manufacturing services to OEMs receives a $400 mln per year contract from Compaq (CPQ 23 7/16); CSFB raises estimates from $1.63 to $1.67 for FY00 and price target goes from $64 to $80..... >> Fresh tech money: It's not too late By Thom Calandra, CBS MarketWatch Last Update: 4:17 PM ET Sep 23, 1999 More StockWatch Commentary New! SAN FRANCISCO (CBS.MW) -- Is this the beginning or the end? That's the question technology investors are always asking, Thursday more than ever after technology stocks took a big dump. John K. Skeen at Banc of America Securites has the answer: "This is a monstrous cycle for technology," says Skeen, who was at predecessor Montgomery Securities when the investment bank launched in 1978. Skeen publishes a "fresh-money list" each week, and for the most part the 10 stocks "to buy now" have remained constant this year. The list is dominated by technology names: BroadVision, Celestica, Ciena, Flextronics International, Novellus Systems, Sanmina and Texas Instruments. Skeen, director of portfolio strategies and chief market strategist for Banc of America Securities in San Francisco, is preparing for his investment bank's 29th annual investment conference next week. The San Francisco gathering of technology, life-sciences, retail and other companies is the granddaddy of investment gatherings.