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To: jmanvegas who wrote (53421)	12/10/1999 11:05:00 AM
From: slacker711	Respond to of 152472

Just another sign of the apocalypse.... But, while Bear Stearns has long been considered a pretty conservative shop, analyst Scott Ehrens flew in the face of that image this morning when he initiated coverage of FreeMarkets (FMKT:Nasdaq), which has yet to begin trading, with a buy rating. The buy rating's not that big a deal, though. Bear Stearns put a 12-month price target on FreeMarkets of $300. For an IPO priced last night at $48 a share. Slacker

To: jmanvegas who wrote (53421)	12/10/1999 11:15:00 AM
From: R. Ramesh	Read Replies (1) \| Respond to of 152472

$500 by 3rd/4th Q of 2000 looks a bit too conservative. Here is what I see. According to the earnings report that I received pro forma for fiscal yr ended is about $3. This is with about 40mill chips shipping. IJ has said conservatively it will be about 70M shipping this year. Further he is asking us to approve 3B shares. It is widely spoken that 50% growth for the next few years is very attainable. Putting all together I get 2000 Fiscal EPS $6, 1999-2000 growth 75+% 2001 Fiscal EPS $9, 2000-2001 growth 50+% I think a PE 100 for trailing earnings and PE of 75 with forward earnings is reasonable. This gives us price targets of 600-650 by next year end. Again I believe these are somewhat conservative given that we are requested to authorize 3B shares and that IJ openly said 70M is likely to be a conservative number. Regards Ramesh