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Technology Stocks : Power-One (PWER) -- Ignore unavailable to you. Want to Upgrade?

To: Boplicity who wrote (213)	9/29/2000 12:10:54 PM
From: LJM	Read Replies (1) \| Respond to of 285

=DJ Power-One Up-2: Goldman Sachs Maintains 12-Mo $90 Target 28 Sep 15:22 By Kathy Chu Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Shares of Power-One Inc. (PWER) rose Thursday following Goldman Sachs & Co.'s reiteration of a buy rating and a 12-month target price of $90. "We believe that the recent selloff of PWER is completely overdone," said Goldman Sachs analyst Masroor Siddiqui in a research note released Thursday. Siddiqui attributed the recent selloff to concerns about Power-One's third-quarter performance. Analysts surveyed by First Call/Thomson Financial estimate earnings of 23 cents per share for the third quarter. On Sept. 21, the stock had dropped by 17%, when news leaked on the market that the company would meet consensus estimates, but would not exceed them by as high a margin as in previous quarters. In the first quarter of 2000, Power-One's operating income of 34 cents per share had exceeded analysts estimates by 6 cents, or 21%. Since Sept. 21, investors have continued selling off the stock, steadily bidding down the price each day. Shares of Power-One recently changed hands at $58.75, up $5.69, or 11%, on volume of 7.1 million compared with average daily volume of 2.4 million. (MORE) DOW JONES NEWS 09-28-00 03:22 PM