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Biotech / Medical : SNRS- Sunrise Technologies -- Ignore unavailable to you. Want to Upgrade?

To: Hardly B. Solipsist who wrote (4060)	11/16/2000 5:33:17 PM
From: bob beck	Respond to of 4140

If you're good at reading between the lines, we may have some more analysts coming on board very soon. 11/16/2000 3:33:00 PM Lehman on SNRS Lehman Bros. analyst Stephen Levy commented Thursday on the movement in shares of Sunrise Technologies (snrs: news, chart) of late, echoeing the Fremont, Calif., laser vision correction technology firm's statement that there was no fundamental reason for the weakness. Levy, who has a "buy" rating on Sunrise with a $19 price target, said the company has met all of his expectations since it began selling its Hyperion laser thermal keratoplasty system at the end of June. "The only knock on Sunrise is that it's a young company," said Levy. "This is a real operation that is starting to have success with market penetration." He added that he expects Sunrise to meet its goal to sell 115 Hyperion LTK systems by year-end and that feedback from recent conversations with ophthalmologists has been extremely positive. Levy said recent selling could be related to a issues raised in an October 31 report from Sturzer's Medical Group, an independent research firm, and the considerable short position in the stock, which totals about 25 percent. One positive catalyst down the road would be if additional investment firms initiated coverage of Sunrise, according to Levy. "If two other firms began coverage, it would give Sunrise much needed credibility," said Levy, who also noted the company is cash-flow positive. Sunrise shares are off $1.03, or 24.8 percent, to $3.12, on heavy volume of 3.8 million shares. The stock, which hit a 52-week low of $2.84 earlier in the session, has lost over 50 percent of its value since the end of October. (An item published on CBS MarketWatch at 10:20 am ET incorrectly attached Sunrise's ticker symbol to a story about SurgiLight (srgl: news, chart).)