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To: Lizzie Tudor who wrote (14742)11/7/2002 12:17:28 PM
From: Bill Harmond  Read Replies (1) | Respond to of 57684
 
09:49 ET DCTM Documentum downgraded by Baird on valuation (16.70 -0.80)
In a pre-market call, Robert W. Baird downgrades to Neutral from Outperform with a $16 price target. Firm arrives at a two-year price target of $20 by applying a 40 P/E multiple to their 2004 estimate of $0.50 .. discounting that back at 25% for one year produces a 12-month price target of $16.

[I'm keeping it considering no one has a clue what 2004 earnings will be]