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Strategies & Market Trends : Picks of the quarter -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (2730)	2/23/2007 3:20:26 AM
From: Elroy	Read Replies (1) \| Respond to of 20435

It is expensive, but I'd downgrade ahead of the next earnings release if that's their call. The Dec Q numbers were great, and the guidance is low-balled, so it will probably continue to climb until the next data point, which will be about April 28th. Valuation based downgrades don't usually carry much weight. And Oppenheimer doesn't think margin expansion can continue is much less persuasive than a quarterly release where margin expansion doesn't continue. I'd say Oppenheimer is getting too cute.