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Technology Stocks : Orbital science (ORB) -- Ignore unavailable to you. Want to Upgrade?

To: DIAMOND JIM who wrote (887)	2/11/1998 7:33:00 AM
From: Mohan Marette	Read Replies (2) \| Respond to of 2394

DJ: Glad you are back,and hope you didn't sell your position in ORBI. So I am assuming you had a pleasant surprise when you got back,eh? X34-I don't know how much extra demand this project will put on the aircraft, perhaps they can manage with the one they have.I don't even know whether X34 requires an aircraft to launch at this point.I thought this is going to be reusable craft and as such may not need an aircraft to launch or land. I am sure some one more familiar with the situation would post something about this. High Valuation- If you remember couple of years ago the PE was even higher than 50,if i recall correctly and I am sure by the end of 98 the PE will be a lot less than it is now.A growing technology company usually has a high PE during its early developmental phase and as such the company should be valued using other measures rather than PE alone. If it is any consolation Merill Lynch and Oppenheimer still has a 'buy' and 'strong buy' on ORBI with a price target of 40-50 or some thing like that.