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Biotech / Medical : VISX -- Ignore unavailable to you. Want to Upgrade?

To: Amy Feller who wrote (451)	3/15/1998 12:48:00 PM
From: Vector1	Read Replies (1) \| Respond to of 1754

Amy, Investment banks update their reports all the time when they have new info. In the case of VISX they had to do something because the stock had hit their price target. Last weeks activity is partly explained by the following excerpt from the report. -- Much of the move has come on the heels of a recent institutional road trip with VISX management that highlighted the continuing robust growth in LVC procedures. The royalty fees associated with these procedures now represent the majority of the company's revenue stream and will be responsible for driving bottom-line increases in 1998 and beyond. In fact, it appears that our current March-quarter estimate of $0.27 per share (up 125% from the prior year) may prove to be conservative. We are introducing a 1999 EPS forecast of $1.65 (reflecting our expectation of 25%-30% secular earnings growth) and raising our target price on VISX to $40, 25% above its recent close.