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Technology Stocks : K-Tel (KTEL) Have the cheesy '70s records come to an end? -- Ignore unavailable to you. Want to Upgrade?

To: purecntry5 who wrote (354)	4/20/1998 4:41:00 PM
From: Jimbo Cobb	Respond to of 3203

Key West analyst price target changed from $5 to $50 in ONE DAY !!!! UNREAL !!!!! WHERE TO FROM HERE? Key West Securities, a market maker, issued a bearish take on K-tel a few days into the rise. "When the hysteria dies down and the volume dries up, the stock should settle to a more appropriate range between $5 and $7," the firm's chief analyst Anthony Elgindy noted. "This could happen very quickly based on earnings and book value." The next day, after apparently taking into consideration how ill-placed that last remark was in light of the market valuations of the profitless CD-Now and N2K, Elgindy retraced his steps and retracted his words. K-Tel was now the "best value" among its competitors, and, despite the sector being overbought, Key West issued a "buy" rating with a $30-$50 price target. I did mention Key West was a market maker, right?