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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Peter Yang who wrote (47325)	5/21/1998 9:32:00 AM
From: Marcel	Respond to of 61433

>>Morgan Stanley raised its price target from 45-50 to 55. Real brilliant when the stock is at 47! < was it my imagination or did Maria B. mention that they had raised earnings est?

To: Peter Yang who wrote (47325)	5/21/1998 9:55:00 AM
From: gbh	Respond to of 61433

So the upside potential is about 17% and less than 20% Price target does not mean this is the total upside potential. And if you'd have listened to this guy when he first upgraded to 45-50 (at the top then?), you'd be doing ok I guess. What is the downside risk? If take $30 as the bottom, it's 37%. If take the recent low of 22 as the bottom, it's 53% Come on. Stop pulling numbers out of a hat. If you really think 30 is more likely than 55, then short it. Those analysts are really smart and they always upgrade at the top. Simply untrue. There would be no analysts if this were true. Some are good, some aren't. Those that aren't don't last long. I know nothing about this particular one, and I suspect you don't either. But your premise is odd. Once an analyst price target is reached, he/she gets patted on the back by anyone who listened in the first place. Then they have to step up to the plate again. This guy thinks the price is headed up from here. If he didn't, he wouldn't have stated so. He could have just as easily stated HOLD, if thats what he believed, especially with so many people calling for a market correction. I would guess he's been talking to management. Have you? Gary